When it comes to insurance, many companies are stuck in the 20th century, overspending on policies that are outdated or not appropriate for their specific industry. The traditional ‘cookie-cutter’ plans of yesteryear may have worked well for businesses decades ago; however, in the 21st century, these policies typically lack the forward-thinking, cutting-edge technology that is available with eMaxx, a modern leader in the commercial insurance industry, specializing in utility and transportation.
A recent report from McKinsey and Company finds that insurance companies are now automating about 60% of their formerly traditional operations, such as claims and underwriting. In addition to making smart use of technology, corporations no longer need to lock into plans that benefit only the insurer. In a captive strategy, for example, commercial insurance is put together for an individual industry’s needs—tailor-made so the corporate members can share in the losses and secure tremendous profits. It’s a guaranteed successful investment mechanism.
With the eMaxx innovation programs, business owners can reap the benefits of both of these features: technology and partnership. Participants can become active board members—truly part of the planning process—with modern, customized policies that yield substantial returns on investment and put the policyholder in full partnership with the insurance provider. For more than 10 years, eMaxx has been a pioneer insurtech provider, meaning it brings novel technologies to jumpstart innovations in commercial insurance. By harnessing new developments in technology, the company has been a formidable driver of change in the transportation and utility insurance arenas. How service is provided, how data is collected and how insurers are actively consulted throughout the term of policy make the experience state of the art.
What types of innovation programs can a company expect? eCaptiv, for example, was launched to provide alternative risk solutions to small- and middle-market companies in various segments of the transportation industry. High-tech programs include the use of telematics to change driver behavior, vehicle risk management technology, autonomous vehicle equipment and digital platforms for monitoring Federal Motor Carrier Safety Administration (FMCSA) data. Other services include loss expense reducing technology systems and eLive Connect—a 24/7 online educational resource and digital support center with secure web-based loss prevention assistance and a safety learning center.
An exciting paradigm shift is occurring today that has driven the growth of businesses seeking to control their own destiny. Variable cost captive insurance programs have become the fastest growing segment of the commercial property and casualty insurance market. eMaxx has been, and continues to be, at the forefront of the industry. Why not become a partner and experience the benefits of tested technologies and proven partnerships that can catapult return on investment? For more information about unparalleled innovation programs, contact the expert team at eMaxx today.