Valenz has launched CaptiV, a medical stop loss (MSL) group captive programme for self insured employers with fewer than 1,000 employees, in partnership with MSL Captive Solutions.
CaptiV is intended to solve the challenges market volatility can pose for small to medium-sized employers. It provides a fully integrated, data-driven model for cost and risk reduction, via an end-to-end analytics platform.
Valenz described the programme as “the next generation of MSL group captives.”
CaptiV leverages a larger and more diverse population than smaller companies have access to alone to reduce plan level and catastrophic risk. It can reduce costs, increase underwriting credibility and improve long-term rate stability, Valenz said.
MSL Captive Solutions develops and delivers comprehensive services exclusively for MSL captives and works with insurance carriers and claims administrators on behalf of Valenz CaptiV members. Valenz and MSL Captive Solutions work together to provide strategic, proactive risk control and cost-reduction decision making, with increased profits shared with the members of the group.
“We operate at the centre of the MSL group captive, actively engaging the group of employers and their employees in our proprietary ecosystem of data and service solutions,” explained Rob Gelb, chief executive officer of Valenz.
“Our analytic and predictive capabilities uncover new strategies to drive savings of 20-30 percent by targeting the high-dollar claims that drive the majority of health plan spending. We continually integrate those learnings among Valenz CaptiV members to reduce the potential for catastrophic claims and create value for everyone.”
The CaptiV ecosystem offers “unparalleled data-driven collaboration, from pre- claim loss to post-claim resolution, Gelb added.
Phil Giles, managing director of MSL Captive Solutions, said properly structured group captives can reduce costs and increase plan stability by effectively managing, diversifying and broadly diffusing risk.
“By taking a discerning approach to membership and enabling more active, data-driven risk management, Valenz CaptiV promises superior performance,” said Giles.
Valenz, CaptiV, MSL Captive Solutions, Rob Gelb, Phil Giles, Medical stop loss, Group captive