SMG & Iscential Insurance: Partnerships that work
Safety Marketing Group (SMG) knows that obtaining and providing affordable insurance coverage is one of the biggest obstacles that businesses face today. That’s why we have decided to team up with Iscential Insurance. By creating an avenue for distributors to purchase insurance options as a group along with other SMGdistributors, we can now leverage our membership numbers to achieve better coverage at significantly lower rates. Insurance giants Chubb and Nationwide are already chomping at the bit to get a chance to bid for our policy.
Group Insurance Opportunities Include:
- Property & Casualty
Saving money on insurance costs is only the beginning of the plans that SMG has for its members. With the consulting advice of Iscential Insurance, SMG plans to move to a captive insurance entity in which SMG will provide the group insurance, taking advantage of the aggregated risk across the group. When a company or group is able to operate a captive insurance plan, they are able to dramatically reduce their cost, insure difficult risks, increase cash flow, and take better care of their people without the increased cost that is incurred through traditional insurance methods.
Risk management elements benefits include:
- Custom-tailor more efficient policies that fit business and employee needs
- Healthy tax deductions
- Asset protection for the group
- Retain key employees by providing better, more competitive benefits
- Cover catastrophic or unusual risks
- Increased focus on risk management strategies
It is so important to have a qualified consultant on board in order for SMG members to maximize the benefits that are possible through the group insurance, as well as the captive plan. Iscential Insurance’s founder and CEO, Warren Barhorst, not only has a robust risk management portfolio, but he is also a member of Texas A&M’s Industrial Distribution Degree Industry Advisory Board, so he understands the unique challenges that distributors face.
SMG has a mission, and that is to provide ongoing support to our membership. By utilizing the innovative solutions and strategies that SMG provides, the safety distributor can expect to elevate their position in the market as dominant Senior Safety Specialists and increase their market share.