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# Captive Insurance
Zynergia’s Captive Insurance is advanced risk management, cost reduction and reward sharing for your business.
## Reduced Reliance on Commercial Insurance, Cost Reduction and Rewards for Good Performance
As a small to medium sized business, you may feel that you are subject to the onerous financial costs of insurance products while not having any control over the rising costs. At the same time, you are not able to take advantage of better than anticipated loss performance.
The price of insurance coverage purchased in the standard market typically includes a significant markup to pay for administration, sourcing costs, taxes/surcharges and overhead, as well as profit to the insurer. Many of these items can be managed very effectively and reduced significantly by our team.
Cost savings and increases can be significantly impacted by claim performance. We can help you manage your loss experience and allow you to both reduce your loss costs and benefit for good experience through our unique Risk Management opportunities.
## Stabilization of Pricing
By participating in our Risk Management program, we can help you to stabilize your loss experience from year to year, which then can yield stabilized costs accordingly. In contrast, the standard market often set prices in relation to broad industry classifications as well as loss experiences; thereby, failing to reflect excellent experience by individual insureds. The result is price volatility based on general market conditions and the actions of other insureds. In our Risk Management program, we have the ability to recognize and reward based upon loss experience for each client.
## Provision of Cover Where Otherwise Unavailable – Alternate Market
From time to time, the standard market is unwilling or unable to provide cover for certain risks, especially for liability and casualty loss within niche businesses. Our Risk Management program can assist in these situations by bringing to bear our resources as well as partners to develop alternative programs for your benefit.
## Improved Cash Flow Benefits
Small to medium sized business which have better than expected loss performance miss out substantially on potential investment income or opportunities sponsored by the lost capital if they are participating in programs that do not reward such performance. Our Risk Management program can offer various incentives and participation programs that can allow you to benefit from your good experience.
## Opportunities for Improved Claims Handling and Control
Our Risk Management program is designed to enhance and improve the outcomes of traditional TPA performance from the perspective of the insured. We will help you to establish claims monitoring, efficient processing and key metrics which will allow our team to pursue all opportunities to reduce claim costs by working closely with the carrier adjusting teams.
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“Where we live in Florida, we haven’t been able to get our usual brand of Publix coffee creamer for two…
# Staffing & The Trucking Industry
“Where we live in Florida, we haven’t been able to get our usual brand of Publix coffee creamer for two months. We were told there are no cartons to put it in!” It’s easy to forget the supply chain disaster involved in our daily lives until what we need is no longer available. There aren’t essentials because there are not enough truck drivers.
The Memphis Business Journal heralds the industry by pointing out, “Trucking is the only industry that directly ships to every community in America, rain or shine.” They are right to revere their transporters, considering the Tennessee trucking industry employs almost 1 out of every 13 people in the state. Despite that number there is still a nationwide shortage of almost 80,000 drivers,  the President of the National Trucking Association.
The industry took a hit in 2020, creating a dip that poised it to bounce back better than ever in 2021. Stocks  but industry veterans are retiring while the demand for truckers is on the rise. The demand for truckers spans more than job openings—the trade needs a human resources overhaul.
Yellow Trucking Company applauded the Biden Administration Trucking Plan on their  highlighting outdated barriers for entry. The plan also includes apprenticeships, where Yellow plugged their own as an option. “We’re working on getting future truckers’ job ready, but there is a lack of planning for qualified people once they start looking.”
If you are a driver, is your preference to be independent or part of a team? An independent position may look tempting until you begin searching for affordable healthcare options, paying self-employment tax rates, keeping up with local laws and regulations, and exploring your own retirement planning. The California Trucking association is struggling with  currently limiting independent contractors. If your goal is to make six figures, don’t look to the government for help, utilizing the Affordable Care Act for health insurance isn’t even an option.  As you source all of the healthcare coverage alternatives, it becomes evident you’re unlikely to beat the competitive rates of group insurance plans.
Zynergia HR is here to help. We offer flexible PEO and staffing model solutions that enable trucking and transportation businesses to better manage their variable workforce of full-time, temporary and independent contractors, giving them access to 401k plans, and affordable, national large group health insurance programs. We empower companies to attract and retain highly-qualified drivers and offer them the kind of benefits that truly motivate good employees to greatness.
Select services on our navigation bar to learn more about these solutions and others offering real opportunity for growth.
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# Author: Elle Stallings