Tom Kilian
Tom Kilian
analysis believe blocks business compared confident continue due face focus improve increases market medicare necessary plans positive rate remain results rose segment senior supplement year
Our Senior Segment premiums rose 13%, or $23.6 million, for the year compared to 2004 due to new business and 2005 rate increases. To improve our results going forward, we believe that we implemented the necessary rate increases on our Medicare supplement blocks of business as we continue to focus on actuarial analysis and pricing. As we proactively face these challenges, we remain confident that our Medicare supplement plans will be a positive market for us in the future.
actively address affected both business challenges continue dollar faced focused growth increased issues larger loss medical medicare ongoing remain results segment senior severity stability strategy supplement
In 2005, we also faced challenges in both our segments. Results in our Senior Segment were impacted by a higher-than-anticipated Medicare supplement loss ratio. Our Medical Segment was affected by increased severity of larger dollar claims. In 2006, we continue to actively address these issues as we remain focused on our ongoing business strategy of growth in our Senior Segment and stability in our Medical Segment.
agents analysis both business continue continuing expense improved included increased manage medical objectives pricing product provide providing segments services strategic
In 2006 we will continue to manage both of our business segments for improved results. Our 2005 strategic initiatives included product development, increased new sales, actuarial and pricing analysis, and providing exceptional services to our agents and customers. Our 2006 objectives are increased new sales, expense reductions, actuarial analysis on our medical business and continuing to provide exceptional service.
aggressive believe business continue focus goals integral marketing plan reach
We believe we have put in place an aggressive but achievable plan to reach our goals this year. As an integral part of this, we will continue to sharpen our marketing focus in each of our business segments.