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.
View the Playback of Our Webinar from August 14, 2019 to Learn More
Captive thought leaders Kirk Watkins and Art Koritzinsky with their special guest Karen Hsi the University of California Program Manager, Captive Programs, discuss strategies for effective captive growth. Learn how the University of California and its employees can save more than $20M by offering employee-paid lines of coverage. Click the button below to view the video.
How Does It 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 critical illness, accident, 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.
AM Best interview with Arthur Koritzinsky, Captive Advisory Leader,
Marsh Captive Solutions
AM Best interview with Michael Corbett, Director, Captive Insurance Section Tennessee Dept. of Commerce & Insurance
AM Best interview with Kirk Watkins, BeneCap Solutions Leader, Trion
Articles and Other Media – Click an item below to learn more about our program.
The BeneCap Team
BeneCap Solutions Leader, Trion
Kirk has more than 20 years’ experience identifying opportunities and supplying innovative solutions to Fortune 1000 companies through insurance product design, utilization of captive insurance companies, employee benefits, and payroll deduction technology. Combining his financial services, insurance and employee benefits expertise, Kirk created the BeneCap program. Kirk also holds two US patents in the financial services, HRIS and e-commerce areas.
Risk Analyst and Captive Consultant, Trion
Stephanie provides the financial analysis and modeling necessary to evaluate captive reinsurance programs and their impact on clients’ strategic and risk management objectives. In her work for a global captive management firm, she prepared captive feasibility studies and numerous captive applications submitted to and licensed by various captive domiciles. Additionally, she has acted as captive manager for over a dozen captives owned by Fortune 500 companies. As an insurance regulator for the State of Arizona, Stephanie licensed 50+ captive insurance companies and regulated over 130 licensed companies.
Business Coordinator, Trion
Joe joined Trion as a benefits consultant focusing on creating leading-edge benefit programs, to help clients reduce cost and attract top-tier talent. In 2017, he joined the Captive Insurance Practice as a business coordinator. In this role, Joe is a liaison between the BeneCap and Voluntary Benefits teams managing new business opportunities, and supporting clients in diversifying and growing their captives through low risk, highly predictable, voluntary employee benefits.
John is a Senior Consultant focused on helping clients maximize the value of their risk management programs and employee benefit plans. With more than twenty years of industry experience, John provides a unique combination of consulting and captive expertise with a balanced perspective and knowledge of both process and product management. John serves clients that range from the Fortune 500 to more regional employers.
National Employee Health & Benefits Practice Leader, Trion
Andrew has worked in the employee benefits field for more than 20 years and currently serves as a National Practice Leader for employee health and welfare benefits consulting. He is responsible for developing innovative market initiatives that anticipate employer and market needs, and for overseeing Trion’s consulting practice of account managers, client service and underwriting teams.
Captive Advisory Leader, Marsh Captive Solutions
Arthur is the Captive Advisory Leader, Americas in the Captive Solutions Group at Marsh, assisting clients with single parent and association captives, and risk retention for more than 30 years. Still serving multinationals already owning or considering a captive, Koritzinsky remains a key cog in the Marsh machine. A recipient of the Outstanding Contribution by an Individual award at the 2016 US Captive Services Awards, Koritzinsky was one of the few captive consultants to have been involved in the early days of Vermont and onshore US captives. In 2012, Arthur placed 8th on the Captive Review Power 50 list, which ranks the most influential people in the captive industry.
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.