Innovative Benefit Design will review medical, prescription, dental, vision, disability, life, accident, critical illness, hospital indemnity, legal, executive benefits, pet insurance, and others.

Unlike traditional insurance, where premiums are paid to a carrier for risk transfer and the carrier keeps the profit, group captives allow the business owners to share in the underwriting profits. The premiums in a group captive are generally based on the individual member’s performance, allowing for greater price stability over time.  Members are shareholders of the insurance company, allowing for direct control over underwriting, claims management, and service providers.

Typically the quoting carriers will require an employee census, copies of existing plan documents, existing plan design (and/or updated design if changes are desired), the most recent 3 years of claims experience, and current rates.