Group reinsurance plays a vital role in the industry in assisting direct writers in managing volatility and exposure risk from group plans. SCOR offers a broad portfolio of group solutions. Companies involved in the group market know firsthand that it takes a unique set of skills to effectively price, underwrite and market group products.
Our experienced team in Minneapolis collaborates with clients in developing innovative and competitive approaches to addressing group risk in the US. SCOR’s global group operations complement these capabilities through the sharing of best practices worldwide.
SCOR offers a number of group solutions for US clients.
Group Life and AD&D Reinsurance
SCOR has a dedicated team of actuaries, underwriters and risk management professionals in Minneapolis to address group solutions, supported by the company’s additional capabilities in Charlotte and Kansas City. The Minneapolis team has decades of combined experience servicing our clients’ group reinsurance needs. At its core is reinsurance and risk management expertise.
SCOR’s group reinsurance team prides itself on its flexible approach to addressing specific client needs. Whether risk mitigation, underwriting support, or solutions to reinsurance administration issues, our team is prepared to explore strategies to address carrier-specific needs and objectives.
Accidental Death Carve Out Reinsurance
SCOR offers a comprehensive solution to address a life insurer’s most volatile aspect of group mortality – accidental death. Accidental Death Carve Out Reinsurance responds to both adverse frequency as well as severity in a company’s accidental death claim experience.
Specialty AD&D Reinsurance
In addition to more traditional AD&D products offered by our clients, we provide reinsurance solutions to address a variety of business lines including voluntary AD&D, standalone AD&D and other products, such as AD&D benefits written through affinity groups, worksite marketing or direct-to-consumer marketing programs.
Bulk ADB Reinsurance
This solution effectively can transfer up to 100 percent of a company’s accidental death benefit rider risk, typically the most volatile aspect of an ordinary life writer’s exposure.
Reinsurance for Self-insured Employee Group Life Plan
For a life insurer that exclusively writes ordinary life insurance, ironically its own employee group often poses the single biggest concentration risk within its portfolio. We offer solutions reinsuring up to 100 percent of the risk for carriers that self-insure.
All Packaged with Value-added Services
We constantly seek to increase client satisfaction by improving the value proposition to our clients. SCOR provides a wide range of actuarial consulting, facultative services (including medical underwriting assistance) and market research services, but we do this in a unique way.
Our highly adaptable service model can complement a ceding company’s unique culture, level of internal resources and the desired level of collaboration with us. Some companies desire the reinsurer to have a close partnership with the company’s various operational disciplines; others prefer a more strategic consultative relationship. We make your business growth a priority by serving as an unobtrusive business partner and a valued resource to support you in growing your direct group business.
SCOR is committed not only to supporting current group clients but also expanding our relationships with our individual life clients to provide a more comprehensive set of solutions. By adding group solutions to an already robust menu of risk and financial management approaches for individual life, SCOR becomes a more involved partner in our clients’ overall risk management strategy.
For more information on how we can help your company manage your group exposures, please contact someone on our Group Reinsurance team.