ESBD_503812_1775238397962_Financial Experieince FY2022.pdf
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- Solicitation number
- RFP-01-SBA-26-280
- Issued by
- Brazos County, Texas
About this file
This is a Claims Analytics and Financial Review document from The Hartford regarding the Texas A&M University System's employee benefit plan experience for the twelve-month period covering September 1, 2020 through August 31, 2021. The report provides a comprehensive analysis of life insurance, voluntary life insurance, and accidental death and dismemberment (AD&D) coverage performance across multiple employee categories including active employees, retirees, and their dependents. The document examines claims experience, loss ratios, and comparative metrics across six primary coverage categories to assess plan performance against established benchmarks.
The analysis reveals total constant premium of $21,453,109 with total incurred claims of $21,886,822, representing a combined loss ratio of 102.02 percent. Key findings indicate that Retiree Voluntary Life coverage carries the highest loss ratio at 233.12 percent and accounts for 41.2 percent of all incurred life claim payments, while Stand Alone AD&D coverage performs most favorably with a 50.41 percent loss ratio. Active Employee Voluntary Life experienced two significant individual claims valued at $832,000 and $814,000. The permissible loss ratio for Employee Basic Life and Dependent Basic Life coverage is established at 89.2 percent. Total paid claims across all categories amounted to $17,743,211, with an overall paid claims loss ratio of 82.71 percent.
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The Texas A&M University System 9/1/2020 – 8/31/2021
Claims Analytics and Financial Review
477116 02/21 © 2021 The Hartford. Confidential. No part of this document may be reproduced, published or posted without the permission of The Hartford.
Copyright © 2015 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. 11
Life Overview – Employee Basic Life and Dependent Basic Life
• Twelve months of revealed experience.
• Permissible loss ratio is 89.2%.
Copyright © 2015 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. 12
Life Overview – Active Employee Voluntary Life and Dependent Actives Employee Voluntary Life
• Active voluntary life is running very well
• There were two large claims for EE Vol Life $832,000 and $814,000.
Copyright © 2015 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. 13
Life Overview – Retiree Voluntary Life and Dependent Retirees Voluntary Life
• Retiree Voluntary Life has our highest loss ratio at 233% and represents 41.2% of all incurred life claim payments!
Copyright © 2015 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. 14
Life Overview – Stand Alone ADD Combined
• Stand Alone AD&D coverage is running well with a 50% loss ratio!
Copyright © 2015 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. 15
Life Overview – Combined Experience
Constant Premium
Total Incurred Claims Loss ratio Total Paid Claims Loss ratio
SA ADD $1,071,443.00 $540,099.00 50.41% $390,000.00 36.40%
Dep Retiree Vol Life $790,849.00 $892,850.00 112.90% $755,054.00 95.47%
Dep Actives Vol Life $1,872,428.00 $1,711,120.00 91.39% $1,449,314.00 77.40%
Retiree Vol Life $3,869,858.00 $9,021,356.00 233.12% $7,281,749.00 188.17%
Active EE Vol Life $11,428,600.00 $6,421,064.00 56.18% $5,039,798.00 44.10%
Dep Basic Life $120,070.00 $11,306.00 9.42% $10,000.00 8.33%
EE Basic Life $2,299,861.00 $3,289,027.00 143.01% $2,817,296.00 122.50%
Total $21,453,109.00 $21,886,822.00 102.02% $17,743,211.00 82.71%
File details come from the government source that posted it. Updated .