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.
Why BeneCap?
All services are provided by Marsh McLennan Agency 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.
US Captive Review Awards Received
2020 Captive Innovation – Trion Group, a Marsh McLennan Agency
2020 Fronting Partner – Assicurazioni Generali S.p.A. – U.S. Branch
2019 Fronting Partner – Aflac Group Insurance
Captive Review
2019 One To Watch – Kirk Watkins
Marsh McLennan Agency and our Fronting Partners have been recognized for the following awards:
US Captive Review Awards Nominations
2021 Captive Consultant of the Year – Marsh McLennan Agency Shortlisted
2021 Cell Captive Initiatives – Marsh McLennan Agency Shortlisted
2020 Captive Service Professional of the Year – Kirk Watkins Shortlisted
2020 Employee Benefits Network – Trion Group, a Marsh McLennan Agency Shortlisted
2020 Fronting Partner – Aflac Group Insurance Shortlisted
2020 Underwriting Solution of the Year – Aflac Group Insurance Shortlisted
2020 Underwriting Solution of the Year – Assicurazioni Generali S.p.A. – U.S. Branch Shortlisted
2020 Captive Consultant of the Year – Trion Group, a Marsh McLennan Agency Shortlisted
2019 Employee Benefits Specialist – Kirk Watkins Finalist
2019 Reinsurance Company – BenPool Re Finalist
2017 Employee Benefits Consultants – Trion Group, a Marsh McLennan Agency Highly Commended
Business Insurance US Insurance Awards
2021 Insurance Consulting Team of the Year – Trion Group, a Marsh McLennan Agency Finalist
2020 Insurance Consulting Team of the Year – Trion Group, a Marsh McLennan Agency Finalist
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.
Third-Party Premium
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.
Reduce Costs
Employee-paid lines of coverage can help increase HDHP participation resulting in lower medical contributions.
Increase ROI
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.
Office: 877 652 6712
Kirk Watkins
BeneCap Solutions Leader, Marsh McLennan Agency
Stephanie Lefkowski
Risk Analyst and Captive Consultant, Marsh McLennan Agency
John Forde
Consultant, Marsh McLennan Agency
Andrew Neary
Chief Executive Officer, Marsh McLennan Agency
Arthur Koritzinsky
Captive Advisory Leader, Marsh Captive Solutions
