For the past 25 years, ASI has found a bit of a niche working with insurance companies. We know insurance, we speak insurance, we understand insurance, and so we’re able to more easily jump in and help with all sides of keeping an insurance company’s IT systems running. We’ve been doing it for so long that we can safely tell you that every insurance company is a little unique. We know, all insurance companies can sometimes get lumped into one bucket, but different companies offer different plans, coverages, and special endorsements. However, we are lucky enough to work with a company that demonstrates this uniqueness profoundly; Nonprofits Insurance Alliance.
What Makes NonProfits So Unique?
Uh-huh, they already sound interesting – but just wait. Not only do they exclusively insure nonprofit companies (501(c)(3)s to be exact), but they ARE a 501(c)(3) nonprofit themselves. So for those of us not in the know, 501(c)(3)s include organizations such as Community Centers, Senior Programs, Counseling, Daycare, and Youth Programs, Homeless Services, Hospices, Foster Family Agencies, Group Homes, Drug and Alcohol Recovery, Animal Rescue, Environmental Programs, Residential Programs, Arts and Theatre Groups, I could go on and on.
As it turns out, insuring these types of organizations is a bit of a different animal. A lot of these companies are seen as too ‘high risk,’ and traditional insurance companies either won’t insure them or will charge them an arm and a leg for minimal coverage. Many nonprofit organizations operate on small budgets and don’t often have extra cash on hand to pay for unexpected premiums and rate increases. In fact, depending on their funding and cash flow from government grants and private donations, they sometimes need flexibility due to complex funding models. And while usually that would be cause for immediate termination from any other insurance company, not so much here! Nonprofits Insurance Alliance makes every effort to work with their insureds and provide payment plans before canceling a policy. In fact, to terminate a policy, underwriters are required to go to the CEO, Pamela Davis.
According to Ms. Davis, “Our goal is to keep nonprofits’ hard-earned dollars working for the benefit of the nonprofit sector and the communities they serve.” This 360-degree nonprofit experience expands to their extensive member services and dividend plan; NIA has returned $47M to its members.
Our Unique Partnership
This has all been a bit of a culture shift for our ASI members as well. When we started working with Nonprofits Insurance Alliance Group in 2017 to help support their software system, we weren’t quite sure what we were getting into. Over the past couple of years, ASI business analysts have assisted with requirements gathering, documentation and various quality assurance tasks. At the same time, ASI developers have been busy helping to process daily business activities, enhance existing functionality, and implement new features within the policy administration system. Despite our offices being over 2,000 miles apart, using regularly scheduled video conferences has allowed our teams to work together seamlessly, and we’ve both learned a lot along the way!
Sue Head, our NonProfits project manager here at ASI, sums it up perfectly: “Working with Nonprofits Insurance Alliance has given me a whole new perspective on insurance. Rather than the strict guidelines followed by most P&C insurance companies, it feels special to be part of a company that goes out of its way to provide affordable insurance to nonprofits. The business, the people, and the beliefs all play a part in making this a unique company.”
And that’s probably why we’re such a good fit with NonProfits, because we’re pretty unique ourselves. We love pitching in and helping our customers succeed. We like to think of ourselves as an extension of their team and believe building long-term relationships are beneficial for everyone.
We’re excited to see how this relationship continues to grow!
