One of the most common pain points businesses face with insurance renewals is timing. Many companies report receiving their auto and workers’ compensation renewal quotes only a week before their policies are set to renew. This last-minute delivery leaves them with no choice but to accept the recommendation from their broker, without the chance to explore other options or market their policies for better rates.
The Group Captive Solution
Group captives offer a game-changing alternative. With a group captive, you can expect to receive your renewal quote well in advance—often one and a half to two months before the policy renewal date. This extended timeline provides you with:
- Ample Time to Review: You’ll have the opportunity to thoroughly analyze the policy, understand its coverage, and evaluate the premium costs.
- Flexibility to Explore Options: Instead of feeling pressured to accept a last-minute renewal, you can take the time to consider whether the policy meets your needs or if alternative options might be better.
- Greater Control Over Your Insurance Program: Early access to renewal quotes empowers you to make informed decisions that align with your business’s goals and budget.
Why Choose a Group Captive?
Joining a group captive doesn’t just solve the timing issue; it provides additional value-added benefits. Group captives are designed to give businesses more control over their insurance programs, promote risk management, and often result in cost savings over time. By participating in a group captive, you’re not only addressing renewal frustrations but also gaining a strategic advantage in managing your insurance.
If you’re tired of the last-minute rush and want to experience the benefits of a group captive, give us a call. Let us show you how this solution can transform your insurance process and why it’s a smart move for your business.