Definition: Brokers and consultants who specialize in insurance and risk management are usually independent intermediaries who represent buyers (employers) and act on their behalf.  They provide advice, negotiate the best deal, manage renewals and perform general administration duties in the interests of their clients. 

Brokers and consultants managing self-insured health plans are challenged with consuming vast amounts of information.  They not only collect, analyze and understand multiple streams of complex data, they must present those findings in a clear, compelling and defendable way.  They are expected to provide recommendations that are timely, actionable and ultimately correct.  The process can be time-consuming, repetitive and technical due to the complexity of regulatory considerations.


We help brokers convert tedious manual tasks into an automated process that is customizable and fast.

We do this through a combination of proprietary technologies, advanced analytics and machine learning.  Automated reporting significantly reduces the amount of work required to generate ongoing updates and performance metrics about the health of their clients’ plans. We also draw key strategic insights for next year’s plan design, constructing forecast models on actual data to uncover future clinical risks and identify financial drivers with greater certainty – unbiased, transparent and cost-effective.


Better Risk Scoring
Faster, easier, lower risk and 
  • Our proprietary risk scoring methodologies categorize risk into five levels, allowing brokers to make better financial recommendations by efficiently performing cost analysis against the actual risk. Scoring is applied to each member and the aggregate population. BSTs real-time production of “nearest neighbor” risk scores for existing prospects and prospective clients transforms a tedious manual process into a fast automated one.

Plan optimization (found nowhere else)
  • Our proprietary algorithm and machine learning considers the employer's budget, financial and quality goals and population risk to design next year's health plans and premiums. The Optimizer identifies the right plan and level by group and generates a pro-forma financial statement to project next year's performance. This optimization process obeys the overall premium, business quality and tier movement constraints to efficiently and appropriately place each group into the best risk allocation tier. 

Better risk prediction 
  • Re-banding: Our predictive model enables member-level risk clustering and classification, with the ability to work with incomplete years of member data (ex: 3/6/9 months).

  • Underwriting: BST is able to pull external consumer data and convert to member-level risk banding during rating with the ability to match or project enrollment by plan (keeping in mind that PEOs offer many hundreds of plans across many carriers).

  • Re-tiering: Ability to re-tier their risk at renewal. Annual re-optimization of rate bands based on claims, consumer, and demographic data.

  • MUCH Faster:  The traditional methods of building client-ready analytics exhibits require significant manpower for each client case.  BST allows consulting teams to easily apply the knowledge of their expert resources across all cases simultaneously – in a client-ready format. 

  • MUCH Easier:  Creating best-practice strategies and sharing critical insights across a large block of business is extremely difficult.  BST simplifies that process by providing performance dashboards which consolidate data between med, Rx, wellness, and others and display in the context of the overall health plan.  Financial and Clinical Reporting is largely automated, which can significantly reduce the work required to manually produce client reports.  

  • Less risk:  Creating best-practice strategies and sharing critical insights across a large block of business can also lead to gaps in coverage and high-risk E&O situations. BST can solve this inefficiency and help leadership manage their business more effectively in areas such as Stop Loss selection.  Our tracking module also enables ERISA and ACA compliance reviews.  

  • More competitive: Increasingly, for strategies and solutions to be effective they will need to be more specific and targeted.  BST enables brokers and consultants to apply smart and efficient data analytics and optimization capabilities today to enhance and differentiate their offer. With BST you can do for all accounts what today you can only do for your largest accounts.


BST Data Warehouse

BST gives brokers unprecedented access and visibility of all relevant plan data driving plan costs.  They have access to their data 24/7 where insights and actionable intelligence are generated through BST’s rich data mining toolsets. Data is refreshed monthly where it can be mined and evaluated.

BST enables Brokers to:

  • Access and analyze their plan data immediately.

  • Aggregate all relevant plan data for immediate or long-term use.

  • Securely store and access their own data.

  • Hold vendor’s accountable for effectiveness of results.

  • Normalized for continuous in-depth data analysis.

  • Multi-period/lifetime storage/data blending.

BST Descriptive Analytics

BST applies advanced analytics, machine learning and optimization techniques to identify lag measures, provides high-level views of total block performance and enables drill-down views of individuals through key metrics. We stratify risk, evaluate at a granular level and identify a health plan’s high-cost drivers.


BST enables Brokers to…

  • Identify financial drivers of next year’s plan in an efficient, automated, unbiased, transparent and cost-effective way.

  • Identify the right plan and level by group.

  • Obey the overall premium, business quality and tier movement constraints to efficiently and appropriately place each group into the best risk allocation tier.

BST Predictive Analytics

BST provides insights on global risk factors within a population by identifying high-cost drivers, historic patterns and relationships at a granular level – throughout the plan year.  We deliver actionable business intelligence through customized financial and clinical reports (robust enterprise or client-level) that provide customized views by key metrics of performance and cost.

BST enables Brokers to…

  • Process large data sets quickly

  • Uncover insight on emerging risk throughout the year

  • Better advise and hold vendor partners accountable

  • Unbiased, transparent and cost-effective

  • Meets HIPAA/ERISA compliance standards

  • Be accessible anywhere through a secure (SOCII/SAAE16) cloud-based platform.


BST Prescriptive Analytics

BST considers millions of scenarios, arrives at an optimal plan design and prescribes specific actions while factoring specific member needs and respecting the budgetary constraints and goals of the employer.


BST enables Brokers to…

  • Apply advanced analytics and optimization techniques to identify financial drivers of next year’s plan in an efficient, automated unbiased, transparent and cost-effective way to inform future plan design (could include supplemental products)

  • Gain confidence to make smart health-plan decisions with evidence-based support.