Let’s be honest… The insurance industry can be shady. Everyone has had to deal with issues from fighting over claims to their rates being jacked up without warning. Insurance companies can be unresponsive and often unhelpful. Insurance agents are sometimes so focused on selling the plan with the highest commission that they aren’t making sure you’re getting the coverage you need. Insurance carriers are often more focused on the bottom line than they are on maximizing your benefits.
For a business owner, the insurance you choose for your business can have a significant impact on many aspects of your business. Obviously, insurance for your company is a big investment. It’s also an investment that is partially required by law and partially necessary for employee satisfaction. I.e. It is not an optional investment.
When required to make an investment of this size, it is that much more important to get your money’s worth. Your company, employees, customers, and assets all need to be covered in case of accident or emergency. That means you need an insurance plan that meets your needs and an insurance partner that works to make sure you get the plan you need to cover your business. Your agent should be responsive and helpful, because there is a lot of money and a lot of people’s safety on the line.
Luckily, an insurance option exists that makes a lot of sense for a business owner. That option is called Group Captive Insurance.
Group Captives are member-owned insurance companies.
What exactly does this mean?
Because members are more than just clients, transparency and accountability are the tenets by which Group Captives operate. This type of insurance company is dedicated to the coverage of its members. They form personal relationships with members so they can become aware of and respond to their needs. Collaborating with members allows them to find them the plans that are tailored to their needs. And when carriers hike up rates, members can work with their Group Captive to find a plan in their budget that meets their needs.
This type of insurance partner is ideal for businesses, because they carry several expensive insurance policies, and they pay the price when they learn that their policy doesn’ actually meet their needs.
Because Group Captives are businesses themselves, they are also more knowledgeable about corporate insurance, worker’s compensation, liability insurance, etc. than a standalone insurance agent might be. They are also significantly more responsive and helpful than big insurance carriers, because members have a stake in the business.
Essentially, Group Captives represent the very best in protection, coverage, transparency, member collaboration, and customer service in the insurance industry.
Think Insurance. Think Group Captive. Think Waller.