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Securian Financial

Secure Insights

Optimize your employer plan with our proprietary tool

Secure Insights is our proprietary, multi-faceted, data analytics solution developed in partnership with LIMRA for group insurance clients.

The tool leverages LIMRA industry data, 3rd party data, and client census data to develop the report and provide employers a deeper understanding of their population, their populations’ needs, and the products and services we offer.

Secure Insights provides a holistic view of an employer’s plan to help identify

Continue to innovate with enhanced reporting

New enhancements have been made to our Secure Insights report – which already evaluates employees’ readiness in the event of death – to show employees’ overall preparedness to financially protect themselves and their families in the event of an accident, critical illness or hospital stay. opportunities, set goals and make decisions and execute changes to help achieve the plan’s full potential.

Key featured insights

The following information highlights critical illness coverage within the report; however, we also create reports for our accident and hospital indemnity products.

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Sample report

Get the facts about employees and enrollment.

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Client score

The supplemental health Secure Insights score represents how financially prepared employees are in the event of an accident, critical illness or hospital stay.

To reach the score, we look subtract existing resources from the financial need and come up a gap amount.

The score is calculated for each individual on a client census, then aggregated to a combined, weighted average score.

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Secure Insights Score 54% of existing resources coverage, is better, but still leaves a large gap. EXISTING RESOURCES Secure Insights Score: 0 G O O D B E T T E R B E S T G A P FINANCIAL NEED

Population overview

Understanding employee population is key. The population overview represents the demographic breakdown of a client’s population that builds a foundation for the insights in the rest of the report.

Marital status, the presence of dependent children, and salary are critical variables when calculating need – and therefore have a significant impact on the analysis.

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Married population 58% of the population are married. 0 % are married

Dependent children 8% have children. 0 % have dependent children*

*Based on census data as of 01/01/2020 and adjusted to reflect US population data for greater accuracy. This adjustment is applied to all spouse and/or dependent information throughout the report due to data quality of the census file.

28 72 % % male female

Supplemental health product enrollment

This page highlights the enrollment of supplemental health plans – in this instance critical illness.

It can help the client understand those enrolled by their family status and the level (accident or hospital indemnity) or dollar amount (critical illness) and shows the client-specific plan design.

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Percent of enrolled employees by family status

80% 70% 60% 50% 40% 30% 20% 10% 43.3%1,152 of 2,661 17.0%452 of 2,661 10.5%279 of 2,661 29.2%778 of 2,661 Employee Only Employee & Spouse Employee & Child Employee & Family PLAN ELECTION

Non-participant data

Secure Insights can also help you better understand who is not participating in employer plans.

This page helps clients understand the demographics of non-participants, specifically marital status and dependents that can have an impact on their need.

Based on what we know about participants, this helps illustrate who may have a likely need and we can better educate them about the benefits of supplemental health with targeted communication.

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Percent of employees not enrolled by gender

Female Male 0.0 % 1,298 of 1,655 0.0 % 6,476 of 8,780

Percent of employees not enrolled by marital status

0.0 % 0 of 1,655

Percent of employees not enrolled with dependent children

0.0 % 1,300 of 1,918

Average employee supplemental health needs

How can employers better support employees dealing with an unexpected medical event? By understanding average employee critical illness – or other supplemental health product – needs.

We chose common, simplified claim scenarios to assess “need”, in this case, the common medical event is a cancer diagnosis.

Medical costs such as deductibles and coinsurance are considered, as are non-medical costs associated with transportation, food, and housing.

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Based on the likelihood of an employee incurring medical expenses due to a cancer diagnois

$35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Employee with dependents $34,150 AVERAGE INSURANCE NEEDS FAMILY STATUS Employee with dependents $22,995 Average out-of-pocket medical expenses (deductible & coinsurances) Average non-medical expenses $13,866 $6,668

Supplemental health insurance gaps

This page shows the gaps for the most common claim event, a cancer diagnosis.  The needs and resources are calculated for this event.  Note, we cover more than this example, we just chose the most common for illustrations.

82% of the population would have a financial gap in the event of a cancer diagnosis.  

The space between the average existing resources (yellow bars) and the average product need (green horizontal line) visually depicts the gap in the graph, by adding supplemental health products you can decrease this gap for employees.

Supplemental health insurance gap demographics

Secure Insights groups those with similar demographic characteristics into segments, creating a persona for each identified segment to help clients better understand the portions of their employee population with the largest gap

This persona allows us to tailor product solutions, including plan maximums that will better fit with the identified segments.

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Based on the likelihood of an employee incurring medical expenses due to a cancer diagnosis

$35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Employee with dependents $34,150 AVERAGE INSURANCE NEEDS FAMILY STATUS Employee with dependents $22,995 Average existing resources Average critical illness insurance need $18,168 $18,162

DISCLOSURES – not sure what is needed from this slide. I will check with Julia.

DOFU 4-2021