The Pooling and Group Insurance Process

Identifying objectives and creating surveys for large groups are the first steps in evaluating a pooling/group option. Depending on the objectives, we have identified the following process that a client may undertake:

  • Identify and analyze loss exposures and organizational objectives
  • Conduct feasibility study
  • Identify regulatory constraints and compliance requirements
  • Identify, review or revise service requirements and potential service providers
  • Identify, review or revise financing and structure alternatives
  • Pro forma and renewal budget preparation
  • Facilitate actuarially sound funding plan(s) and alternatives
  • Develop, review or revise scope of coverage
  • Develop, review or revise rating plan(s) and alternatives
  • Develop, review or revise surplus distribution plans (dividends)
  • Monitor operation to ensure desired results
  • Compare financial solvency ratios with other similar pools
  • Suggest target surplus range

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