Group Risk Improvement Predictor
Insurers lose millions of dollars each year due to the inability to accurately set risk premiums. CTG has developed a Group Risk Improvement Predictor (GRIP) tool which allows firms to more accurately determine the premium rates for various groups. It allows the low- and high-risk groups to be charged a rate more applicable to their claim amounts.

With premium rates being one of the main reasons firms switch insurers, GRIP allows health insurance companies to retain customers by minimizing turnover due to changes in premiums.

CTG’s GRIP tool analyzes various data to determine a supplemental risk factor, which can be applied to a group’s risk adjustment factor to help underwriters determine premiums.

The benefits of CTG's GRIP tool are:

• It is designed to increase predictability for either a subset of--or your total--group population.

• GRIP uses proprietary financial data and economic factors to calculate a supplemental risk factor (SRF) to use in conjunction with your base RAF.

• The tool will redistribute premium dollars and corresponding group allocation to more accurately price individual groups.

• The algorithm/data model is customizable, and can be configured to calculate either revenue-neutral or increase/decrease total revenue to get closer to target medical loss ratio (MLR).