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Overview Aspen Marketing Resources, a member of
the Aspen Management Corporation family of companies,
offers the following services in the initial design,
market introduction and ongoing management of
Limited Benefit Medical Plans and other supplemental
and specialty insurance products. It should be
noted that we at Aspen place a great deal of emphasis
on performing the following functions within the
existing corporate culture and operational structure
of our client companies. Upon executing a Program
Development and Management Agreement, we implement
the following plan of action.
Duties and Responsibilities
- Assist in preliminary discussions to define
target markets, solidify product strategies and
integrate the product into the existing corporate
culture
- Assist in product design to include
core and optional benefits and selection of supplemental
and specialty benefits to maximize cross-marketing
opportunities and revenue
- Advise on regulatory
filing and compliance issues
- Assist in the design
of initial marketing materials
- Assist with the
development of internal Underwriting, Proposal
Development and Enrollment processes
- Assist
in the integration of all new products into the
existing customer service process
- Conduct product
familiarization training for Senior Management
and Staff " Assist in the initial training of
all internal and field Sales and Service personnel.
This training includes product training, characteristics
of this emerging market niche, overview of current
competition, how to introduce the product to current
worksite and non-worksite producers, future market
trends and cross-marketing strategies and techniques
- Introduce the product into Aspen's extensive
producer network to ensure rapid market penetration
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- Establish a Market Intelligence Feedback process
to ensure an efficient flow of information on
product design, rating competitiveness and other
market information critical to the successful
initial introduction and evolution of the product
- Assist in the development of large Independent
Marketing Organizations (IMOs) for private label/co-branding
opportunities
- Develop opportunities to assume
blocks of existing business
- Assist in the development
of other specialty and special risk products to
capitalize on cross-marketing opportunities and
maximize revenue. This development includes innovative
approaches to risk sharing through fronting/reinsurance
arrangements that allow for future recapture of
ceded business
- Assist in the long-term management
and evolution of the product to ensure maximum
revenue and market life span
Summary
This list
of proposed tasks can be modified to meeting the
specific needs of our client companies. Program
Development Fees are based a monthly fee plus
direct expenses for the first 24 months or longer
if the product development time-frame warrants
it. The on-going Program Management Fees can be
structured as Managing General Agency fees and
are based on a percent of premium.
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