Ringmaster Technologies: Streamlining Workflows for Stop-Loss Professionals
But change is on the horizon.
Ringmaster Technologies (RMT), a healthcare and technology expert, is disrupting the industry with its cuttingedge, cloud-based, fully automated Quote-LinQ® application and Smart-LinQ® account and settlement solution. Together, they facilitate a streamlined workflow that improves connectivity and enables administrative efficiencies for TPAs, brokers, MGUs, and carriers.
With its workflow optimization solutions, RMT integrates with dispersed systems, normalizes the data, and completely removes the manual data entry tasks from the process. By bringing TPAs, brokers, and underwriters to a single pane of glass where everything is logged, tracked, and audited, RMT enables all parties to collaborate and interact in a way that’s never been done before. Spreadsheets or share drives are now worries of the past. RMT provides clients with complete visibility into win/loss ratios, decline-to-quote percentages, and current quote status across all new or existing groups in one single dashboard.
“Our claim to fame is: we integrate with everything. We haven’t seen an influx of technology in the Stop-Loss space in over 15 years. Most of our customers don’t even know what is possible. We automate tasks that they thought were impossible to automate,” shares Jeremy Martin, CTO, Co- Founder, and Chief Architect.
Powered by a proprietary mathematical formula, the Matchdex feature of their Quote-LinQ application reverse engineers carrier risk profiles, allowing producers (TPAs and brokers) to target the carriers most likely to write the requested coverage for an employer group and avoid overwhelming them with numerous mismatched RFPs. Producers can align groupspecific characteristics with underwriters and their unique risk using Matchdex, transmitting Stop-Loss RFPs to underwriters that fulfill the needs of each employer group.
On the carrier/MGU side, Matchdex helps prioritize their workload and save significant time by showing RFPs that directly correlate with their own internal quoting specifications. By focusing on RFPs that are the best match for their business goals, MGUs/carriers can increase their win rates and earn higher profits.
“Our mantra is to make Stop-Loss professionals thrive and help them become better at what they do. As proud as I am of our technology and our workflow, I’m equally proud of the relationships we have with the people in the market,” says Martin.
Through those relationships, RMT has achieved outstanding results. One client, a large national broker, used the Quote-LinQ solution to gain visibility into all 45 of their nationwide offices. Quote-LinQ saved the client significant time and money previously spent on creating and generating RFPs. After performing a time study, the same client found that RMT’s solutions reduced RFP turnaround time by 40 to 50 percent. With this aggregation of buying power, the client discovered they were leaving hundreds of thousands of dollars of uncollected override commissions on the table.
Our claim to fame is: we integrate with everything. We haven’t seen an influx of technology in the Stop-Loss space in over 15 years. Most of our customers don’t even know what is possible. We automate tasks that they thought were impossible to automate,” shares Jeremy Martin, CTO, Co- Founder, and Chief Architec
RMT is already making administrative reporting and the quoting process more efficient, streamlined, and profitable, but Martin looks forward to transforming the industry from top to bottom. Keep an eye out for announcements in the coming months about RMT’s expansion into additional services and markets.