Axial Benefits Group (ABG), a benefits management company, had bolstered its healthcare purchasing coalition (HPC) operating model with a medical stop loss arrangement underwritten by QBE North America.
The programme creates a a direct relationship between ABG's health care purchasing coalitions and QBE.
The experience and knowledge QBE brings to the HPC operating model is aimed at lowering costs, increasing stability, reducing turnaround time on claims, and improving process efficiencies that facilitate employer productivity.
"This is an exciting step forward for the health care purchasing coalitions ABG manages," said Mick Rodgers, principal, and managing partner, Axial Benefits Group. "The direct relationship with QBE affords us a tremendous opportunity to eliminate administrative steps, gain meaningful efficiencies and ultimately, provide our clients with an opportunity for even greater returns."
Axial's HPCs returned $3.2M in surplus assets to coalition members in 2016.
The collaboration also further aligns the HPCs with Axial imperatives, including transparency, fee-for-performance, shared accountability and continuous improvement.
SRS will provide financial reporting, regulatory compliance and programme management services for the coalition premium funds.
Axial Benefits, QBE, Healthcare, North America