Doug Truax, founder and CEO of Everlong Captive, said insurance brokers are often unaware of the possibilities they have when it comes to health insurance and the possible benefits they could have with Everlong Captive.
"As a broker specifically, you need to know what is going on and why you need to switch to Captive Health Insurance and specifically why you need Everlong Captive," said Truax, a former broker himself.
He started his own agency, built it and then sold it. Companies that have 5,000, 8,000 or 12,000 employees have different insurance needs than those with 150 employees, which inspired Truax to branch off and form Everlong Captive.
"The insurance industry is at a tipping point," he said. "Disruption is gaining momentum."
Disruption is taking an alternative route and trying to "buck the system," the system being your traditional health insurance providers, Truax said.
The prices of traditional health insurance are simply not sustainable as they continue to rise with each given day. Everlong Captive is capable of providing the health insurance you need, while taking out the expensive costs that come along with it.
"Employers are getting more and more aggressive when it comes to figuring out the next best thing to do," Truax said. "If you don't position yourself and your clients, you'll be left behind."
Truax thinks that most brokers are aware of that now and understand the necessity to do things differently now. Everlong Captive is the solution if you are looking to "buck the system" and do things differently. Transparency and focus on cost reduction are a few of the pillars of Everlong Captive and the focus is on bettering brokers and their employees.
Everlong Captive does not allow more than 50 employer-owners per cell so that they are able to get to know and network with one another over time. This is so important, especially with Captive Insurance being so new and unknown. Through these short groups, you are able to learn the ins and outs from Everlong Captive, but also get applicable policies that have been proven to work effectively for other brokers.
Everlong Captive is an independent, non-private equity owned captive manager with multiple fronting carriers.
"I'm the owner of Everlong, I'm not going anywhere and I'm keeping it that way. If there's other players involved you don't know what's coming next," Truax said. "What you don't want to have happen is to work with a program manager that's actually a carrier. If this happens, you are pretty much stuck. This is why you need Everlong Captive."