Bloom Insurance to Offer Businesses & Groups Benefit of Managing Medical Stop Loss and other Risk through a Captive Without Having to Create One
We are very excited to announce the launch of Bloom Insurance Company, a cutting-edge risk funding solution. Licensed in Delaware, Bloom Insurance Company is a series captive that offers businesses and organizations the benefits of insuring without the responsibility of creating a stand-alone captive.
Since 2004, Spring Consulting Group has been the premier provider of integrated and innovative solutions that help businesses and organizations yield health, wealth and productivity.
Bloom Insurance Company, which is bringing risk management to the sharing economy by creating a legal entity that can be divided into cells and rented out to companies and organizations interested in benefitting from a captive funding model to finance their risk; Most notably medical stop loss.
“We are so pleased to introduce Bloom Insurance Company, a turn-key solution to an often complex financial model,” said Karin Landry, Managing Partner of Spring Consulting Group. “We have found that developing an individual captive can seem complicated or even overwhelming to many businesses. Bloom will streamline this process, helping groups and businesses manage their risk through this innovative funding solution, and eliminating a headache for them.”
Businesses and organizations who rent a cell with Bloom Insurance Company will have access to an array of innovative product offerings from Spring Consulting Group, many of which provide a high-quality and plentiful marketplace for employee benefit vendors.
Members will also have access to Spring’s industry-leading human capital management system module, which refines and automates HR, Payroll and Benefits tasks – such as onboarding, time tracking, or compliance – bringing members into the digital age. Finally, Bloom members will benefit from the award-winning Spring team, whose decades of experience as captive consultants, underwriters, and employee benefit consultants will be available to them.
As a full-service offering that takes care of set-up and implementation for members, Bloom Insurance Company can save members both time and money typically spent on captive development. Additionally, Bloom offers the general benefits of insuring casualty/benefits risk using a series captive such as: continued administrative savings and day-to-day management services from an industry-leading captive expert.
To learn more about Bloom Insurance Company, click here.