CU Benefits Alliance, an employee benefits consulting firm serving the credit union community, has enhanced its Credit Union Healthcare Coalition (CUHC) model with the Alliance medical stop loss arrangement underwritten by QBE North America.
The program creates a direct relationship between CU Benefits Alliance’s Credit Union Healthcare Coalition and QBE.
QBE brings the experience and knowledge of an operating model aimed at lowering costs, increasing stability, reducing turnaround time on claims, and improving process efficiencies that facilitate employer productivity. QBE is one of the largest insurance companies in the world with over $14 billion in written premium and rated A (Excellent) by A.M. Best.
"This is an exciting advancement for the Credit Union Healthcare Coalition," said John Harris, CEO of CU Benefits Alliance. “The direct relationship with QBE affords us a tremendous opportunity to eliminate administrative steps, gain meaningful efficiencies and ultimately, provide our credit union partners with an opportunity for even greater returns."
CU Benefits Alliance expects to return a portion of the unused premium dollars to its credit union coalition members each year.
The collaboration also further aligns with CU Benefits Alliance’s mission; providing transparency, shared accountability and continuous cost improvement.
Strategic Risk Solutions (SRS) will provide financial reporting, regulatory compliance and program management services for the coalition premium funds.