BeneRe’s supplemental group captive program has eclipsed 300,000 employees in just three years. We’re expanding with industry experts like Art Dickerson who will help our clients and their employees see even more benefits.
Key Takeaways
- BeneRe has grown significantly since its 2019 inception
- Starting with just three employer clients, we’ve grown to include 30 employers and over 300,000 eligible employees
- BeneRe is expanding its team, bringing in industry experts like Art Dickerson, who has four decades of experience in benefits innovation
BeneRe is a group captive insurance solution that is positively disrupting the benefits industry. We provide supplemental benefits — critical illness, accident, and hospital indemnity coverage — using a more efficient and transparent model.
Both employers and employees benefit from BeneRe’s approach. Employees pay lower, fully insured premiums, and BeneRe reinsures the program, returning all program dividends to employers to use for employee benefits reinvestment. The program removes the employee/employer conflict of interest that holds back many captive insurance programs, and it allows employers to participate in positive experiences with other employers in the group captive pool.
Since its inception just a few years ago, BeneRe continues to grow substantially each year and is always working with new people from in and around the insurance and benefits industries.
Founder and President Lamont Thurston says BeneRe is growing fast and focused on bringing in the right kind of people. “We’re hiring people with a fiduciary mindset who sincerely want to better protect employees,” he says.
What BeneRe has been able to do so far:
- Year 1, 2019: Started by covering 35,000 eligible employees (EEs). Clients saw 20% dividends.
- Year 2, 2020: Added more like-minded employers to reach a total of 110,000 EEs, with dividends of 25% (impacted by Pandemic claims suppression).
- Year 3, 2021: Eclipsed covering 210,000 total EEs. The Pandemic continued to depress claims filing, so clients still received 22.5% dividends.
- Year 4, 2022: Reached 315,000 EEs this year among a total of 30 employer groups while the pool performance continues to exceed expectations.
Moving forward into year five, BeneRe expects to add 200,000 EEs and establish a higher education pool. The company hopes to reach 500,000 employees by 2023.
BeneRe expands its team of experts
With all this growth, we’re expanding the team and bringing in some of the brightest, most accomplished people in insurance. We’re focused on bringing in seasoned industry experts who have already made big splashes in the market.
BeneRe recently brought in Art Dickerson as a new partner. Art is an executive with C-suite experience who has been working in the industry for more than 40 years. He is the president and CEO of TopGear Strategies, advising clients on practical innovations and staying on top of research.
Art holds two insurance licenses and is a board member for two privately held companies. He’s a decorated Vietnam-era veteran and a Certified Employee Benefit Specialist.
What Art says about BeneRe: “It’s the best value I’ve seen in 35 years in the health and benefits business.”
Art was also a Honeywell engineer, managing complex integrated systems. He then joined the healthcare industry and had a hand in crafting the first operational point of service HMO in the U.S. He later worked for PruCare of Houston, the original HMO, as its Chief Marketing Officer. He also spent 20 years working as a management consultant at EY and a health and benefits innovation leader at Mercer.
Art was the Chief Strategy Officer at Blue Cross Blue Shield’s Consortium Health Plans, working on national accounts and helping them respond to the Affordable Care Act.
Art’s experience as an innovator in the industry will help BeneRe continue to grow and improve.