What Does an MGU DO for You?
For growing companies navigating the labyrinth of medical stop loss policy providers, having a trustworthy coverage partner is invaluable. An MGU is an organization granted authority by one or more issuers to underwrite and administer insurance programs for the insurer(s)1. They are the intermediary or extension of an insurance carrier who has underwriting authority and can administer programs, negotiate contracts, settle claims, and more.
However, providing coverage is more than just underwriting claims data; it’s about providing a seamless experience and a full range of policy options. As specialized insurance experts, MGUs bring knowledgeable insights and a strategic approach when creating the right policy for you.
Bringing Value to the Table
An MGU partner providing risk management solutions is like an expert puzzle maker who knows precisely where each piece fits. This is the kind of focused service businesses can expect when they opt for an experienced MGU partner. Stop loss coverage is not a one-size-fits-all solution; rather, it’s a tailored suit crafted to fit the distinctive contours of each client.
There are a few key ways that MGUs differentiate themselves from direct writers. This includes their highly specialized knowledge when it comes to niche solutions. They are partners along the journey of analyzing claims data and providing the right policy options that align with your goals for cost with coverage. As an extension of multiple insurers, MGUs have the ability to create a more individualized approach to coverage options.
Another way that MGUs set themselves apart is through their unique ability to streamline the underwriting process. Since they are more specialized, it gives them the advantage of pivoting to market demands. This enables them to implement new and emerging coverage solutions quickly.
Protecting You from Risk
MGUs are a proactive partner in your business’s risk management strategy. By understanding your coverage needs, a policy can be developed to address your risk concerns. RMTS’s services are rendered in-house by an expert team of underwriters, attorneys, claims examiners, and account professionals.
The medical risk management solution we provide at RMTS is more than just a service; it’s a commitment to customization, stability, and a partnership that stands the test of time. When you choose RMTS, you’re not just choosing an MGU; you’re choosing a collaborator in your journey toward business excellence. Our goal is to be an integral part of your business’s success story by ensuring that your business is protected from both expected and unexpected risks.