Perspective

How Our Research Works For You

November 09, 2013| By Marcy Updike | Disability, Life | English

Interested in learning how to gain insights into Disability and Group Life insurance market trends?


A unique service delivered through our Research Center - our MarketCheck survey series - is focused on providing just that. Designed to help our Disability and Group Life reinsurance clients gain exclusive knowledge about marketplace trends in the U.S., these surveys are typically short in nature and turned around very quickly – there are only a few targeted questions – and results are shared with participants who use the information to develop or improve their business strategies.

Here’s how it works – a client may have a specific question regarding a risk management or competitive issue, and will initiate a MarketCheck survey with us. Other carriers who may be facing similar challenges or issues will then be recruited to participate.

For example, recently a Group Disability client initiated a MarketCheck to learn more about claim incidence rates for the industry and whether they have been leading to pricing actions by carriers. The insurers that participated reported the latest results for a few claim metrics, such as LTD and STD claims submitted, average gross and net benefit amounts, and termination rates.

Within a matter of days, participants were sent the results, and the findings provided insight into the most current industry claim trends that otherwise would not have been accessible to them. With this information, they were able to compare their own results to other carriers in the industry - and assess the impact on their own pricing strategies.

 

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