The Mahoney Group

Weekend read: To borrow from the late, great psychologist Daniel Kahneman, this required some System 2-level thinking on our parts. In other words, we did the heavy lifting for you. Ready? Before the rise of digital technology and big data, health care decisions were often based on limited information and generalized guidelines. Today, the depth and breadth of member data available – medical claims, pharmacy claims, disability claims, workers’ compensation claims – has revolutionized the health care sector. From predictive analytics that can pre-emptively identify members with high health risk to real-time data that informs instant decisions, the possibilities are vast and truly transformative. By leveraging data analytics, health plans can enhance their operational efficiency, offer better value to members, and ensure long-term sustainability in the rapidly changing healthcare landscape. Click below to read how we've applied our data-driven approach to optimize health benefits for diverse organizations ... and let us know if this is the level of innovation, attention and, dare we say it, thinking you're now getting from your employee benefits broker. #dataanalytics #employeebenefits #healthcaredata

Look for these two characters, our very own Connor Toolson and Cameron Allem, at next Thursday's Arizona Multihousing Association trade show at the Phoenix Convention Center & Venues. The AMA's calling it the "Great Game Show Trade Show." Our game? "Are You Smarter than an Underwriter?" We'll be at Booth #336. Stop by to play! We're giving away $2 bills for those who can answer the questions correctly! #AZMultihousing #AMATradeShow #multifamily #realestateinsurance #riskmanagement #insurancebroker

1. Full control over your company healthcare budget. 2. Improved cash flow. 3. Lower taxes. 4. Reduced insurance costs. There are more but those are four good reasons to consider moving into a self-funded health care plan for your employees. Our guide lays it all out. Making the switch really isn't that complicated at all, and the savings can be significant. #selffunded #employeebenefits #healthinsurance

Verisk, a data analytics company that works with the insurance industry, just dropped its 2024 Global Modeled Catastrophe Losses Report and the numbers are jaw-dropping. According to its figures, the average annual loss (AAL) from global natural catastrophes has hit $151 billion. That's about $40 billion higher than the average we've seen in AAL over the past five years. This dramatic spike in AAL is driven by factors such as rapid urban expansion, inflation, and of course, the growing impact of climate change. In its report, Verisk said insurers need to be prepared for years with even higher losses, especially with climate change adding more extreme weather events into the mix. What it doesn't say is that businesses should be prepared, too. So, what should you do? Start by finding a broker who a) understands your business almost as well as you do and b) can help you through it all as a true partner rather than someone just trying to sell you a policy. At The Mahoney Group, we advocate for your best interests, helping you navigate complex coverage options, negotiate better terms, and proactively manage risks. Or, as we like to say, giving you the confidence to face whatever lies ahead.

Open enrollment season is coming up! How are you handling it this year? We've found that an active enrollment process is slightly more common than a passive process (see pie chart). Both have pros and cons, and each employer’s strategies will vary based on their demographics, benefits goals, capacity of the HR team, and more. Active enrollment ensures employees are aware of changes or new offerings and make conscious choices about their coverage each year. Passive enrollment is more convenient for employees but can lead to complacency and lower awareness of benefit options. Earlier this year, our partners at Assurex Global asked employers about their opportunities to improve their annual enrollment. The No. 1 response was “increase education of the benefit program” followed by “change how we communicate the program.” Annual enrollment is a critical time to educate your employees about your benefits programs, of course, and so you need to be strategic to maximize this opportunity. Our second chart shows that most employers prefer communicating changes more than three weeks before annual enrollment. That allows employees more time to understand and evaluate their options. On the other hand, it can also lead to information overload and a longer period of uncertainty. Waiting until enrollment opens ensures the information is fresh in peoples' minds but may rush them into making decisions without ample consideration. Either way, clear communication of your benefit offerings is critical and preferably occurs across multiple channels. Have questions regarding any of this information or want to discuss your enrollment practices? Reach out to us. #openenrollment #groupbenefits #employeebenefits #healthinsurance #benefitsbrokerage

Artificial intelligence is transforming industries and streamlining processes at a dizzying pace. There’s a lot we don’t understand about AI, including the risks and exposures inherent in incorporating AI into our businesses and lives. In this video, we look at the potential risks and exposures associated with AI, and a rundown of the essential lines of insurance coverage needed to protect against AI-related claims. #artificialintelligence #airisks #riskmanagement #insurance

On this Labor Day, let's take a moment to recognize that, every day, people are adapting, pushing through challenges, and finding new ways to make things happen. It's not just about hard work; it's about resilience and creativity in the face of change. So, whether you’re kicking back or catching up on life, enjoy the break. We've all definitely earned it. #LaborDay #Workforce

OSHA's enforcers are out in force, and they've got tribal-owned casinos very much in their sights. What will they look for? What kind of infractions might catch their eye? And how can you best prepare and avoid getting written up? We'll cover these questions and more at our Sept. 4 webinar. Register here: https://bit.ly/46Wm99y #tribalcasinos #riskmanagement #insurance #OSHA

Overall commercial insurance rates seem to be rising more slowly at the moment, but there are a number of risk management strategies you can employ to help your premiums go up even less year after year. We offer a few tips in this quick video:

You know what's better than attending the Arizona Association of Community Managers (AACM) annual trade show? Showing up and winning a gorgeous YETI cooler, as Community Manager Linda Huggins with City Property Management Company did at our booth! Doing the heavy lifting for our team: Insurance Advisors Mitchell Brown and Cameron Allem. This year's theme was streaming TV shows, so we went with "Perfect Match" and gave away $2 bills to 100 attendees who played our "HOA Underwriter" version. (Are we insurance geeks? Yes, we are!) Anyway, definitely good times and thanks to all who stopped by to say hello. See you next year!! Randa Hightower David Cummard