Critical Illness Insurance Living Benefits Center

Proposal for Critical Illness ID Card

The insurance industry today is plagued by flat sales, unsatisfactory increases in premium collected and low persistency. In fact, according to LIMRA International of Windsor Conn., "...sales results in 1995 were an all around disappointment for most life insurance and annuity companies."
Also, insurance companies today are starved for current data on existing policyholders, contributing to inaccurate planning for future investment strategies and growth. While the 1980s provided a boon with policy replacement, those days are over and insurance companies must seek other ways to gain a competitive edge: ways that are unique, and have long lasting results and effects and differentiates the company from the rest of the industry.

At Critical Care Card, Inc., and Briarwood International, Inc. (business partners), we propose a Customer satisfaction program. The Critical Illness ID is designed to benefit both the policyholder and the insurance company. The program can be implemented in a number of ways.

First, through an annual holiday greeting and thank-you package, in which a profile sheet is included for an initial issue or an update of the card. If there are no changes in the policy holder's medical information, then the profile sheet could be used for another family member or a friend, thereby providing the insurance company and the agent with a lead generation program they would not otherwise have. And of course, all new policy holders will receive a profile sheet for a Critical Illness ID card in the policy delivery package.

When the policyholder receives, fills out and returns the profile sheet several things happen. First is increased policy persistency because the policy holder perceives higher value and is therefore a "satisfied customer".

Additionally, Critical Card Card, Inc., maintains a 24-hour toll-free help desk, which provides a means for policyholders to receive a new profile sheet in the event that medical information changes or a card is lost or damaged.

The insurance company benefits by receiving timely data from these updated profile sheets to help develop new products, aid in the development of optimal reserving and investment strategies, and gain a unique annual snapshot of future mortality and morbidity statistics through continual evaluation of existing blocks of business.

In summary, your company benefits dramatically from this Customer Satisfaction Program in two ways:

1. For existing policy holders, it could be used to:

Introduce a new product by offering a complementary card, available for a short period (10 days for example), and at cost afterwards. This helps agents set appointments to discuss the card and opens the door for new business. When a new product is introduced, the cost of the card can be incorporated into the policy fee. As volume increases, the cost of the card decreases, providing an additional profit center to the insurance company.

A thank you program to enhance persistency, company image and perceived value of the product, ultimately providing another opportunity for additional business.

Be packaged with product delivery for higher product value
In addition, this program offers an opportunity to enhance agent recruitment.

What is the Critical Illness ID Card?
The Critical Illness ID card is a wallet sized attractive laminated card with an easily read, high quality microfilm insert that contains vital medical and physical information that everyone should have in the event of an emergency. Included in this information is the policyholder's name, insurance information, personal physician, present medical conditions, allergies, blood type, emergency contact person and many other vital facts. The Critical Illness ID card is designed to help save lives, cut emergency treatment costs and is available at reasonable cost.

Who Has Endorsed The Product?
The Critical Illness ID card has been accepted nationwide by a variety of organizations because of the life saving and cost saving benefits it offers to individuals. The following is a partial list of endorsements received by Critical Care Card, Inc.:

Lifeguard Air, Inc. Mr. Aaron Waldrop, President
"We are pleased to endorse the ...(Card) and will certainly encourage everyone we come in contact with to apply for this valuable service."

Area XIII Special Olumpics Jerry Daunt, Area Director
"We are enthused about the idea of the Cards and are hopeful that all of our athletes will be able to obtain one."

American Hospital Association Virginia Richardson
"The ...(Card) meets all the criteria of an essential life saving and cost saving tool."

Mrs. Godfrey Lettier - A card holder
"...Last month my husband got in a bad wreck. The doctor said because of your card he was able to treat my husband faster....and was able to notify me."

Donna Richard - A card holder
"...I am an insulin depentent diabetic and I am very self conscious about my health especially when I am away from home. Both my physicians really like the card and recommend it to all their patients."

How much does it cost to implement this program?

There is an initial setup of $9,500.00, which includes:

Customized profile sheet

Customized ID card with company name and logo

Customized brochure

Multimedia presentation

Help and consultation to integrate with your distribution package

Card pricing is based on monthly volume with policy issue and with annual renewal and includes fulfillment of the cards from the profile sheets and the maintaining of the help desk.

Annual Volume Price Per Card
From 1 - 2,500 $7.50
2,501 - 5,000 $7.21
5,001 - 7,000 $6.93
7,001 - 10,000 $6.69
Over 10,000 $6.52

All price quotes are in U.S. dollars. Foreign currency price quotes are available upon request. A portion of the price of the cards for individuals who received no new card, due to no change of information, will be returned back to your company. The amount will be calculated and forwarded to your company at the end of each calendar year.

How To Begin?

By contacting Briarwood International, Inc., and discussing exactly how you want to start, such as to existing policy holders or to new clients. We will then set up a meeting at which you will present to us the specifications for the customizing or your profile sheet and Critical Illness ID card, and we will plan the implementation of the program including the rollout date.

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