Company’s 30% revenue growth driven by market shift to alternative health insurance models, operational excellence, and new customer acquisition and retention
LAKEWOOD, Ohio, December 14, 2021 — Roundstone, a health insurance provider specializing in self-funded medical group captive solutions, today announced record-breaking business results from 2021. The company attributes its success to aligned leadership and operational excellence, high-performing group captives that return unspent premiums back to participants, and proactive cost containment solutions.
Roundstone’s success means financial success for its customers. The company distributed $20+ million in unspent premium to participants in its group captive pools. In a fully insured model, that money would have been pocketed by the insurance company.
“As we head into 2022, Roundstone is experiencing record momentum,” said Mike Schroeder, President of Roundstone. “Heightened interest is driving demand as insurance advisors and employers seek better alternatives to fully insured plans. Businesses are ready to make the shift to self-funding so they can afford to offer robust health and well-being benefits that attract top talent.”
Roundstone’s key accomplishments include:
Revenue and Customer Growth:
- Achieved 30% growth in revenues and added 200+ new customers, the best year in its 18-year history.
Employee Growth, Culture, Leadership:
- Added 41 employees, increasing employee count to 115.
- A new Chief Operating Officer and Director of Marketing round out an executive leadership team aligned around a core mission of better healthcare for all.
- Moved to a hybrid work environment committed to its Cleveland roots, Lakewood headquarters, and collaborative culture.
- 20% average annual employer savings compared to fully-insured.
- 9.2% average distribution to captive participants.
- $20M+ unspent captive premium distributed pro rata in 2021.
- 6% amount below expected costs for groups in 2021.
- Named one of the fastest-growing private companies in America by Inc. 5000 for the fourth consecutive year.
- Launched Roundstone University, a self-learning platform dedicated to educating benefits advisors.
- Held annual Medical Captive Forum, a virtual event on May 19 dedicated to educating employers and advisors that drew 800+ registrations.
Small to mid-sized employers across many industries are currently enrolled in Roundstone’s group medical captives. For more information, please visit: https://roundstoneinsurance.com
About Roundstone Insurance
Roundstone is an innovative insurance organization founded in 2003 with a vision of giving small and mid-sized businesses a proven strategy for affordable employee health insurance – our customers pay only for the healthcare they use while keeping the savings. Our unique self-funded group captive solution delivers high-quality care, mitigates risk, reduces claims volatility, controls costs, and returns savings right back to employers and employees– a win-win all around. Hundreds of businesses rely on Roundstone as their trusted health insurance provider, saving an average 20 percent annually over the past decade. Roundstone is headquartered in Lakewood, Ohio with representatives throughout the United States. Stay connected with us on our blog, LinkedIn, and Twitter.