Some improvements in business are obvious. For example, brand new customer service management platforms, interactive apps or virtual assistants are all touted as innovative and beneficial. Yet, many financial experts agree that there is a silent hero among commercial industries that may not receive the attention it deserves. It has slipped under the radar. Yet it gives businesses the power to assume control of risk management (and improve handling of these risks), grow potential cash reserves and fortify their overall operation. The secret tool: captives in insurance.
Forbes roundly praises this mechanism for businesses of all sizes and admits its surprise that more companies are not taking advantage of this financial superpower that yields “extraordinary benefits.” Small, mid- and large-scale business owners who are interested in experiencing all that insurance captives have to offer can partner with eMaxx, one of the nation’s leaders in this industry. The company is currently serving clients across the U.S. with a highly respected combination of risk management, technology and claims management tools that are outperforming the competition.
Skeptical business owners may ask ‘what are insurance captives?’ In a nutshell, this strategy is a type of self-insurance, putting the company in the driver’s seat as a true partner. eMaxx clients can become members of the board of directors and governing committees, having a voice in claims management decisions and coverage components. They manage their own company and enjoy tax savings, as well as increased cash flow. As a result, they are proactively planning for risk, implementing risk management and loss prevention strategies across the firm and, consequently, protecting assets from lawsuits.
Because the insurance is policyholder-owned, members can receive underwriting profits and dividend returns and enjoy accumulated investment income. Their program operating costs decrease because of sponsored reinsurance structure. They also are protected from large premium swings because they have control over costs. Members have enjoyed a reduction in frequency and severity of claims outcomes with a 46% reduction in existing programs.
In the world of captive insurance, the advantages are far-reaching—with access to extensive claims management and loss and prevention and safety programs for all members. Educational programs and state-of-the-art online training programs, including eLive Connect, promote accountability and responsibility and elevate the game for all members.
All programs are tailored for an individual company’s needs. Custom coverages include commercial auto, workers compensation and general liability. Partnerships have been successful in many industries. eMaxx leads the pack in product lines for transportation, towing, energy, recycling, waste management and construction, and is debuting its newest product line: crane and rigging.
Don’t settle for traditional passive commercial coverage. Partner with eMaxx, a tech-enabled leader in captive insurance, and take control of your company’s financial future today.