Throughout modern history, whenever there has been a major advancement in technology, insurance innovations have leaped ahead, as well. In effect, the economy and the insurance industry have grown in tandem. Technology advances in the past decade have been unprecedented, and most experts agree that moving ahead in 2023, the sky is the limit. PricewaterhouseCooper (pwc) has gone so far as to label the current era ‘the fourth industrial revolution.’ From automated claims software to online driver education and third-party databases, the tools used by tech-enabled companies are clearly re-shaping the way policies are written.
Among the frontrunners is the eMaxx Assurance Group of Companies. For more than two decades, this team of commercial insurance experts, technology specialists and risk management professionals have joined together to offer some of the most well-rounded, high-tech, owner-driven insurance and loss prevention solutions the country has seen in recent years. Their work in captive programs has been groundbreaking and they continue to lead the pack.
Thanks to these captive programs, clients become partners and owners. It’s a win-win. Because they are owned by the company they insure, captive owners decide to retain specific risks at lower costs. At the same time, the owners transfer others, (such as catastrophic losses) to an insurer. This eliminates the need to pay a conventional commercial insurance company. The result? When companies assume risk in a captive and use risk management technologies, they see a dramatic reduction in frequency of claims and a significant decrease in the severity of these claims.
eMaxx Insurance has particularly helped niche markets where adequate coverage is often hard to achieve because of the level of liability. These areas include emergency roadside assistance providers, transportation companies, waste haulers, recycling businesses, renewable energy providers, fuel distribution centers, utilities segments, construction firms and even crane & rigging. The results have been phenomenal. For example, only one year after the energy captive programs were launched, eMaxx Assurance delivered a 46% reduction in frequency and impact.
The eMaxx Assurance Group of Companies can make good on its promises because of the breadth and depth of its leadership team. Clients can think of the team as an ecosystem, or web, of adjacent industries working in tandem to provide the highest value to the insured and the insurer. No need to seek professional help from multiple providers. With eMaxx insurance, partners have at their fingertips: captive solutions, innovative collateral programs, risk management technology, proactive loss prevention and safety strategies and advanced/automated claims management services. The latter is one of the key elements clients look for in an insurance company, according to pwc. Speed matters.
Be proactive and propel your business—small, mid-sized or large—into the 21st century with a tech-enabled company that will not only be your insurer, but your partner, as well. Contact eMaxx directly or through an independent agent or broker today.