DuNord Reinsurance Consulting
FREQUENTLY ASKED QUESTIONS
What is our process vs large, national brokerage firms?
We are hands–on with expertise and experience using analytics and data-driven results, paying attention to the details to mitigate risk for our clients. We are a service model placing great emphasis on long-term relationships with our clients and markets.
Aren't all reinsurers the same? What makes them different or sets us apart?
Reinsurers differ by their risk structure and product offerings. Risk structures can be with global reinsurers with large capital bases or smaller underwriting shops renting or writing on others’ capital. Services differ, with some reinsurers offering a robust portfolio of cost containment products and services designed to lower claims cost while other reinsurers are purely transitional and focus on capacity.
How do most intermediaries work?
There are two main types of intermediates: large national brokerage houses and smaller boutique-type firms. The national brokerage houses leverage their books to drive the lowest pricing on a transactional (i.e., commodity) basis. DuNord takes the time to understand our clients’ risks and discuss challenges of all natures. We use our experience and analytical–driven approach when reviewing claims with underwriters to discuss each program in detail. In the health insurance industry, every program encounters issues; working with DuNord results in long-term, stable relationships and building goodwill with program participants. Transactional relationships are difficult to gain support when it comes to solving problems.
I understand you have an underwriting background.
Our principals were top producers and underwriters of the largest stop loss writer in the market. This experience and underwriting background has remained beneficial to our clients over time as we negotiate the most effective reinsurance coverage. We work peer-to-peer with underwriters negotiating the most competitive terms.
I hear there are a lot of expensive drug treatments coming out.
Absolutely- an absurd number of costly drugs are receiving approval or in the pipeline. DuNord stays ahead of the curve regarding industry news and updates. We research various programs to help our clients manage their exposure. We are also developing, with our reinsurance partners, new products to address our clients’ GCT concerns. We would be happy to meet with prospective payors looking for alternative solutions to huge surcharges on their rates.
How is the reinsurance industry reacting to high drug costs?
With high drug costs, everyone is scrambling for solutions. We are in the infancy of products and services designed to mitigate this exposure.
What is the profile of a typical client?
Our target market is regional health plans that often lack the internal resources necessary to manage their claim costs.
Why do you focus on health plans?
We believe innovation comes from creative regional health plans. Our role is to support them in their innovation and success.
Contact Us
YOUR PARTNER IN REINSURANCE EXCELLENCE
(651) 348-6928
PHONE NUMBER
250 Prairie Center Drive, Suite 335
Eden Prairie, MN. 55344
HEADQUARTERS
HOURS
MONDAY – FRIDAY
8:00AM – 6:00PM
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