STEP Solutions Announces Medicare Supplement Product Templates

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STEP Solutions Medicare Supplement Product Templates allows for rapid configuration of plan comparisons, enrollment, eligibility and underwriting using electronic application, reflexive questionnaires and a user-experience tailored for Medicare Supplement products for the senior market.

STEP’s product configuration for Medicare Supplement products enables carriers to set up underwriting risk classes and network based plan options easily. Rates can be configured based on age or zip code. In addition, underwriting based on impairments can be configured using underwriting guidelines provided within the Medicare Supplement product template. The Medicare Supplement (“MediGap”) product template allows carriers to rapidly configure their Medicare Supplement product offerings. Using the STEP “Product Configurator”, business analysts at carriers can set up Medicare supplement plans, coverage options and benefits, guaranteed Issue rules and eligibility rules. These product attributes can then be tied to the underwriting risk classes, the e-forms and premium rates for the plans.

Workflow processes defined in the Medicare Supplement template enable product distribution using traditional agent and agency channels, direct-to-consumer channels or thru affinity and group enrollment distribution. The workflow processes follow an optimal path provided by the Medicare Supplement product template. Utilizing the Medicare Supplement product templates, carriers can configure and deploy their Medicare Supplement products on the STEP SaaS (Software as a Service) web platform within 12-16 weeks for all states and all Medicare Supplement Plans.

Step Solutions Group consistently expands the possibilities of getting new products to market faster and offers straight-through solutions for origination, issue, underwriting, policy administration and claims. The fact that faster cycle time yields lower cost and improves customer service drives STEP’s enhanced technical innovation strategy. STEP’s rule-based platform allows companies to focus on service and revenue, while releasing the obligation of low-level data gathering. STEP’s integrated platform has instant decision capabilities for life, annuities and health insurance products.

About STEP Solutions Group LLC.

STEP (Straight-Thru-Enterprise-Processing) delivers a state-of-the-art new business acquisition, policy administration and claims processing solution for Life Annuities and Health (LAH) insurance products on a fully configurable rules-based web platform. Our Software-as-a-Service (SaaS) system for New Business Acquisition, Policy Administration, Agency, Provider and Claims management of ACORD LAH insurance products has integrated document and task management capabilities to provide an enterprise platform that the reduces cost and complexity of administration of LAH products. STEP Solutions provides a transformational capability to life, accident and health insurance businesses by controlling expenses, accelerating revenue growth, managing risk by providing end-to-end automation to manage the complete life cycle of LAH insurance products.

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Shesh Rau
STEP Solutions
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