Real Stories. Real Solutions.
We’ve told you enough about our products and services and even ourselves. Now, it’s time to SHOW you some of the real solutions that we’ve brought to a variety of clients — solutions that we’d be more than happy to provide for you.
+Our stop loss producer client wanted to turn its idea from business plan to business reality. Here’s how Re-Solutions helped.
A producer active in the self-funded market wanted to hire an underwriting staff and establish an MGU relationship with a major stop loss issuing carrier. Re-Solutions assisted the producer not only in developing the business plan, but also found a large national carrier willing to give this entity underwriting authority to write business.
+Buying and selling businesses can be part of a successful strategy. Learn how Re-Solutions helped two companies accomplish their strategy.
A large national carrier had decided to exit a market segment and needed to find a buyer for its block of business. Recognizing the need to work with an organization with an extensive network, the carrier asked Re-Solutions to approach potential buyers and help negotiate the sale. We successfully initiated negotiations with several potential buyers and ultimately were able to secure acceptable terms that resulted in the renewal rights for the block being transferred to the buyer.
+A long-term disability carrier wanted to improve its retained profit margin. Learn how Re-Solutions helped to reconfigure the client’s quota share.
An insurance company client wanted to share in the profits that their long-term disability business had been producing, however, most of the profits were being realized by the turnkey quota share reinsurer. Re-Solutions provided a detailed financial and actuarial review of the reinsurance structure, focusing on what changes would provide the company with greater revenue/profits. The analysis identified three options that could accomplish their goals: (i) changing the risk structure, (ii) modifying the expense allocation, and (iii) adding an experience refund.
After presenting the full analysis, the company instructed Re-Solutions to negotiate with the reinsurer to add an experience refund to the existing reinsurance contract. The benefits of the experience refund included the opportunity for the client to share in the profits of their long-term disability business without increasing their risk position. One significant challenge to adding an experience refund was the fact that experience refunds are not widely used/accepted by turnkey reinsurers. In the end, not only was the Re-Solutions team successful in adding the experience refund to the existing contract, but Re-Solutions was able to negotiate the refund applying retroactively which resulted in the company receiving an immediate six figure refund.
“Not only does Re-Solutions provide us with additional intellectual capital that assists us in developing key strategic initiatives, but Re-Solutions has the ability to execute based on the chosen strategies” stated the Head of the insurance company’s group department.
+As with most opportunities, timing was critical. Could our client get up and running before the opportunity was lost?
Re-Solutions was asked to assist a group of seasoned professionals in the start-up of a new MGU. The opportunity consisted of finding an issuing carrier, reinsurance support and potential sources of finance. The challenge with this particular opportunity was TIME. In order for this start-up MGU to be successful, they needed to be up and running in time to take advantage of the key renewal period in their market
Within a span of two months, Re-Solutions found an A rated issuing carrier, completed all the necessary due diligence, put in place quota share and excess reinsurance support, and had the MGU quoting/binding business within the needed timeframe. We were able to meet the immediate needs of our client, by demonstrating market knowledge and delivering quality service that will go a long way toward ensuring the client’s long-term success.
+We understand start-up businesses. After all, we were one ourselves back in 2001. Learn how we helped a start-up MGU get a head start on its business.
A start up MGU with a highly experienced team needed to find a carrier partner. Re-Solutions reviewed the company’s business plan and after vetting many potential partners, found both the right carrier and the right reinsurer for the business. Today the MGU is not only up and running, but the insurance program is profitable and growing.
+Sometimes carriers have to work together. Re-Solutions knows the market and can help create a win-win solution.
Our client, rated C++ by AM Best, needed an A-rated group life product to distribute for their prospects that required A-rated paper. Using our extensive market connections, Re-Solutions found the right carrier partner for our client and brought the two parties together where they both benefited from additional distribution strategies.
+Time is running out. A reinsurance program in shambles. Re-Solutions to the rescue.
An A&H carrier was nearing its reinsurance renewal date but its broker was unable to negotiate acceptable renewal terms for its complex captive program with the incumbent reinsurer. Unwilling to compromise at renewal, the carrier turned to Re-Solutions to take over the negotiations.
Re-Solutions quickly stepped in and resolved the issues with the treaty language. Recognizing the incumbent reinsurer was not the optimal fit for the carrier, Re-Solutions identified another, more appropriate reinsurer and completed the placement with better terms for the carrier. Re-Solutions finalized the deal 10 days after being appointed as the reinsurance intermediary.