BeneRe - 3x3x3 Challenge With Lamont Thurston
BeneRe, the first supplemental benefits group captive, offers better coverage and lower premiums, with financial transparency and potential year-end dividends for reinvestment in employee benefits.
Transcription:
What is BeneRe?
BeneRe is a group captive insurance program that guarantees employees get the majority of value from their accident, critical illness, hospital indemnity, and legal insurance policies. We have over 1.2 million employees in the program, and we can quantify over $70 million of positive impact since we founded this six years ago. Employers join the program based upon validated cost savings, the enhanced coverage, which we do a deep, deep analysis on, and total financial transparency for how every dollar is spent.
How is BeneRe different?
What sets us apart is that we are the driving force of positive change in the roughly $12 billion market for voluntary benefits. Starting with the knowledge that employers were frustrated by low claims, a lack of transparency of what was going on with those claims, and high commissions and profits associated with these products, we established a first of its kind captive program with four of America's top 10 insurance companies. The program ensures that a minimum of 60%, and as much as 70% of premiums go toward paying claims. In the event those claims don't run as high as expected or don't materialize, all the unused claims funds are distributed back to the participating ERISA plans for reinvestment in benefits programs for the employees. Consultants promote the improved employee alignment, and large employers really like the financial transparency and knowing that the employees are getting enhanced financial protection.
Who is a good fit for BeneRe?
BeneRe works with the nation's most respected insurance carriers, consultants, and brokers, and together we educate employers with over a thousand employees on how impactful captive insurance can be. We provide a really in-depth analysis on plan enhancements, cost improvements, and we project out what the reinvestment dollars would be based upon historical results. Plus, the program is super simple to join. Since inception, we've had over a 99% member retention rate. That's because of phenomenal client service and quantifiable results, and we believe we deliver the greatest employee value for voluntary benefits in the market, so please feel free to contact your broker, and we'd be glad to share more about the program.
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https://benefitsally.substack.com/
Transcription:
What is BeneRe?
BeneRe is a group captive insurance program that guarantees employees get the majority of value from their accident, critical illness, hospital indemnity, and legal insurance policies. We have over 1.2 million employees in the program, and we can quantify over $70 million of positive impact since we founded this six years ago. Employers join the program based upon validated cost savings, the enhanced coverage, which we do a deep, deep analysis on, and total financial transparency for how every dollar is spent.
How is BeneRe different?
What sets us apart is that we are the driving force of positive change in the roughly $12 billion market for voluntary benefits. Starting with the knowledge that employers were frustrated by low claims, a lack of transparency of what was going on with those claims, and high commissions and profits associated with these products, we established a first of its kind captive program with four of America's top 10 insurance companies. The program ensures that a minimum of 60%, and as much as 70% of premiums go toward paying claims. In the event those claims don't run as high as expected or don't materialize, all the unused claims funds are distributed back to the participating ERISA plans for reinvestment in benefits programs for the employees. Consultants promote the improved employee alignment, and large employers really like the financial transparency and knowing that the employees are getting enhanced financial protection.
Who is a good fit for BeneRe?
BeneRe works with the nation's most respected insurance carriers, consultants, and brokers, and together we educate employers with over a thousand employees on how impactful captive insurance can be. We provide a really in-depth analysis on plan enhancements, cost improvements, and we project out what the reinvestment dollars would be based upon historical results. Plus, the program is super simple to join. Since inception, we've had over a 99% member retention rate. That's because of phenomenal client service and quantifiable results, and we believe we deliver the greatest employee value for voluntary benefits in the market, so please feel free to contact your broker, and we'd be glad to share more about the program.
Click this link to subscribe to the BenefitsAlly Substack for FREE!
https://benefitsally.substack.com/