Risk On Prior to 2020’s black swan (low probability/high impact) event of the COVID-19 outbreak and subsequent shutdown of the economy, your clients had the luxury of being in a position to care less about volatility and risk exposure and only about the end result....
The Everlong Difference (Part 3):
Use Positive Peer Pressure to Your Advantage
We’ve all heard that peer pressure is “bad” and although that’s arguably true, there is new research that indicates how positive peer pressure creates a social advantage. And within the field of behavioral economics, human behavior is explained as being shaped by certain influences like social pressure.
This intuitively makes sense, right? What if there was a better way to purchase group health insurance?
There is a better way. And it makes sense, too.
Within our high performance health insurance captives, there are no more than 50 members (employers) per cell. This means your client truly gets to know their fellow captive cell members over time and yes … feel a little positive peer pressure as their fellow captive members improve their plans and reduce their costs. This social dynamic is a powerful force elevating the performance of each cell.
What makes for an ideal captive member?
- 50 to 500 employees on the medical plan
- Fully insured or self-funded (and tired of it)
- Few decision makers
- Innovative decision makers
- Appetite for claim reduction initiatives
Members also network continuously throughout the year, providing each other with timely input on existing and potential claims reduction vendors and other invaluable insights. Each cell also determines the location and format of their Annual Member Meeting (most recently Park City, Utah).
Member cells are led and managed by a seasoned Everlong consultant that has incentive-based compensation tied to the financial performance of the cell.
For employers that are members of the Everlong Captive, they are able to reinvest the profits that health insurance carriers make back into their business.
Walter Payton of the Chicago Bears once said, “We are stronger together than we are alone.”
It’s with that same team spirit in mind, camaraderie, and positive peer pressure in practice that we embody within the Everlong Captive. Build in your advantage today. Become an Everlong Captive member.
The Everlong Difference (Part 4): Invest More in What Works, Divest from the Rest In today’s economy, the allocation of resources provides little margin for error. It’s no longer sufficient to invest in what’s working today, you must also be able leverage analytical...
The Everlong Difference (Part 3): Use Positive Peer Pressure to Your Advantage We’ve all heard that peer pressure is “bad” and although that’s arguably true, there is new research that indicates how positive peer pressure creates a social advantage. And within the...