As a Tactical Accounts Manager, errors in the allocation of deductions to policy premiums are a serious concern that could have far-reaching consequences for the department and the company as a whole. There could be a number of reasons why deductions are too small. One reason could be that employees are unaware of the true cost of their insurance premiums and thus fail to deduct the appropriate amount from their pay. This could be due to a lack of communication or education about the true cost of insurance, or to changes in premium amounts that are not effectively communicated to employees. Errors in deduction allocation can have a significant impact on the department and the company as a whole. It can result in client complaints, decreased customer satisfaction, and, ultimately, lost revenue. It can also result in higher administrative costs as employees work to correct errors and resolve client complaints. Information Technology Manager - Nadiya Bryan: A claim's insurance deductible is the amount you're obligated to pay out first before your insurance plan would cover a portion or all of the expense. Insurance providers use premiums as a strategy to ensure that members share the risk and cost of any disputes. The amount of a person's deductible varies depending on the type of insurance coverage, the insurance provider, and the premium rates charged. According to the basic rule, if your insurance has a large deduction, you'll pay less in either annual or monthly costs since you'll be liable for more charges up front until the insurance coverage comes into effect. As a result, the deductibles may have been too low because the employees paid greater premiums, which led to lower deductibles being implemented Operational Customer Service Manager: Akida Yorke: When clients update their policies in the accounting department, the other department may not be aware causing an incorrect deduction to policy premiums on client accounts. For example a client upgrades his or her policy from health to life and health this information must be conveyed through all departments. A deduction of the health policy only and not health and life will cause an incorrect deduction monthly. Critique the two suggestions above from customer service and information technology manager.
As a Tactical Accounts Manager, errors in the allocation of deductions to policy premiums are a serious concern that could have far-reaching consequences for the department and the company as a whole.
There could be a number of reasons why deductions are too small. One reason could be that employees are unaware of the true cost of their insurance premiums and thus fail to deduct the appropriate amount from their pay. This could be due to a lack of communication or education about the true cost of insurance, or to changes in premium amounts that are not effectively communicated to employees.
Errors in deduction allocation can have a significant impact on the department and the company as a whole. It can result in client complaints, decreased customer satisfaction, and, ultimately, lost revenue. It can also result in higher administrative costs as employees work to correct errors and resolve client complaints.
Information Technology Manager - Nadiya Bryan:
A claim's insurance deductible is the amount you're obligated to pay out first before your insurance plan would cover a portion or all of the expense. Insurance providers use premiums as a strategy to ensure that members share the risk and cost of any disputes. The amount of a person's deductible varies depending on the type of insurance coverage, the insurance provider, and the premium rates charged. According to the basic rule, if your insurance has a large deduction, you'll pay less in either annual or monthly costs since you'll be liable for more charges up front until the insurance coverage comes into effect. As a result, the deductibles may have been too low because the employees paid greater premiums, which led to lower deductibles being implemented
Operational Customer
When clients update their policies in the accounting department, the other department may not be aware causing an incorrect deduction to policy premiums on client accounts. For example a client upgrades his or her policy from health to life and health this information must be conveyed through all departments. A deduction of the health policy only and not health and life will cause an incorrect deduction monthly.
Critique the two suggestions above from customer service and information technology manager.
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