Understanding

 

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:

  1. 5- year Summary -Death Loss by cause
  2. 5- year Summary – Death Loss by cause and DOF
  3. Treatment vs Morbidity
  4. Vaccination Program vs Morbidity
  5. Metaphylactic treatment vs Morbidity