The Travel insurance market is growing rapidly. As a $6B line of business, with new insurance companies entering the market each year, it is important that cost containment measures are maximized and best practices are in place. In order to ensure peak performance, it’s also imperative to consistently audit and analyze the book of business. The Travel & International A&H Services practice provides specific, value-added benefits to Insurance Carriers and Assistance Companies with medical-related exposure. In an addition to a highly experienced team of professionals, certain members of our staff have held equity positions in Travel Cost Containment companies. This level of executive commitment offers our clients a unique perspective.
Cost Containment vendor audits
Licensing analysis/Claim audits
Complete Restructuring of Cost Containment Strategy
An International Insurance company with an assistance subsidiary required complete restructuring of their cost containment strategy. AG provided a detailed analysis and strategic road map to produce significantly increased results on their travel book of business. In addition, their A&H and TPA arrangements were audited and restructured for higher performance.
Launch of Full Travel Insurance Program
Major Global Insurance carrier needed expertise in launching Travel Insurance Program. AG was hired to assist with Producer and Claims licensing requirements, developing and reaching out to the market for cost containment and assistance RFPs (and vendor selection), claim system development and integration, workflow mapping and metric recommendation.
Accounting Consultation on Booking Revenue & Expenses
A European Insurer needed accounting consultation on how they were booking revenue and expenses in their US operation. Additionally, they required interpretation of state by state licensing requirements (Producer and Claims) to ensure compliance.