A Knightbrook Health Insurance Company Review leads to Knightbrook Insurance Company, which is a subsidiary of Knight Insurance Group. Based out of Valley View, Pennsylvania, the company was developed three years ago by the merger of Northwestern Insurance and Excess Reinsurance Company to assist struggling insurance companies. They do not sell health insurance.
Knightbrook Insurance Company does not sell insurance directly, instead they management insurance companies and affiliates and provide ways for those entities to increase their client bases and meet state standards. They are an insurance management company.
Knightbrook Insurance Company Philosophy
As stated above, Knightbrook Insurance was developed from the merger of two insurance companies. Instead of continuing to sell policies directly to companies, Knightbrook took on the task of helping struggling insurance companies to become strong by managing their accounts for them. To further specialize within the insurance industry, the company chose to focus specifically on high-risk niche markets.
Niche insurance markets are insurance companies that provide policies for hard to insurance industries. The risk is usually due to the danger involved in that particular industry either because of the products used, the machinery operated, the physical danger employees are placing themselves in, or the risk of litigation involved.
Some examples of high-risk insurance industries are:
- Chemical manufacturers
- Computer software designers
- Construction companies
- Fitness machine manufacturers
- Baby furniture manufacturers
- Hazardous waste disposal
- Nursing homes
- Long haul trucking companies
- Restaurants, bars
- Roofing companies
- Church organizations
Knightbrook Insurance Services
In following with the philosophy of Knightbrook, the company provides services for high-risk insurers so they can meet the needs of their clients. Knightbrook will do both quantitative and qualitative reviews of the companies that their clients want to insure to make sure that the evaluated risk is a true picture of the risk that is involved.
They also do develop program structures so that the insurance needs of the high risk companies can be met by the insurance carrier within the budget available. Part of this process is the development of forms that rate the risk of the company. Knightbrook does all the paperwork involved making sure it is in compliance with legal and industry standards.
Knightbrook Insurance also undertakes the state filing required to be in compliance with insurance laws. This filing is different for each high-risk business and in each state. By taking this away from their clients, Knightbrook saves their clients time and footwork that would otherwise have them turning away some high-risk clients.
Knightbrook will also take over the accounting and IT aspect of managing the claims, policies, and concerns of the insured, if the client wishes. This allows their insurance carrier clients to focus time and effort on marketing and expanding the insurance options they can offer to their clients and saves them from having to hire personnel to run this aspect of their company.
At the end of the initial set up, Knightbrook will complete a performance and results analysis of the whole process. This helps them to evaluate their connection with the company they are assisting and helps the company to see just how Knightbrook has saved them time and money. Ongoing performance analysis continues throughout the life of the working relationship between Knightbrook and the client.
Knightbrook Insurance Careers
Careers at Knightbrook are not taken lightly. Since the company is working with high risk insurance companies and dealing with a large amount of policies, laws, underwriting, and capital, they only hire the most experienced and qualified individuals to serve as agents and management.
Some insurance companies will hire those who are just staring out in the industry and train them as part of the hiring agreement. Knightbrook does not do this. Individuals interested in working at Knightbrook Insurance must already have insurance experience, training, and education, preferably in the high-risk industry category of insurance.
Though Knightbrook does give employees continuing education and training opportunities regularly, this is in addition to the training and education employees already have. The benefit package at Knightbrook is quite impressive sometimes drawing individuals who are not qualified. They scene potential employees very well and only hire the best.