Why HM

Smart Practices

The high claims trend is dominating conversations in the insurance market. It’s a hot topic among professionals, in news articles, at client meetings and during industry events. It doesn’t matter if you’re a broker, carrier or policyholder, rising claims impact you. And everyone is working to find ways to get a better handle on the situation.

With this mind, HM Insurance Group has found great value in a number of smart practices that we’ve put into place to help us better manage the rising cost of claims and to support our approach to delivering high performance Stop Loss insurance.

Smart practices we have implemented include:

  • Applying Market Knowledge – Being in touch with industry trends helps to inform our business decisions and enables us to develop solutions that truly have an impact on results. We also have a great understanding of what may be on the horizon as we work to mitigate challenges for our clients and implement strategies for the future.


  • Making Informed Decisions – We use predictive modeling to help create a picture of the future state of our clients’ programs and to help improve risk-related scenarios. Better evaluation enables us to put the right coverage plan into place and leads to more informed rating decisions, helping us to maintain our own financial stability so that we can keep our promise of protection to our customers.


  • Using Expert Insight – Specialists with extensive knowledge of high-impact subjects can complement the contributions of a seasoned team of actuaries, underwriters and leaders as they develop strategic tactics. Our on-staff doctor of pharmacy provides assistance in the evaluation of risk and the identification of opportunities for improved cost containment practices, as well as serving as a liaison to our TPA partners.


  • Choosing Partners Wisely – HM deploys a number of tactics in the selection of vendors for cost containment efforts, including the use of a testing period and performance tracking. Based on the results of our evaluations, we offer our TPA partners access to well-vetted, quality vendors who can assist with mitigating exposure on catastrophic, high-dollar claims.


These are challenging times. Self-funded groups need solutions to help them gain better control of their outcomes and secure the financial protection they need, and HM is committed to delivering on our promises. We are working to provide stability through the uncertainty, using knowledge, experience and expertise to help manage the unpredictable.


Learn more about our experts’ thoughts on smart practices through the recording of our recent webinar: Protecting Self-Funded Plans with Stop Loss Backed by Smart Practices.