Taking on the many functions of worksite administration can be a complex and costly process, even for the most successful company.  This is due to the many functions across the entire worksite sales process, all of which must work together seamlessly.

At Vision Financial, we specialize in supporting the whole worksite sales process for you.  Not only does outsourcing these functions save you time and money, it allows you to pursue other strategic initiatives.

Market Support – Vision’s Market Support department works with producers to provide product training, proposals and new case set-up. They also perform group/case level underwriting per the carrier’s underwriting guidelines, verify agent licensing and appointment with the carrier, and establish initial contact with the employer to set up deduction and billing timelines.

Underwriting/New Business – Vision’s New Business department accepts both paper and electronic applications.  The department uploads all new business applications onto our administrative system and performs data entry verification.  New Business performs contract level underwriting per the carrier’s underwriting guidelines, fulfillment for carriers’ products, as well as fulfillment reporting for all submitted applications and reporting on all pending business requirements to the producer.

Deduction Management & Premium Billing – Vision matches the employer’s payroll frequency and accepts either paper or electronic payment files from employer customers. The Premium Accounting department provides initial and ongoing employer payroll deduction notification, performs list bill reconciliation, allocation of funds, and follows up on overdue employer list bills. 

Vision also bills participants directly for coverages that are portable or unable to be paid via payroll deduction (e.g., Unions, Associations).

Commissions – The commission system calculates and pays commissions twice per month at the group level. The Commission department processes 1099 data for carriers, provides 1099 statements to producers, and produces commission statements, checks or ACH to producers.

Policy Holder Service – Vision represents the carrier by providing service per the carrier’s specifications and standards. The Policy Holder Service department processes policy changes (increase/decrease in benefits, add/delete riders) as well as policy level transactions (policy loans, ownership, beneficiary changes).

Claims – Vision interfaces with either the carrier or the carrier’s TPA representative for claims administration. Vision’s Claims department promptly obtains all requirements upon notification of a claim and, upon approval, arranges for disbursement to the beneficiary.