amwins group benefits overview
TRANSCRIPT
There’s a Better Way
Presented by: Henry SantosAssistant VPAmWINS Group Benefits
Agenda
• About AmWINS• About You• Surviving the Emerging Market• Our Mission
– To support you– Offer you a better way
• Products and Services
About AmWINS Group Benefits• Division of AmWINS Group, Inc.
– Largest private insurance wholesaler in US
– $3.5 Billion in premium
• Benefits Division– 13 Locations
– 500+ Employees
– 1,100+ Groups
– 600,000+ Members
– $1.3 Billion in premium
AmWINS Group Nationwide Distribution
Surviving The Emerging Market• Revenue threats
– Economy– Lower commissions– Increased competition– Healthcare reform
• Options– “Patience…stay the course”– “Innovate…make the market”
• Transition to an innovator– Don’t sell the same old stuff– Solve your clients’ problems
Principles of a Better Way
Mission
To deliver a competitive edge to people that work with us and for us.
Vision
AmWINS was formed with a belief that:
We will enhance the way our industry does businessWe will be leaders in everything we doWe will be home to the best talent and expertise in the businessWe will always challenge the status quo and demonstrate our value at every interactionWe will be one company focused on teamwork
We are AmWINS and our vision is to create,distribute and service forward-thinking solutionsthat provide our clients, markets and employeeswith an experience that will be the most soughtout in the industry.
Our Mission, Vision and Principles
Support of Our Mission
• Develop, underwrite, distribute and administer niche L&H products
– Products are not commodities– We don’t have a box– “Everything but take risk”
• Solutions vs. Product• Client centric – Benefit Producers
– Awareness– Educate– Focus
• We do weird
Retiree Benefit Advantage
•Easier prospecting•You don’t need to be an expert•Industry expertise•End-to-end proposal and administration
•Benefit plans for retirees•Medical, RX, and other programs•Reduction of balance sheet liabilities•Exit strategies
Description
ValueProposition
•Main Street to Wall Street•Employers, government agencies, Taft-Hartley plans, non-profits•Groups in economic crisis
Prospects
Limited Medical - HealthWINS
•Limited medical plan•Low cost alternative to traditional plans•Indemnity – maximum fee per service•Expense incurred – annual limits on benefits
•Superior administration •Multi A rated carriers •Standard and customizable plans•State-of-the-art enrollment capabilities
•Hospitality•Healthcare•PEO’s•Trucking
Description
ValueProposition
Prospects
Benefit Watch
•ERISA requires audits•Comprehensive analysis of all claims•Documentation, negotiation and recovery services
•Great prospecting tool for PBM business•Value added service for your clients•Found $•Average findings of 7.6% error rate
•Any payor of RX benefits•Self-funded groups•Taft-Hartley plans
Description
ValueProposition
Prospects
PBM - IdealScripts
•Pharmacy Benefit Management•Innovative and flexible plan designs•Self-funded and insured options•Fully transparent
GeneralDescription
•Broker centric•Mid-market focused•Service•Proprietary programs-improved outcomes
ValueProposition
•Employers large and small•Government Agencies•Taft-Hartley Plans•TPAs
Clients
Third Party Administration
Synergized claim servicesCommunity health care initiativesAla carte services
GeneralDescription
SAS-70 Level II credentialsAvg. yield: 69% cost reductionLeading edge technologyPayor access to data
ValueProposition
Employer GroupsUnions Any ERISA Plan
Clients
Specialty Pharmacy
•Coverage for complex conditions (Tier 4)•Protects employers against severity•Co-insurance percentage•Emerging problem (drug production/inflation)
GeneralDescription
•Predictable risk•Improved cash management•Can reduce stop loss costs•Removes moral dilemma for company
ValueProposition
•Self-funded employers•Government Agencies•Taft-Hartley Plans•TPAs
Clients
Dialysis Management
•Easy to implement service•Helps manage dialysis claim costs•Single patient monthly claims can exceed $30,000
GeneralDescription
•Can save up to 50% with re-pricing methodology•Cost savings protects plan assets, eases stop-loss renewals and preserves patient LTM
ValueProposition
•Large self-funded employer groups•Employers with current dialysis claim issues
Clients
Stop Loss Insurance
Protection for self-insured employer groupsSpecific and aggregate medical stop-lossPrescription drug stop-loss
GeneralDescription
MGU – we have the penAccess to variety of marketsCustom plans and “hard to place” risksMarketplace clout
ValueProposition
Employer Groups Taft-Hartley plansERISA plans
Clients
GovCon Limited Medical
Government Contracts Davis Bacon Act & Service Contract ActMedical & Prescription coverage
GeneralDescription
Reducing Labor CostsAdministration of Health & Welfare / Fringe RateGuaranteed Issue benefits for employee & familyHRA Card
ValueProposition
Construction CompaniesSecurity & Guard ServiceJanitorial / Custodial ServiceLandscaping / Grounds Keeping
Clients
Delivering a Competitive Edge
• Through A Better Way• Enhancing strategic focus
– Administrative services– Develop more markets– Build more products– Be consultative
• The result– Easier prospecting– Increase appointments– Higher closing ratios
Thank You!
• Contact Information:
• Henry Santos• O: 401.734.4144• C: 401.413.7508• E-mail: [email protected]