As a business leader, you no doubt are familiar with the term “entrepreneur,” which, according to Merriam-Webster, is “one who organizes, manages, and assumes the risks of a business or enterprise.” You no doubt also assume this role at work, either as a business owner, or the leader of a division, project or product. You may, not, however, equate entrepreneurship with insurance, but this Entrepreneurship Month, we’d encourage you to make the connection. Afterall, there exist a plethora of opportunities if you do.
The WorkPlace Solution
Workers’ comp insurance is, next to payroll and employee benefits, the biggest expense your business faces. Oftentimes, with traditional insurance programs, the provider is seemingly in charge, reporting on policy changes, price increases and the like. The script is flipped with insurance captive programs, which in essence, make the business the “part-owner” or “entrepreneur” in charge of the coverage.
This best-in-class solution ensures that when the captive is profitable, all the participating business owners are profitable as well—with loss ratios of less than 35 percent and mods averaging .88—resulting in profits recouped year after year.
The benefits of The WorkPlace Solution don’t stop with profitability, however; there are tax beneﬁts, better claims management control, ﬁnancial stability and opportunities for networking with other shareholders. Learn more about what makes The WorkPlace Solution unique by watching this video.
And if you’re ready to become an “insurance entrepreneur” this Entrepreneurship month, we hope you’ll give us a call to discuss your options.