CAMDEN, NJ (June 5, 2023) – Conner Strong & Buckelew, a leading insurance brokerage and employee benefits consulting firm, today launched CREO, its new employee benefits captive solution. CREO is Powered by ParetoHealth, CSB’s longtime captive partner. CREO will help businesses gain better health coverage for their employees and better control over costs.
“Now more than ever, businesses are realizing the power of breaking free from the fully insured model and adopting innovative new solutions,” said Joe DiBella, Executive Partner, National Employee Benefits Practice Leader at Conner Strong & Buckelew. “Our partnership with ParetoHealth offers the dual advantages of reducing costs while capping risks over multiple years, providing members with the best of both worlds. We’re thrilled with the growth of our employee benefits captives business thus far, and launching CREO will help us extend these solutions to more clients in need of a better way to offer health benefits to their employees.”
In addition to the significant short- and long-term cost savings, CREO offers Conner Strong & Buckelew’s clients limited volatility from large claims and high-cost years, enhanced control of their spending through data transparency and access to larger data pools and risk management expertise.
“Innovative solutions like stop loss captives that disrupt the status quo are pushing the employee benefits industry forward,” said Colleen Davenport, Senior Partner, Captive Business and Creative Solutions Leader at Conner Strong & Buckelew. “ParetoHealth’s industry-leading benefits captive program with integrated cost management makes them the perfect partner for us, and we’re fortunate to work alongside another firm that shares our dedication to lowering overall healthcare costs for organizations across the U.S.”
Over the past several years, Conner Strong & Buckelew has grown its benefits captive client base to over 40 organizations. Between 2016 to 2021, Conner Strong & Buckelew’s clients enrolled in its stop loss captive saved $2.7 million per year on average versus being fully insured. Looking forward, this captive is expected to perform 33% below the fully insured market from 2021 to 2025, leading to millions of dollars in additional savings for the captive’s members.
“Conner Strong & Buckelew’s commitment to the captive space and its clients is truly commendable. We love being on the right side of the fight with partners like them.” said ParetoHealth CEO Andrew Cavenagh. “Our mission at ParetoHealth is to help small and midsized business self-insure with less risk and then decrease healthcare costs. We’re proud to partner with Conner Strong & Buckelew on CREO and look forward to bringing its benefits to more organizations to further advance the state of employee benefits.”
About Conner Strong & Buckelew
Conner Strong & Buckelew is among America’s largest insurance, risk management and employee benefits brokerage and consulting firms. The firm is an industry leader in providing high-risk businesses with comprehensive solutions to prevent losses, manage claims, and drive bottom line growth. Its employee benefits practice focuses on providing best-in-class benefits administration, health and wellness programs and strategic advisory services.
Founded in 1959 with offices in New York, New Jersey, Pennsylvania, Massachusetts, Delaware, Florida, and Georgia, Conner Strong & Buckelew has a team of more than 450 professionals, serving clients throughout the United States and abroad. For more information, visit www.connerstrong.com or follow us on LinkedIn (@ConnerStrong&Buckelew), Twitter (@connerstrong), Facebook (@connerstrongbuckelew) and Instagram (@connerstrongbuckelew).
