LifePlans TPA Services
The LifePlans Third Party Administration approach uses a highly configurable, web-based solution built on a technologically advanced platform. This framework provides a high level of service to insurers, agents, policyholders, applicants and client management through dedicated web portals and management reports tracking key performance metrics. This environment empowers our clients with the tools to properly manage their insurance business effectively.
Features of the LifePlans TPA solution include:
- Administration for multiple product lines including Long-Term Care, Disability Income, Cancer and Critical Illness, and Supplemental Health Insurance
- Extended Call Center hours to accommodate policyholder and agent needs
- A customizable web platform that speeds time to market
- Scalability to increase or decrease policy plans and policyholders without extensive system modifications
- Automated error-free processes to manage premium billing and collections, agent commissions, reconciliation, and claim adjudication
- Overflow capabilities through co-sourcing with existing client teams
- Secure electronic transfer of data and images
The LifePlans TPA solution supports client activities related to:
- Policy issue
- Premium billing and collection
- Ongoing policyholder communications
- Agent commission calculations and payments
- Agent license verifications and appointments
- Mandatory state reporting, including partnership reporting
- Timely rate increase implementations
- Strong support for financial and actuarial reporting needs