Tailored benefit solutions create an engaged workforce.
Unhappy employees can negatively impact your company culture. Even worse, they may leave their jobs and create additional stress on your business.
Offering outstanding benefits can help improve productivity and engagement, and a dedicated workforce helps create a better experience for your customers. A tailored benefits strategy can make that happen — and it doesn’t have to increase your costs.
HUB offers a unique alternative to traditional benefit programs — HUB Agribusiness Benefits Captive — for employers with over 50 covered employees.
What is a captive?
A captive is a program designed to better manage risk. Our HUB Agribusiness Benefits
Captive provides a structure for like-minded employers to capitalize on the economies of
scale created to increase purchasing power, more effectively manage risk and negotiate
favorable fee structures among vendor partners.
Agribusiness captive insurance offers several advantages, including:
- Improved risk management
- Cost reduction
- Comprehensive coverage
- Underwriting profits and investment income returns
- Cash flow improvement
Is a benefits captive right for my business?
A benefits captive allows employers to control and administer their benefits plan. The employer acts as their own insurance company, backing claims with their cash reserves and stop-loss insurance.
The HUB Agribusiness Benefits Captive offers employers from all segments of the agribusiness sector access to tailored benefits captive insurance within their industry group. Here are the key advantages to joining this captive:
- Tailored benefits programs: Optimize your benefits budget by selecting the benefits that are best suited for your employees and their families.
- Significant savings on good years: Low claims contribute to decreased annual costs, unlike a fully insured plan where you experience annual renewal increases regardless of your company’s claims experience.
- Access to specific and aggregate stop-loss coverage: Both specific and aggregate coverages are included to protect against the risk of unpredictable claims. Every member contributes to a fund that creates a long-term buffer against stop-loss premium increases.
- Integrated cost management: Your claims data feeds an integrated cost management intelligence system that triggers interventions to help your employees get the right care and help you control costs. Data-driven intelligence and advanced analytics help you act on opportunities to reduce costs.
Agribusiness captive insurance is best suited for agribusiness employers with stable claims experience and a predictable cash flow. The product is available to all clients in the United States.
To find out if HUB Agribusiness Benefits Captive is the right solution for you, talk to an agribusiness specialist.
