Our underwriting services are built around the experience and reputation of our key personnel, each of whom has served as a chief underwriter and/or business unit leader in a major insurance company. We structure our services in a fashion that best meets the need of a particular client, whether that be performing an underwriting review, providing ongoing underwriting management services or serving as a managing general underwriter.
Whether developing new generations of products for existing markets, or developing innovative, new, "never-been-done" products, we have the experience and staff to deliver successful results.
Our specialty line expertise, coupled with the business unit leadership experience of our key people, enable us to manage programs “from soup to nuts”: product development and underwriting management, contracting with distributors, overseeing administration and appropriate carrier financial reporting.
We put our experience, knowledge and staff to work for our business partners. Our clients can pick and choose any or all of the tools in the Meridian Toolbox, and we will help them on a consulting basis with the tasks at hand.
Specialty product lines need specialty actuarial support, such as performing valuation services, rate development, rate filings or experience analysis. We are fortunate that our Chief Actuary not only has that specialty product actuarial expertise, but he has an extensive underwriting and business unit leadership background. Clients rely on the experience of our actuarial team.
Policy Form Development
Having sound policy forms is critical to responding to market needs and sound claims management. Developing appropriate policy forms requires experience and patience. Clients look to us for our expertise, in drafting forms on their behalf, recommending amendments to their forms, or just offering advice on benefits, wording or form structure.
Rate Manuals and Models
Data collection and data analysis are critical to having the ability to develop rate manuals and rate models. Since our beginnings in 1999, data collection and analysis have consistently been strengths of ours. We have managed and analyzed nearly $2 billion of premium in specialty lines. This data allows us to develop rate manuals and rating models that are actually usable in a real distribution environment.
Unfortunately, sometimes specialty programs do not perform as expected. Meridian's risk management capabilities are well utilized in assisting a distressed block of business to get back to targeted expectations. Meridian has a history of helping both companies and producers manage turnarounds to competitiveness and profitability.
Meridian has always had close ties to reinsurance through our parent company Equinox Management Group, a well known reinsurance MGU. Carriers new to specialty markets often desire quota share reinsurance until they gain comfort with a new product or market. Carriers also typically desire protection against aggregations of risk or excessive policy limits. Reinsurance support and capacity can be provided in a timely and efficient manner through our Equinox reinsurance facility partners.
Securing Administrative Services
Meridian has always worked with a variety of service providers that serve the specialty markets, such as TPAs, marketing call centers, assistance companies or other service companies. We help our clients “find the right fit” with the various organizations we work with.