bg_white06.png

How It Works

female-business-women-conducting-negotia
business-meeting-novo_logooverlay_edited.png
people-using-mobile-phone-on-technology-data_novo_logooverlay_edited.jpg
welcome-on-board-two-young-and-handsome-men-shakin_novo_logooverlay_edited.png
doctor-taking-medical-insurance-card-from-patient_novo_logooverlay_edited.png
Data Collection

Advisor uploads basic employee information: zip code, gender, DOB, and expected coverage to Novo Connection.

Analytics & Recommendation

By mining claims data, our platform can make intelligent medical, Rx, and stop-loss recommendations.

Shop for Programs

Advisor uses census info to model optimal health programs to fit the employer's needs.

Illustrative Proposal Review

Novo Connection returns plan designs and projected rates for review by advisor and employer group.

Prep for Underwriting

Without claims data: Personal questionnaires are completed in Novo Connection by employer group
OR
With claims data: advisor submits prior claims data to Novo Connection.

Underwriting Assignment

Novo Connection creates a risk profile of the employer group to determine expected claims volume.

Shop for Stop Loss Options

Novo Connection uses the risk profile to find a competitive stop-loss insurer to protect the employer group against higher-than-expected claims volume.

Underwriting Proposal Review

Novo Connection returns underwritten (firm) rates for review by advisor and employer group.

Select Program Design

Employer group selects a program based on underwritten rates with direction from the advisor.

Open Enrollment

Employees confirm their coverage level for the year.

Closing Paperwork

Novo Connection confirms rates based on enrollment levels. Employer group signs contract with selected program and issues payment for the first month of coverage.