From a fiscal perspective, commercial insurance is undoubtedly one of the smartest investments for business owners. Afterall, a level of protection and preparedness can go a long way today in safeguarding a company’s employees, property and equipment. But do corporations consider the financial drain from cookie-cutter plans? Moreover, while companies are growing their business, who can they rely on to recommend the best protection tools and manage these innovative programs?
An alternative solution for many companies is insurance captives offered by eMaxx: a leading provider of captive programs that align with market trends.in addition to providing captive insurance programs, eMaxx develops risk management and claims management practices that mitigate the cost of litigation financing. For two decades, our professional team has worked with policyholders, agents/brokers and strategic partners (including insurance companies, law firms, third party claims administrator, reinsurance companies and marketing executives) to ensure that companies not only have the best products in hand, but can also control their destiny with unparalleled return on investment.
Skeptics may wonder why this is the best route for their company. The answer lies in the definition. A captive is a commercial insurance plan that is put together for an individual industry’s need—tailor-made so the corporate members can share in the losses and secure tremendous profits. In short, it’s an investment mechanism. Underwriting profit returns and interest earned on loss funds go back to its members. In some cases, this ROI can be up to 40% of the premium per year based on individual members underwriting experience and an additional 20% for the performance of the group.
The benefits are outstanding. Members help shape their own insurance program as a participant in their own mutual insurance company and can make proactive decisions as part of the Board of Directors and Governing Committees. Another advantage is that members can reduce their operating costs with the sponsored captive insurance structure. Companies can customize coverage, workers comp, auto and liability. eMaxx offers litigation management and claims management programs to help mitigate societal trends such as nuclear verdicts and litigation financing. Ultimately, because the insured controls the product, the insurance can evolve to suit the member’s needs.
eMaxx’s Captives Program
eMaxx’s captives program offers additional advantages, including 24/7 access to ‘eLIVE Connect’ (online training tools for employees), mobile training simulators and a centralized platform for management of insurance and risk management systems. Members participating in the program are required to adopt risk management vehicle technologies such as telematics and dash cameras that ultimately protect employees and companies. A recent report from AM Best found that captives are outperforming the traditional market, returning about $5.2 billion in stockholder and policy dividends between 2016 and 2020.
Abraham Lincoln once said that the “best way to predict your future is to create it.” This is possible when companies take control of their destiny with coverages and achieve lower costs through risk management tech, proactive loss prevention, solid safety measures, claims oversight and rewarding attorney partnerships. Contact the captive insurance professionals at eMaxx and shape your company’s future today.