Products and services

Market/Product

In the competitive environment of reinsurance, a company’s success depends, to a considerable extent, on its ability to stand apart. We have been successful in offering life insurance companies of all sizes the capacity to underwrite risks while maintaining proper risk management. We created our niche in the small to medium size company market. To better serve our clients, we provide them with in-house services that help them manage their insurance portfolio more effectively. We develop new products that will assist our clients in increasing their volume of business.

While maintaining our attention on the small to medium size company market, we have dedicated new resources to provide additional capacity and services for the large size company market. This is an exciting new development for Optimum Re.

We have a well-established focus and expertise on Critical Illness Insurance, an appetite for the product in multiple venues and we bring experience and expertise to the provision of special services outside the “norm” – helping CI clients with every facet of their CI initiatives.

The flexibility of our Company enhances the services we provide. We will address your unique ideas with an open mind and make available all the resources we have to assist your company in reaching its goals.

Lines of businesses

• Individual Life Insurance
• Individual and Group Critical Illness
• Accidental Death (ADB and AD&D)
• Common Carrier
• Specialty risk (Group Life)

We can offer both conventional and nonconventional solutions for these lines of business.

Service offerings

Actuarial pricing

• Information tools
• Pricing and product design support
• Prompt quote response time
• CI pricing and ongoing support

Administration

• State of the art information system
• Reliable, accurate and consistent data processing
• Electronic transfer capacity
• Individual cession administration at no extra cost
• Detailed and timely reinsurance reports

Claims

• Claim forms designed and reviewed
• Prompt claims processing
• Assistance in claim review and analysis
• Assistance with special benefit claims
• Experience with "Accelerated Living Benefit Claims"
• CI training and support

Marketing

• Dedicated sales team, life and CI
• Knowledge of small, medium and large company markets
• Underwriting and actuarial experience in the field
• Leading market presence in CI
• Development of new product concepts
• Product introduction seminars

Research and development

• New research available to clients
• Staffed by full time actuary and physician
• Custom turn key products
• CI product development and ongoing support
• Staying in touch with new developments and risk issues

Risk management

• Offering special reports for clients to verify retention, auto limits, and jumbo risk exposure

Underwriting

• International underwriting network
• 24 hour time service on facultative quotes
• Second opinion
• Guidelines design and application review
• Web-based underwriting manual for life and older age products
• MIB support
• 90 day follow-up listing
• Training seminars
• Unique Web-based Critical Illness Underwriting manual
• CI underwriting training and support

“Optimum Turnkey” marketing concepts

Brings to insurance companies a full support needed to market new products.

• Product design
• Computerized design of policy forms
• Graphic design of rate cards and applications
• Product introduction seminars
• Sales training support and sales campaign concepts

Current turnkey products

CAPP (Comprehensive Asset Protection Plan)

is a series of decreasing term plans with a critical illness rider covering seven (7) critical illnesses with or without return of premium.

LifeGuard 10

is an innovative 10 year R&C Term plan with Guaranteed rates that includes Living Benefit coverage for Heart Attack, Stroke, Cancer and By-Pass Surgery as well as for Accidental Death, Dismemberment and Common Carrier Accidents.

Option Term 4 Life

is a pioneering low cost “Termanent” plan that offers lifetime coverage without the costly burden of non-forfeiture values.

Simplified Issue Whole Life/Modified Whole Life Insurance

These are permanent products for the “Last Expense” market.

Critical Illness Insurance

Stand-alone critical illness products and riders

The future

The aggressive yet sensible development over the past twenty-five plus years has set the pace for the future. Focusing on the businesses it knows best, the Optimum Group has assembled a multinational team of professionals poised to open new markets around the world.

Our expanded focus to serve the medium to large company market demonstrates our commitment to new markets and profitable growth for ORIC and provides much needed capacity for the industry.