Celtic Ceases Writing Business in Three States

[STIBROKER]

but how is their underwriting....have not wrote a celtic in years.....

They have the cheapest rates in TX.............on the outside.

Once you start to look at their plans in any sort of detail, they are full of additional deductibles/copays.

They are our last resort if someone wants "cheap" insurance.

 

[AllenChicago]

Celtic - 4th Quarter Agent Notification.pdf - File Shared from Box.net

Thanks for furnishing the link to the complete newsletter, HealthAgent. I now recall seeing this about a month ago. Didn't pay much attention to the 3 states being discontinued though. Was mentally focused on the fact that Celtic had updated the materials to include the 9/23/2010 mandates earlier than other Co's. Thanks again.
-Allen
- - - - - - - - - - - - - - - - - -

but how is their underwriting....have not wrote a celtic in years.....

STIBROKER,
After Celtic was bought by Centene, Corp. in 2008, the company started approving people that had been turned down by one or more other carriers. I was made aware of there very relaxed underwriting in May of this year when a prospect who had been turned down by 3 companies told me that she was approved by Celtic.

So, I began placing people who were declined, or severely rated-up with Celtic. Of the 7 applications written since I licensed with them in June of this year, 3 were approved (1 was rated, 2 issued standard), 2 were declined, 2 are in underwriting.

One of the declines "timed-out" in Underwriting and 1 of those that is now Pending is in danger of Timing-out.

Celtic has one of the most (in my experience) perculiar underwriting techniques. The Underwriter herself calls the applicant. She tries 2 times. Leaves voicemails if need be during each of those two attempts. When the applicant calls back to speak to the underwriter, the underwriter is usally on the phone, or busy doing something else. After those two unsuccessful calls, a super encrypted e-mail is sent to the applicant that contains a Questionaire composed of the questions that the Underwriter wants to ask.

If the prospect is able to successfully set up an account to access this password-protected Questionaire and If the prospect completes the Questionaire and If the Prospect e-mails, faxes, or sends this Questionaire back to Celtic via U.S. mail, the Underwriting continues. If an APS is needed, it is ordered by and paid-for by Celtic Ins Co. If a Paramed, or other tests are needed, it is at the insured's expense.

The cumbersome, inefficient underwriting process is why Celtic shows a whopping 41% "Decline" ratio at the HealthCare.gov website. Most of these are applications that simply time-out in underwriting.

It would help if Celtic had a nice Agent's area at their www.celtic-net.com website...but they don't. Pending cases show just very miminal information, such as "Pending Medical Records", or simply "Awaiting Information", without saying what the heck they're waiting for.

Due to this lack of communication online, its necessary to call in to Celtic frequently. Getting to an Underwriting Assistant is usually very easy. There's minimal wait time and they quickly bring you up-to-date on exactly what's going on with any particular case.

A funny sidenote: Celtic is one of the most popular carriers on the Massachusetts "Exchange" (or whatever it's called) because of name recognition. Boston CELTICS.


Bottom Lines:

Celtic in the Chicago area is one of the lowest priced carriers.
Relatively small rate-up for Smokers. (20%)
Their Underwriting is Old-Fashioned/Inefficient in technique.
Their Underwriting is "Relaxed" with health risks. The Underwriting Manual/Agent Guide combination is just 13 pages long!
No Application fee for Online Sign-Up. Simple and Straight-forward App Entry by agent or applicant.
Their Online Agent Area is Virtually Non-Existant.
The company pays 20% commission to Agent / 5% to GA, on the full price of the policy as it's issued..including any rate-ups.

-Allen

 

[somarco]

I like Celtic Woman.

 

[YouGotMyMoney]

The company pays 20% commission to Agent / 5% to GA, on the full price of the policy as it's issued..including any rate-ups.

-Allen

That's all you had to say!

Now, I'm going to find out where they are most competitive and get a non res license.

 

[669comche]

We don't tend to have any issues with underwriting with Celtic.

Buts that probably more because we don't bother with the case.

If a client wants it, they are sent a link and they apply on their own. After that the DM seems to handle most issues.

 

[arnguy]

Are they competitive in PA? I was solicited by them a few years ago, but never signed up because I do small goups instead of individual.

 

[somarco]

I was solicited by them a few years ago,

So, what kind of pick up line did they use? Did they approach you in a bar or what?

 

[arnguy]

So, what kind of pick up line did they use? Did they approach you in a bar or what?

If I told you I would have to kill you, Bob.

 

[SalemInsuranceGuy]

I used to write Celtic around the early 2000s in Michigan and the rates were good, underwriting good and the DM support was great too. In Virginia the rates are too high. So it's no great loss having them pull out of Virginia.

 

[jbage007]

anybody bothered to check their little AM Best rating?? huh??

better check your E&O folks - the good ones won't cover companies rated like Celtic

I found their whole set up to be something Mickey would have set up (as in the Mouse)