World Insurance

[TXINSURANCE]

I try not to ask my doctor about insurance and in exchange he tries not to ask me about brain surgery. It is a fair trade.

Get 100 doctors in a room and ask them what carrier they prefer and the data is a mess for a variety of reasons.

In most markets (in my opinion) the Blues tend to favor well with most providers which is ironic since they typically have the highest network discounts.

 

[bill3173]

Anybody here been contacted by World to market their products?

Haven't been interested in them in the past, but their new portfolio sounds pretty good. Spent a little time on the phone with them today.

 

[somarco]

World does a lot of private label marketing, so it depends which IMO is contacting you. At one time they had probably half a dozen different products on the street. Each had minor variations.

When World was family owned and used the PHCS network they were pretty good in some cases. Then they sold to American Republic, signed a deal with Great West to use them almost exclusively and things went downhill.

They had decent underwriting and would take some things other carriers did not. They also had the most liberal ht & wt chart of anyone. I wrote some fatties with them that couldn't go elsewhere.

When they sold, and other carriers went to online apps World was still stuck in the 1950's. I had a major falling out with their IMO in TX and decided it just wasn't worth putting up with. Even more so since they really didn't have anything I couldn't get elsewhere and there is no name recognition.

Each market, and each agent is different. Most of what I need can be handled with 3 - 4 carriers. I use mostly Aetna, Humana & Golden Rule. Sometimes I go to Blue or KP and very rarely Time. If those 6 can't handle it there is little reason to move beyond.

JMO

 

[bill3173]

Three things caught my attention:

1. Excellent network in this area
2. Flexible plan design for clients on a budget
3. Competitive pricing

I have been predjudiced against what are termed "second" tier carriers in the past, but if there is a downside, it would be uw or renewal, which I don't see how they can be any worse than anything that I'm dealing with now on renewal premiums.

 

[Crabcake Johnny]

"2nd tier" is a matter of opinion. I had lunch recently with an agency owner who's been in biz for 22 years - he can't imagine why anyone would touch GR or Humana calling them "also ran" carriers. It's opinion.

All carriers pay claims as stated in the policy. I fully agree Bill - I've seen unjustified rate increases with "1st tier" carriers so really - what's the difference.

If 1st tier involves name brand recognition then line up 100 people and ask how many have heard of Golden Rule.

 

[somarco]

The renewals I have seen from World were higher than with other carriers. Of course those are on policy forms they no longer offer.

This is typical of a lot of carriers. They write a block of business, it starts to go south, they pull it and replace it with a new line. The old block either ages off or goes into a death spiral.

From what I saw, they introduce new policy forms about every 5 years or so. The new plans may well be competitive for a while.

If they are still using Gt West and they have a decent network in your area they might be a good fit. They are not that strong here in GA.

 

[bill3173]

"2nd tier" is a matter of opinion. I had lunch recently with an agency owner who's been in biz for 22 years - he can't imagine why anyone would touch GR or Humana calling them "also ran" carriers. It's opinion.

All carriers pay claims as stated in the policy. I fully agree Bill - I've seen unjustified rate increases with "1st tier" carriers so really - what's the difference.

If 1st tier involves name brand recognition then line up 100 people and ask how many have heard of Golden Rule.

There is a tendency to speak in generalities about carriers on this forum, but with health insurance, there are inconsistencies not only interstate but intrastate as well.

AMS got gay bashed to hell and back when I mentioned them, but they have paid more in claims for me and get this, their renewal premiums have been better than the competition in the areas that I've written them.

I don't want to talk trash about the carriers that I'm actively writing, but suffice it to say, there are a lot of variables and my top two carriers that I use in one state or even "section" of a state are not the same as another.

 

[Crabcake Johnny]

It's not difficult - recommend the most solid plan you can find that fits in your client's budget with UW that won't exclude their conditions when possible.

I find it very easy to compare carriers "apples to apples" by stacking up their HSAs.

 

[SportsNut]

Anybody here been contacted by World to market their products?

Haven't been interested in them in the past, but their new portfolio sounds pretty good. Spent a little time on the phone with them today.

Health Choice One offers World. Highly recommend HCO.

Health Choice One - Health Insurance, Medical Insurance, Life Insurance, Denver, Colorado

 

[moonlightandmargaritas]

"2nd tier" is a matter of opinion. I had lunch recently with an agency owner who's been in biz for 22 years - he can't imagine why anyone would touch GR or Humana calling them "also ran" carriers. It's opinion.

So let's compare "market share" (certainly objective criteria)...

Suppose folks like World, etc. are anywhere near UHC and Humana in markets where they compete?