Not all cases are created equal when it comes to competitive offers from life insurance carriers — especially on the larger, more complicated high net worth cases.
More than ever, skilled and specialized underwriting makes or breaks the offer. With carriers becoming more particular about diversifying risk and managing capacity, they are inspecting large cases with caution — requiring more medical data and extensive financial information on applications with considerable face amounts, sizable premiums and complex funding strategies.
But it’s not just more information that is required. The information needs to be packaged and pitched to the carriers in a customized way that makes a strong argument for writing the risk.
This requires “know-how” in specialized areas of medical and financial underwriting, case design, advanced planning, and marketing.
Enter stage right — SWAT Underwriting — the secret to competitive offers.
What is SWAT exactly?
A dedicated and exclusive team of highly skilled underwriters with the credibility, experience, and advanced underwriting tactics needed to negotiate with the industry’s top insurance carriers.
Viewed as valued partners of the carriers, SWAT underwriters enjoy priority access to insurance company medical directors and third-party medical providers, advocating for the most competitive offers on the most advanced cases.
The SWAT underwriter is laser focused on the “complex”, such as impaired-risk cases, applications with large amounts of insurance coverage for high net worth and foreign national clients, financed policies, cases with complex business structures, and replacements of older policies that may include large tax-free exchanges and/or sizable loans, for example.
How does SWAT work?
Armed with a war chest of carrier intelligence at their disposal, the SWAT underwriter assesses mortality and morbidity risk, from the perspective of each carrier, in advance of forwarding the case to the insurance provider. The underwriter takes a holistic view of the client’s medical and financial profile and creates a narrative that supports the desired outcome and advocates for the best pricing-- all in the context of the carrier’s requirements, and its retention and reinsurance limits.
What’s the secret?
With an average of 27 years of underwriting experience with the carriers, the SWAT team is highly skilled at preparing and packaging up the case and negotiating with carriers to advocate for the desired amount of coverage at the best terms.
How does SWAT help?
The SWAT team of underwriters is an insurance advisor’s competitive advantage when seeking the industry’s best pricing for large and complex cases. The SWAT team manages the medical and non-medical administrative requirements, and advocates for the best pricing based on expert knowledge of clinical medicine, financial risk assessment, and carrier requirements—managing expectations of all parties along the way.
SWAT is the unique differentiator in the complex and large case market.