The power of insightRequest Information
The only risk tool of its kind, MagMutual OneModel™ is transforming how healthcare providers determine their coverage needs.
- Get a complete picture of your current coverage
- See actual risks you face in an evolving industry
- See the financial impact of coverage gaps
- Determine how much exposure to absorb
- Evaluate your premium and total cost of risk
- Make the best decision about your coverage
Understand your universe of liability and the potential risks you face
Using our proprietary data plus industry-wide data encompassing over 500,000 healthcare liability claims, and taking your location, specialty, practice type and more into account, OneModel establishes your universe of liability. This universe is specific to you and includes all your anticipated potential losses – even those you may not be aware of. By providing you with an accurate representation of your risk, we’re empowering you to make the most informed decision about your insurance coverage needs.
We make it easy
With nearly four decades of data to work from, we're able to compile your coverage profile for you in an intuitive, at-a-glance overview.
See how well your current coverage protects you against risks
We model your range of loss – from the most optimistic outcomes to the most pessimistic scenarios. OneModel then shows you what happens when your current coverage meets your universe of potential risks. Our innovative loss visualization model – the only one of its kind in the industry – lets you see exactly how your insurance policies work together to protect you from all the possible liabilities you face.
Evaluate all of your policies at once
By creating a visual representation of the policyholder surrounded by their policies, OneModel lets you see the scope of your current protection and where any gaps might be.
Understand your limits and deductibles
How far and wide does your coverage go? OneModel graphs it out for you, with the height and depth of the bar showing your policy limits.
Recognize your risk categories
You'll see your risks and coverages conveniently organized into three categories - the practice, business, and regulation of medicine.
Watch your policies in action
OneModel shows you all of your potential risks as they try to break through your protection, looking for vulnerabilities – where they succeed provides important insight.
Dive into the details of potential risks
Every risk shown is linked to a real claim. Clicking on them reveals further details and uncovers a valuable learning opportunity.
See the likelihood and financial impact of loss
Using a range of inputted variables, including your premium and amounts within your deductible and beyond your aggregate limits, the model lets you see your total potential financial impact from loss based on different coverage levels.
Optimize your protection to minimize your exposure
A complete understanding of the risks you face is vital to ensuring you are well protected. OneModel can help by showing where your current coverage is inadequate, excessive or just right. By making adjustments to your limits and deductibles, your agent can customize new coverage to optimize protection and meet your specific needs.
Run multiple simulations
OneModel shows you how well your current protection works, then lets you adjust variables, like limits, to see the difference it makes. It can be adjusted as often as needed to get precisely the coverage that works best for you.
Compare coverage options and your total cost of risk
At the end of the simulation, OneModel will present you with a side-by-side comparison of your current coverage and the recommended coverage, including loss potential, deductible, premium and total cost of risk. This comprehensive overview provides exactly the insight you need to make an informed decision.
What is total cost of risk?
Total cost of risk is your annual premium plus your retained losses (deductibles and uninsured losses) and any other risk-control costs.
Real experts. Real data. Real results.
In our nearly four decades of protecting and defending physicians and healthcare organizations, we’ve amassed industry-leading expertise, an information-rich database of over 50,000 healthcare liability claims and, through the use of our in-house actuarial team and data scientists, the ability to predict precisely the coverage our policyholders need. With OneModel, we’re sharing that insight directly with you.