CTG's Group Risk Improvement Predictor (GRIP) solution uses
proprietary financial data as well as other macroeconomic factors
to calculate a group risk factor (GRF) for individual employer
groups. This risk-based score statistically validates a direct
correlation between financial condition and claims volume and
size.
The GRIP underwriting module uses GRFs, in
conjunction with the payer's current underwriting and pricing
processes, to help payers more accurately price group premiums to
align with target medical loss ratios (MLRs). The GRIP marketing
module focuses marketing and sales efforts on employer groups
with lower financial risk. GRIP helps payers reduce millions of
dollars in annual losses by incorporating group financial risk to
better predict overall risk.
Underwriting Module
- Can be configured to calculate either revenue
neutral/increase/decrease to get closer to target MLRs
- Redistributes revenue for the purpose of retaining lower-risk
groups and more appropriately pricing higher risk groups
Marketing Module
- Generates contact lists rank-ordered by GRFs of virtually all
prospects in a target market that subscribers access through a
web-based portal
- Focuses marketing campaigns and outreach lists according to
subscriber specifications for a range of parameters including
revenue,group size, and business type
GRIP Benefits
- Allows payers to be more competitive and accurate in pricing by
helping set premiums appropriate to the group's overall risk
- Helps reduce risk and book turnover with compromising
underwriting standards
- Provides additional business intelligence to better focus
marketing efforts to reduce future risk and build a better
book
- Factors in the financial position of each group-critical in the
current economy
- Reduces millions of dollars in annual losses by factoring group
financial risk into overall risk