As employer healthcare costs continue to rise, an increasing number of businesses are turning to self-funded health insurance models. Without sufficient historical data, many companies can’t buy stop-loss insurance or self-fund employee benefits, missing out on cost-containment solutions for self-funded employers. As a result, they resort to the fully insured market, leading to high annual increases and inadequate plan designs for employees.
Our A&H division met this challenge with SkyVantageTM, which leverages our partnership with Gradient A.I. and their SAIL medical underwriting solution. With the power of data analytics and machine learning at their fingertips integrated with their superior expertise, our underwriting professionals can evaluate group health risks at a deeper level.
With SkyVantage, we leverage these data insights and more precise assessments to offer highly customized and cost-effective solutions for the self-insured market. This allows employers to provide employee benefits more cost-effectively while also enabling many employers to self-insure who may have been unable to do so otherwise.