News and Analysis Archives - Risk Cooperative

Six Cost-Saving Strategies to Address Medical Inflation standard

As employers grapple with the impact of medical inflation to their benefits budget, brokers can provide critical assistance. Risk Cooperative helps organizations navigate the complex world of health insurance and employee benefits. Learn More For more than a year, inflation has been the subject of concern nationwide. But medical inflation, described as the increasing cost of medical services over a period of time, is outpacing general inflation at nearly every turn. However, because premiums are contracted a year in advance, the impact of general economic conditions on medical costs often lag by six to twelve months. Due to the uptick in medical costs, employers, insurance companies and brokers alike are strategizing how to minimize the impact healthcare renewals are directly ...

RC Quick Takes – 7 Signs Its Time to Leave Your Benefits Broker standard

Recognizing when it’s time to move on from your current benefits broker is essential for continued growth and success. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights In the ever-changing world of business, making informed decisions surrounding strategic partnerships is essential for success. This extends to the relationship between employers and their benefits brokers. While benefits brokers play an integral role in managing employee benefits and ensuring compliance, there may come a time when businesses should consider transition to a new broker. Below are seven common signs that indicate it may be time to leave your current benefits broker and seek a partnership that aligns better with your ...

RC Quick Takes – The Emergence of Direct Primary Care standard

With the potential to significantly reduce healthcare costs while providing a more individualized care, DPC is rising in popularity among patients and employers. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights A new approach to healthcare delivery has been gaining traction and transforming the traditional doctor-patient relationship. Doctors and patients alike are often deeply dissatisfied with the limitations and expense of traditional healthcare. Direct Primary Care (DPC) is a model that aims to provide accessible, personalized, and cost-effective medical services. This innovative healthcare method is an alternative to the conventional fee-for-service model, leading to a more patient-centered and sustainable approach to delivering care. What is Direct Primary Care? ...

RC Quick Takes – Reshaping Mental Health Care standard

The Biden Administration’s mental health strategy holds the potential to usher in a new era of mental health care in the U.S. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights In a concerted effort to address the pressing issues surrounding mental health care in the U.S., the Biden Administration has unveiled a comprehensive proposal aimed at overhauling the nation’s approach to mental health treatment and support. Central to this proposal is the recognition of mental health as an integral component of overall well-being in a post-pandemic world. As the administration’s plan gains momentum, it is crucial to explore how these proposed changes could reshape the landscape of health ...

In Summary – Claims Teams Should Partner with Legal to Get Ahead of Ballooning Costs standard

Current legal trends cast a shadow over claims management, but partnership between claims and legal could be the necessary light in the darkness. Below is a summary. Additional details are outlined in the full article, written and published by Risk & Insurance. Read Full Article While legal and claim have traditionally been kept separate, bringing legal into the conversation well before a claim has the chance to be litigated is just good risk management, especially when some of today’s biggest legal trends are driving up claim costs. Key Takeaways: Internal Coordination | “Most organizations are not having their legal team fully review insurance policies,” said Andres Franzetti, cofounder and CEO, Risk Cooperative, which can lead to problems if there is ...

In Summary – Andres Franzetti, CEO, Details What Makes Risk Cooperative Differ from the Rest standard

Andres Franzetti, CEO and Cofounder of Risk Cooperative, shares where he thinks the risk management industry could grow and how the pandemic fostered resiliency. Below is a summary. Additional details are outlined in the full article, written and published by Risk & Insurance. Read Full Article “One of my key accomplishments, certainly, is Risk Cooperative and the terrific team that makes it work. I’m very proud of the highly diverse team we’ve built and that we have been able to hold true to our founding principles,” says Andres Franzetti. Interview Highlights: On Changes in Risk Management | “I think this is the biggest change in our industry as the risk landscape continues to grow more complex and interconnected. Companies are ...

In Summary – Looking to Attract and Retain Talent? Here’s How Your Benefits Package Can Set You Apart standard

The benefits package an employer can now provide an employee goes well beyond what was once the status quo. Below is a summary. Additional details are outlined in the full article, written and published by Risk & Insurance. Read Full Article “It’s becoming increasingly evident that a one-size-fits-all approach to benefits is no longer sustainable,” Wong said. “As organizations hire more employees from various backgrounds, cultures, and age groups, it’s important to recognize that a comprehensive benefits package needs to be as adaptable and diverse as the makeup of its employee staff members.” Interview Highlights: Recruitment & Retention | Replacing employees includes more than just hiring costs, but also lost productivity and increased potential for accidents. To meet top priorities ...

Rising Star, 2023 Power Broker Derrick Wong standard

First a 2023 Employee Benefits Power Broker award winner, and now named a Risk & Insurance Rising Star, Derrick Wong embodies Risk Cooperative’s commitment to serving clients with all-around excellence. When Derrick Wong joined the team, one of the cofounders told him, “This isn’t just a brokerage firm; this is a movement.” The firm’s emphasis on collaboration catalyzed his decision to accept the position 2019. “Developing unique and innovative ways to help companies manage their benefit offerings is a creative process that I genuinely appreciate,” said Derrick Wong. Being part of a team of thought-leading individuals is what maximizes his ability to create efficient risk management solutions tailored to his clients’ needs. Read more about the 2023 class of Risk & Insurance Rising ...

In Summary – Workplace Emergency Savings: The Must-Have Benefit for 2023 standard

Employers need to support the resiliency of their workforce amid ominous economic conditions in 2023. Below is a summary. Additional details are outlined in the full article, written and published by Risk & Insurance. Read Full Article In the current inflationary environment and weakening labor market, the purse strings of Americans continue to tighten. Already, more than 40% of households are unable to handle a $400 emergency. How can organizations help their workers withstand the economic challenges ahead? Key takeaways: Supporting Employees via Emergency Savings | Offering access to an emergency savings platform offers workers a wholly-owned savings account directly connected to payroll. Employees can designate regular contributions and employers are able to provide economic incentives for participation that encourages ...

In Summary – Employer Help Can Ensure Healthier Truckers, Safer Roads standard

The vast majority of truck drivers work long hours that can put their health — and the safety of others on the road — at risk. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article Long-haul truckers face extreme health risks due to their lifestyle, but there are things that can help. Healthier truckers mean fewer claims and safer roads for everyone. One solution is for trucking companies to coordinate with insurance carriers to provide wellness benefits tailored to truckers’ unique needs. Key takeaways: Most drivers are paid only when driving. | Loading, unloading, inspections and other tasks are necessary parts of a truckers job – however, most drivers ...

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