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SELF-FUNDED QUOTING PROCESS

SHOP FOR PROGRAMS

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

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

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.

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

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.

DATA COLLECTION

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

ILLUSTRATIVE PROPOSAL REVIEW

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

UNDERWRITING ASSESSMENT

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

UNDERWRITING PROPOSAL REVIEW

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

OPEN ENROLLMENT

Employees confirm their coverage level for the year.

COVERAGE EFFECTIVE
Employees are issued insurance ID Cards.

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LEARN MORE
Schedule a demo today to learn more.