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GUAA Risk Review, Fall 2002
Disability Committee Review
By Tom Kirner
Disability Consulting GroupThe theme of the disability sessions at the Washington DC conference was "The Current State of STD". In the first session, Thomas Frazier (CIGNA) and John Birilla (Prudential) "set the stage" with a history of the origins of STD. Other sessions included a panel presentation on STD claim administration where panelists from Fortis, UNUM and Disability Management Alternatives provided insight into the issues facing small group, large group and self-insured STD claim administration. Actuaries from Towers Perrin Reinsurance and John Hewitt & Associates provided industry data on the current profitability of STD insurers (and it's not pretty). We also had sessions on STD underwriting and state mandated benefits. In both "Lets Tall Shop" sessions, participants wanted to discuss the reasons why STD has not been profitable and what companies can do to overcome the current inability to make money.
Our Denver meeting in November will focus on voluntary and worksite marketing of disability insurance. A full slate of sessions are planned including two "Lets Talk Shop" sessions.
Worksite Marketing Ð The nuances of marketing at the worksite
Distribution of Voluntary Products Ð Distribution sources and techniques for successful implementation of voluntary products
Underwriting Core/Buy-ups
Impact of the changing census Ð As the demographics of our population change, what impact will this have on underwriting and pricing of group disability business
Using data to underwrite the culture of an organization.
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