Sagicor Life Inc. formerly The Barbados Mutual Group of Companies is a leader in the Caribbean Group Insurance marketplace. Its reputation is based on its financial strength, its image as a solid corporate citizen and its historical commitment to the markets in which it operates.
- Automatic Claims Adjudication for health plans; insured can settle claims at point of service with participating providers
- Significant presence in southern Caribbean, Barbados, Dutch Caribbean, Eastern Caribbean and Belize
- For life and health; utilizes a web based interface which allows both plan administrators and insured to interact with Sagicor systems directly
- For health, Sagicor facilitates direct credit of claim refunds to insured's bank account
Benefits
- Insurable benefits: Accident, Disability, Life, Medical and Pension
- Poolable benefits: Accident, Disability, Life and Medical
Minimum lives criteria for pooling
A minimum of 5 lives
Minimum lives to offer a local group contract
A minimum of 5 lives
CLAIMS PROCESSING (TTD*)
-
Death claims
14
-
Disability claims
NA
-
Medical claims
10
-
Retirement claims
10
IMPLEMENTATION AND RENEWAL PROCESSING (TTD*)
-
Local Quote
5
-
Annual Renewal
90
-
Rate Review
3 - 5
-
General Question
1
SERVICE MEASUREMENT CAPACITIES
-
Internal Monitoring
Yes
-
Portfolio basis
Yes
-
Client specific
/
-
Periodicity
Monthly on a portfolio level
NATURE OF SERVICE AGREEMENT
-
Joint commitment basis
Yes
-
Demonstration basis
Yes
-
Financial basis
Yes
CLAIMS MANAGEMENT CAPACITIES
-
Disability claims
Yes
-
Medical claims
Yes
-
Managed care
Yes