Insurance Broker Services

Your Cool Insuring Account Executive will represent your best interest in all interactions with broker insurance carriers. First, we get to know your business. Then we thoroughly analyze your current plans and assist you in developing a strategy that meets your unique situation. From pre- to post-implementation, you can count on your Cool Account Executive to provide expert knowledge in insurance products and availability. Cool Insuring will also facilitate onsite enrollment and educational seminars to orient the employees to their benefits plan.

Your Account Executive will also:

• Survey the small business insurance market and compare the programs/plans available. Should you decide to review the current benefit offerings, your Account Executive will develop and implement a benefit strategy with you for the desired effective date. Cool will advise you of any underwriting, network or benefit changes with the current carriers, and provide alternative solutions

• Pro-actively advise you of Health Insurance market trends

• Gather and review participant demographics and consider goals for plan participation. Cool will work closely with you to maintain the integrity of your current benefit structure

• Provide information on benefit re-design, utilization review, pharmacy benefits management, self-funding, and alternative funding arrangements, pharmacy benefits management, and supplemental voluntary plans

• Prepare draft for request for proposal from insurance vendors as needed. Cool Insuring will continuously review the insurance marketplace advising you throughout the year of new benefit options and alternative funding mechanisms available, providing market studies where warranted

• Communicate your desires to the various insurance companies

• Analyze the effectiveness of current coverage

• Solicit and obtain renewal information. Cool will obtain renewal information, including alternative options, a minimum of 2 months prior to the effective date of the renewal to allow sufficient time if changes are to be made

• Establish renewal (or marketing) objectives. Cool will work closely with you to ensure appropriate coverage, as well as to advise changes within the insurance industry

• Present negotiated renewal or market study results

• Prepare model and analyze employee contribution scenarios. Cool will provide you with industry specific information relating to the local and national averages

• Finalize renewal decisions

• Review plan design features and consider plan changes

• Conduct a thorough analysis of all proposals/plans

• Gather and advise on benefit options available for current plans

• Obtain, analyze and compare current small business insurance plans along with viable carrier options

• Negotiate lower rates for PPO’s and indemnity plans if offered

• Ensure that your business does not obtain rates to cause under or over payment situations with carriers. Cool will periodically review the carrier rates filed with the New York State Insurance Department

• Provide legislative updates. Cool will advise you of impending legislative issues or mandates that would possibly impact the current plan benefits and rates

• Monitor insurance companies for financial solvency

• Represent your interests during all carrier meetings concerning renewal negotiation, the implementation of new plans and all post-implementation issues that may arise

• Assist as a resource as your employee benefit strategy evolves

• Facilitate on-site enrollment/education meetings during a new product rollout, renewal of an existing product or an informational meeting to assist employees in the utilization and understanding of their benefits. Coordinate carrier supplies including preparation of payroll stuffer and employee benefit folders. Cool Insuring will also be responsible for preparing, printing and maintaining benefit comparisons

• Facilitate in-service employee education seminars, including those pertaining to areas of Wellness

• Always take into consideration the objectives and desires of your business

• Any other miscellaneous service as requested by your business for the purpose of purchasing health, dental, life, disability, and voluntary small business insurance or the administration thereof.