Worried your broker isn't doing their due diligence, but don't have time to interview other brokers yet? Here's one question that keeps them honest without taking up any of your time:
"Please send me the last 24 months of premium vs claims and large claim data."
A broker who is on top of your plan can send that the same day, because they should already be looking at it. That one report tells you where you stand faster than anything else: whether your premium is justified by your claims, whether a handful of large claimants are driving the number, and whether any of them have already left the plan.
Even in a fully insured plan, larger groups can usually request claims experience and large claim reports. If your broker has never put that in front of you, that's a problem on its own.
And if you feel like you have to send this email in the first place, you likely need to re-evaluate that relationship when your schedule allows. In the meantime, this question should get you real information until you have the capacity to talk to brokers who would work hard for your business.
Questions to ask
- Can we get the last 24 months of premium vs claims and large claim data?
- Which of our large claimants are still active?
- Who owns our claims data, and can we take it with us if we leave?