Grow and diversify your captive with BeneCap – BeneCap is an innovative risk management strategy, designed to help grow your captive with minimal effort and risk. By integrating employee-paid products with your existing risk management strategies, all stakeholders will benefit. This solution is available to onshore or offshore captives, regardless of your captive management affiliation, without the need for an ERISA exemption. With BeneCap, MMA and the fronting carrier provide the underwriting, enrollment, administration, and claims handling while the captive participates only on a financial basis. BeneCap is available to all companies with more than 1,000 employees, regardless of your captive management firm.
How Does BeneCap Work?
BeneCap integrates 100% of employee-paid voluntary benefits and programs within a captive’s existing risk management strategies. Designed to protect covered employees by providing additional financial security, the most common are accident, critical illness and hospital indemnity, legal, auto and home; and programs like cell phone coverage, electronic product warranties and ID Theft. BeneCap can diversify a more traditional captive structure, providing you with a solid base of low-risk, third-party premium.
All services are provided by Trion and its partners: plan design, underwriting, reinsurance agreements, administrative services, policy issuance, claim servicing, customer service, marketing, employee communications and enrollment technology. The program is structured as a quota share arrangement and your captive participates on a financial basis only, regardless of captive management affiliation. BeneCap is available to all companies with more than 1,000 employees, without requiring a change in your captive management firm.
BeneCap Summary – View/Download
Captive Electronic Coverage Overview – View/Download
Captive Review August 2019 – View/Download
Captive Review August 2018 – View/Download
Captive Review January 2018 – View/Download
Captive Insurance Times August 2017 – View/Download
IRMI November 2016 Growing Captives – View/Download
Captive Review June 2016 – View/Download
Diversify Your Portfolio
Reinsuring employee-paid voluntary benefits gives your captive a great source of diversification while providing stability and profit to your bottom line.
Reinsuring 100% employee-paid voluntary lines of coverage provides your captive with profitable third-party premium. Employees benefit by increased coverage, lower premiums, and greater financial security.
Employee-paid lines of coverage can help increase HDHP participation resulting in lower medical contributions.
BeneCap can provide additional profit and cash flow, as well as a funding source for employee programs.
Employee Enhancement and Benefits
BeneCap offers employees leading edge benefits and product enhancements, only available through a captive, supported by communication to help employee understand and more effectively use their benefits.