ASG Perspectives

The Humanity of the RFP: An Underwriter's Perspective

Friday, April 28, 2017

by Michael Tushman, Regional Marketing Representative

Stop-loss underwriters work hard.

In any given year, an underwriter might review more than 750 groups. And I’m not going to lie… after awhile, they can all begin to seem like there’s little to differentiate one employer from another.

Unfortunately, this can be particularly true for fully insured groups looking to convert to self-funding.

All of our TPA and broker partners are very good at submitting the basics of a request for proposal. You know — the standard stuff, including a census, plan design, current rates, loss data (if available) and the type of stop-loss contract they’re looking for.

What’s missing though?

Well, from the perspective of this underwriter’s desk, I’d say something to capture our interest. Something that makes the prospect really stand out.

Just like regular people, we underwriters like to read stories. Stephen King, James Michener, Ernest Hemingway, Mark Twain…. All good stuff.

What we love to read stories about is why a group is being marketed. Their motivations. Their back stories. Their goals and objectives for working with a new stop-loss partner.

I promise you, we aren’t looking for an epic narrative destined for a Pulitzer Prize… just something that helps us come up with creative solutions to help you retain or win business.

So next time you market a current group or a prospect, give some consideration to telling us:

  • -Why is this group being marketed? Are they doing a simple market check (which is okay) or does the group intend to make a move?
  • -What creative strategies are you going to employ that puts you in the best position to win the business?
  • -What’s your relationship with the group or the agent working with you? Do you have a history with the group or previous success with the agent? Or do you see this as an opportunity to get your foot in the door? (We are here for you!)
  • -What’s the group’s financial goals? A ballpark estimate is fine… just give us an idea for scope.

Help us help you! Consider bringing your group to life by personalizing your next RFP and helping your client group to stand out from all the others.



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