Cooperatives like VeriPrime qualify for a special category of insurance, offering its members unique advantages in services, premium costs, and risk mitigation. Known as the “captive insurance structure,” it is designed to cover uninsured, under-insured, and inefficiently-insured risks and is available exclusively to cooperative members.
Benefits VeriPrime members will get from operating under a “captive” structure are:
- A new revenue stream
- Reduce cost of risk
- Tax advantages
- Stabilized pricing
Starting a captive begins with a feasibility study to determine premium costs.
Benefits of Participating in this study:
Participants submitting 5-year historical hospital data into the pooled data set will be analyzed by the Willis Actuarial Team. Participants will receive a copy of the final analysis which will include reports such as:
- 5- year Summary -Death Loss by cause
- 5- year Summary – Death Loss by cause and DOF
- Treatment vs Morbidity
- Vaccination Program vs Morbidity
- Metaphylactic treatment vs Morbidity