Target Markets

The BSI Benepack Suite is designed to replicate Insurance Carrier Administrative functions in a multi-carrier environment. These functions are the core applications for a variety of insurance and benefit related industries.  PEOs, HMOs, TPAs, PPOs, and General Agencies can replace the Carrier in the following areas:
Acquisition Marketing

Proposal Generation

  • Multi-Line/Multi-carrier price quoting
  • Multi-Line/Multi-carrier Provider analysis
  • Multi-Line/Multi-carrier benefit comparison
  • Fully integrated custom proposal builder
  • Complete sales activity analysis by broker, rep, carrier and carrier product.

New Business Installation/Maintenance

Issuing Contracts

  • Issue and manage small group quotation and marketing process and install customers with contract definition and maintenance
  • Individual employer contract administration including broker/sales commissions
  • Premium allocations for trust, administration, and carrier
  • Multiple benefit packages for each customer by contract period

Case Installation

  • Sell, bind and install multiple carrier, multiple coverage for small group including the following:
  1. Employer information
  2. Application
  3. Amendment information
  4. Employer demographics
  5. Employer plans, coverages, effective dates etc…
  • Carrier information
  • Contact manager
  • Coverages and plans
  • Forms, letters/notification contact, booklets
  • Plan definition, provisions, options etc…
  • Cost/fee structure
  • Waiting periods, deductibles, co-payments etc…
  • Account History information
  • Trust/group coverages, carriers, plans, employer, collection, payments, billing etc…
  • Operator history

Call Tracking/Customer Service

Provide open and closed case inquiry and update facilities

  • Provide call tracking inquiry and update facilities
  • Inquiry and maintenance facilities for member/dependent:
  1. Eligibility, salary, benefits, status, effective dates, premium billed/collected, plans, plan structures, history etc…
  • Inquiry and maintenance facilities for employer coverages, plans and plan structures
  • On-line reference systems for carrier plan designs, plan descriptions, plan summaries, coverages, co-pays, deductibles, other plan provision/rules etc…
  • Automatic creation of signature ready documents
  • Operator historical data/tracking

Commission Processing

  • Maintain broker information
  1. Agent of record
  2. License information
  3. E&O information
  4. Reference information for employer and group
  5. Commission methods including flat percentage, scale down fees, service fees, multiple agent splits, overrides, and deposits
  6. Holds and accumulates commissions until broker’s meet licensing and E&O requirements
  • Maintain sales rep/management information
  1. Effective dates
  2. Time and dollar ranges
  3. Health and ancillary coverages
  • Tracking/Payment/History
  1. Multiple carrier/Multiple line commission receipts/payments
  2. Record and review carrier commission payments into cash collection system including use by sales persons in order to verify individual and broker commission paid, due, and pending
  3. Automatically generate sales rep. and broker commissions with override capabilities including splits by coverage by carrier
  4. Provide on-line commission query access for all agents via Internet
  5. Maintain sales person information for carrier, base compensation, incentive/bonus pay
  6. Maintain sales person/broker/manager service fees, schedules, codes and rates including effective dates, time and dollar ranges for all lines of coverage

Premium and Billing

  • Maintain membership information
  1. Coverages, multiple eligibility periods, member care history, member claim history, PCP/specialist history
  2. Billing/retro adjustments
  3. Eligibility verification
  4. Ancillary lines
  • Maintain employer and member coverage information
  1. Effective dates
  2. COBRA expiration
  3. Coverage termination and reinstatement dates
  4. Adds/deletes/changes on-line
  • Current and retro-active billing
  1. Adjustment/credits
  2. Accounts receivable current, YTD, and contract to date
  3. Cash maintenance
  4. Revenue maintenance
  • Daily cash recording
  1. Premium received
  2. Premium due
  3. Reserves/administrative fees
  4. Carrier payments
  5. Billing adjustments/credits
  6. Commissions paid
  7. Lock box and bank draft transactions

Reporting

  • Sales person/broker commission statements
  • Listing of employers/members/dependents with terminated coverages
  • Employer change report
  • Past due reporting including 30, 45 and more than 45 days
  • Enrollment missing information letters
  • Employer renewal letters
  • Client welcome letters
  • Daily cash receipts
  • Daily cash reconciliation
  1. trust, employer for specified reporting period showing opening balance, adjustments/credits, admin fees, current bill amount, current cash received, closing balances and unapplied cash
  • 10.employer account summary
  1. billed, carrier premium, revenue, expenses, billed loss rates, carrier loss ratio, covered lives (emps. and deps.)
  • Employer additions, deletions and changes
  • Employer revenue projection
  • Employer renewal summaries
  • Premium received, paid etc…
  • Carrier, broker, and miscellaneous payments and/or check payment lists
  • Carrier premium due summary
  • Listing of total revenue by product, carrier and coverage
  • Earned and unearned revenue
  • Census reporting
  • Line of business exhibits
  • Renewal rate summary
  • Prospect tracking