Roundstone Management has launched a voluntary benefits captive insurance programme, the first of its kind in the insurance industry.
The programme allows consumers to choose the specific product and payout level that meets their needs. It will include four coverage plans, including a limited medical, accident, critical illness and cancer.
All of the plans in the programme are designed to help close the gap between a high deductible health plan and amounts owed to healthcare providers, which is a growing need in the benefit space, according to Roundstone.
In addition, the product offers improved efficiency to stakeholders, including improved participation, reduced enrolment costs and increased year-on-year profitability.
Mike Schroeder, founder and president of Roundstone, commented: “Roundstone is excited to bring these voluntary benefit products to the marketplace.”
“The demand for these consumer-focused coverages is growing and the captive offers the advisers the opportunity to increase their revenue stream without churning markets every couple years.”
