September 09, 2012

We Think Like Non-Profits

One of ProSight’s key areas of focus is offering not-for-profit organizations the best possible workers’ compensation coverage to meet their needs. In partnership with Tangram Insurance Services, we provide unparalleled service and expertise to hundreds of charitable organizations around the country. And it all comes down to one thing: we get non-profits because we think like non-profits.

Nicole Davis, a Senior Program Underwriter at Tangram, says that, “We cover a lot of organizations that are considered to be ‘high-risk’ by many other insurers, including food banks, group homes and facilities that provide services to at-risk youth or children who have medical needs. Many insurers simply won’t touch these kinds of policies because they are deemed to be too problematic or complex due to exposures such as liability and safety issues. But because this is our niche, we are able to provide coverage to groups that most providers don’t want to work with.”

One of the major issues that not-for-profits often face is the “double jeopardy” of high insurance premiums and a lack of funding. This is a major reason why many insurers stay away from all but the largest 501(c)(3) organizations. But where others see this as a disincentive to work with charitable groups, we see it as the perfect fit – and it all comes back to the fact that we have a deep understanding of the specific issues that non-profits face – and how to resolve them.

One of the key advantages of working with ProSight/Tangram is that many of our team members come from the non-profit world and therefore know how to deal with the challenges that many of our policyholders face on a regular basis. As an example, Tangram’s Davis worked for two not-for profit housing organizations in the Bay Area before getting into the insurance field, which gives her a great perspective as she works with her clients.

“I really understand the pain points that many organizations feel because I come from that world,” she says. “We know how they operate, how they raise money and staff their operations which is different than for-profit companies. As an example, most non-profits are staffed by a mix of full-time, part-time and contract workers, as well as volunteers. That can be challenging for other insurers, but it is part of our DNA. We get it, which is why we can be so flexible.”

So far, this expertise is paying off for not-for-profit organizations throughout the United States. We insure less complex non-profits as well as more challenging ones. Whether it be a museum, school, group home for youth or housing assistance program, we are proud to welcome these and other groups into our portfolio every day.