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International Pooling . Concept & Example. Benefits Direction, Inc. 25 Brunnell Drive, Suite 101 Holden, MA 01520 Tel/Fax: 508-829-6715 Email: bdi@bensdirect.com. International Pooling. Background and Concept Example Corporate and local perspectives Pro’s summarized Provider networks

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international pooling

International Pooling

Concept & Example

Benefits Direction, Inc.25 Brunnell Drive, Suite 101Holden, MA 01520Tel/Fax: 508-829-6715Email: bdi@bensdirect.com

international pooling2
International Pooling
  • Background and Concept
  • Example
  • Corporate and local perspectives
  • Pro’s summarized
  • Provider networks
  • Natural pools (the easy way)
pooling background concept
Pooling - Background & Concept
  • Mid-60’s
  • Buyer: Leveraged/combined purchase power
  • Seller: low acquisition expense, good retention and lower risk (give some; get some and hold longer)
  • Cross experience rating (risk coverage’s)
  • Stop loss and loss carried forward
  • Common practice at most large multinationals
  • Emerging multinationals adopting practice
pooling networks
Pooling Networks
  • Swiss Life, MIA, Insurope, AIG/Winterthur, John Hancock IGP, GAIN, Aetna/Generali etc.
  • Owned subs or associate insurers
  • Some local insurers in 1+
  • Formal agreements re: size related retentions (risk and profit charges)
  • Most countries allow international pooling
  • Small (multi-employer) pool participation available for emerging multinationals - most networks
natural pools
Natural Pools
  • Where already utilizing insurers within one pool
  • Networks stiffening requirements
  • Easy way to start
  • Serves as core for additions to the pool usually at renewal time
  • Can have more than one pool
  • Included coverage’s needs evaluation - not all risk should be pooled (e.g. STD, AD&D etc.)
pooling summary
Pooling - Summary
  • Leading local insurance companies
  • Lowers net benefits costs
  • Losses can be carried forward or minimized with stop/loss
  • Improves local provisions e.g. guarantee issue, maximums etc.
  • Less profit for insurers
  • Improves operational bottom line
  • Improved information flow
  • “Win/Win/Win/Win” situation (Hdqts, local ops, insurers and employees)
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