QBE North America has launched of Agora, a group captive program with a focus on medical stop loss insurance. The program targets organizations with at least 50 employees that are focused on transparency and control of rising healthcare costs.
The unique structure of Agora provides a more streamlined solution compared to other group captive programs in the marketplace, including:
- Fully flexible plan design, cost containment solutions, service providers, and stop loss policy terms
- Transparent underwriting and monthly experience reporting
- Lack of adverse contract language and restrictive long-term commitments
- No burdensome conference or committee demands
Most employers in today’s economy are looking for ways to better manage their health plan costs. This search will only grow more urgent as revolutionary advancements in treatment, the rising prevalence of chronic conditions, and previously unseen economic conditions drive costs even higher.Tara Krauss, Head of Accident & Health at QBE North America
Considering these trends, we saw an opportunity to better support employers who self-fund their health plans by expanding our captive service model. QBE new model provides improved efficiencies to reduce unnecessary costs, long-term commitments, and potentially adverse contract terms.
Many employer-groups lack the resources and fundamental knowledge to effectively launch a captive solution for their self-funded health plan.
Agora is an open medical stop loss group captive owned, sponsored, and underwritten by a wholly owned subsidiary of QBE Insurance Company, a medical stop loss direct writing carrier.
With Agora, QBE’s segregated cell company, these employers now have an easy point of entry to the captive space as well as the ability to customize a solution to meet a variety of stakeholder needs. It’s about as turn-key as you can get for captive participation.
QBE insurance companies are rated “A” (Excellent) by A.M. Best and “A+” by Standard & Poor’s. Agora represents the latest and simplest point of entry to a range of captive solutions offered by QBE.
In addition to having significant fixed cost savings, captives can address specific risk management needs, which is why approximately 90% of Fortune 500 companies have established wholly owned captive subsidiariesMatt Drakeley, Vice President, Specialty Markets for QBE’s Accident & Health business
Organizations with self-funded health insurance plans in a captive have a better view of the factors driving medical claims, which can facilitate more proactive and cost-effective healthcare.
Smaller employers can also obtain the benefits of captives by joining a group captive. Counting both wholly owned and group structures, nearly 3,400 captives in the U.S. insure a wide range of insurance risks.