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International Pooling

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

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

  2. International Pooling • Background and Concept • Example • Corporate and local perspectives • Pro’s summarized • Provider networks • Natural pools (the easy way)

  3. 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

  4. Pooling - Example (one country)

  5. Pooling - Example (1 w/pooling)

  6. Pooling - Example (add 2nd country)

  7. Pooling - Example (add 3rd country)

  8. Pooling - Example Total

  9. Pooling - Example (with negative)

  10. 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

  11. 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.)

  12. 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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