Take control of your insurance with alternative risk solutions
At Dion Strategic, we help you take charge of your insurance program and reduce your overall risk costs through alternative risk strategies like captives and self-insurance. Our goal is to provide you with more control, better coverage, and long-term savings.
Our approach begins with understanding your unique needs and risk profile. We conduct thorough feasibility studies to determine whether alternative risk options, like captives, are a good fit for your organization. Once we’ve established that it’s a viable solution, we guide you through the entire process, from implementing a captive, insurance reciprocal or group deductible program and providing ongoing support and actuarial consulting to ensure it operates smoothly for the long term.
Every organization is different, and that’s why we work closely with you to decide the best timing and approach for implementing a captive insurance structure. The decision often depends on factors like your total cost of risk and whether self-insuring certain aspects of your coverage could lead to significant savings compared to traditional insurance.
Association Captives
Association captives are created by groups, often from the same industry, who pool their risks to share the benefits of self-insurance. This can lead to lower costs, more control over claims, and the ability to tailor coverage to suit specific risks. These captives are ideal for small and medium-sized businesses looking to access insurance options that are typically only available to larger companies. We help associations analyze their data and understand the feasibility of creating a captive to ensure it’s the right move for their members.
Single-Parent Captives
A single-parent captive, or pure captive, is owned by one company and insures only that company’s risks. This allows the company to act as its own insurer, providing financial backing while reaping the benefits of more control over its insurance program. Single-parent captives are increasingly being used for new revenue opportunities, such as offering insurance to third parties like joint ventures or customers. They’re also becoming an effective way to address growing risks like cyber liability, where traditional insurance may fall short.
Alternative risk solutions, like captives, should be considered when a feasibility study indicates potential savings on your total cost of risk. If self-insuring aspects of your coverage prove to be more cost-effective than relying on traditional insurance, it might be time to explore these solutions.