Co-Founder | Insurance Portfolio Management | Employee Benefits Design | Insurance Risk Management
Current3rd party co-fiduciary services are not for everyone. Suppose Executives are comfortable with their current insurance process and results. In that case, it is probably not appropriate to collaborate with a 3rd party fiduciary like KBIC.Alternatively, suppose business leaders are burdened by their insurance process, frustrated by their current methods' time and cost investment, uneasy about the vagueness of their insurance results, or concerned about their ability to navigate the shifting insurance landscape objectively. In that case, a 3rd party co-fiduciary might be the right fit.Large organizations often have robust Human Resource (HR) and Finance teams. These teams frequently employ a "Director of Benefits" (i.e., ERISA Navigator) or a "Director of Risk Management" (i.e., Property and Casualty Navigator). These professionals represent their employer to the insurance industry while also managing internal insurance processes. KBIC provides these specialized HR & Finance functions on a fractional basis for employers who do not have this expertise internally. Since KBIC holds an HR/Finance function within our clients' organization, it is not appropriate for us to sell insurance products or share in any revenue with insurance service providers (e.g., brokers, consultants, advisors, insurers, PBM (s), tpa(s), etc.) who serve our clients. Every KBIC client has an insurance broker, advisor, or PEO with whom we collaborate and oversee. Our clients understand that they, The Company, play a vital role in their insurance risk management and cost control process. Our clients also understand the opportunity costs of focusing their talents on insurance endeavors and away from core competencies. Our clients utilize our objective focus on these internal insurance tasks so they can stay focused on their business.
