3 LEVERS TO REDUCE OPERATIONAL COSTS IN HEALTH INSURANCE

CEGEDIM | August 25, 2017

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As we progress through the 21st century, health insurers are facing a new set of challenges. And cost optimisation lies right at the heart of them. With the development of chronic diseases, healthcare expenses follow a tremendous inflationist trend. This leads to a deep transformation of the needs in health insurance, with three main levers to improve margins:
- increase premiums, clearly within the constraints imposed by market forces;
- reduce medical expenses through medical value management;
- reduce operational costs through operational excellence.

Spotlight

Utica First Insurance Company

Utica First Insurance Company was founded by local Utica, New York businessmen in 1903 as Utica Fire Insurance Company of Oneida County, NY to serve the property insurance needs of the upstate New York residents. It has developed from that small base into a company which actively writes business in the states of New York, Connecticut, Massachusetts, New Jersey, Ohio, Pennsylvania, and Virginia. In the beginning, the Company wrote exclusively property insurance on an assessable basis. Now its product line has expanded to include Homeowner, Landlord Package, Restaurant and Tavern Program, Convenience Store Program, Small Artisan Package Policy and Business Owner Policies among others.

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