SelmanCo contracts with insurance partners to perform various outsourcing administration services. These services are optimal for carriers and brokers that offer products such as Long Term Care, Supplemental Term Life, Life Portability, Life Conversion, Long Term Disability (LTD) Conversion and Accidental Death & Dismemberment (AD&D) Conversion.
Employer Groups/Plan Sponsors (“Sponsoring Groups”) provide scheduled files to SelmanCo which contain records of individuals that have lost coverage and are allowed the option to continue their insurance coverage. SelmanCo generates a notice of continuation and mails it to the individual. This process fulfills the Sponsoring Group’s responsibility to notify terminated individuals of their portability/conversion rights. The individual contacts SelmanCo to request a coverage quote or an application. Read the file feeds blog to learn more about this aspect of insurance administration.
In some cases, the Sponsoring Groups decide to retain the continuation notification requirement. Individuals may obtain a notice of continuation form from the Sponsoring Groups and submit it to SelmanCo for fulfillment. Individuals may also contact our customer service department directly to request the quote/application. SelmanCo generates the quote/application form and sends it to the insured. If he or she is interested in continuing the coverage, the individual will then complete the application form and submit it along with the required premium.
As part of the application process, SelmanCo employs enrollment verification examiners who perform the required eligibility checks on all incoming forms. We work with the necessary parties to processes the completed application, upload the records into our administrative system, and apply the required premium.
Another function of our administrative services is to provide premium billing to insured individuals and Sponsoring Groups. Various billing options include Individual ACH billing, Individual Premium Direct Bill notices, and List Bill services for Sponsoring Groups. We have flexibility to bill and collect on an annual, semi-annual, quarterly, and monthly (ACH) basis. Collected premium is reconciled every month, and premium is remitted to the carrier along with the required supporting documentation.
SelmanCo performs ongoing administration which may include policy issuance, processing address changes, processing coverage changes, beneficiary designation management, customer billing/coverage inquiries, cancellations/reinstatements, claim form issuance, claim file preparation, and claim processing/payments. Our customer service call center includes fully trained Customer Service Representatives, Call Center Supervisors, Administrative Support Staff, and an on-site corporate trainer.
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SelmanCo is one of the largest, privately-held US life and supplemental health insurance administration firms that specializes in reducing cost and increasing efficiency for associations, credit unions, banks, employers, and insurance companies. Our workforce of 200 professionals is headquartered in Cleveland, OH, with offices in Keene, NH and Baltimore, MD.
