DENVER — Würk, a leading human capital management (HCM) company in the cannabis industry, launched a first-of-its-kind insurance collaboration with The Baldwin Group (formerly AHT Insurance) that will reshape legal cannabis companies’ approach to evaluating health benefits. Leveraging their expertise in human capital management, insurance, and risk management, Würk and The Baldwin Group will introduce clients to Employee Benefit Captives, Predictive Risk Scoring and forward-looking claim projections that will help them gain an acute understanding of their particular health insurance premiums and identify potential cost-saving alternatives.
Würk enables clients to manage the cannabis industry’s rapid growth effectively by providing leading HCM tools and solutions to normalize the cannabis economy. The Baldwin Group deploys Artificial Intelligence driven underwriting to provide clients with 12-month Forward Looking Claim Projections and Predictive Risk Scores, which highlights the cost drivers of particular health insurance premiums. Both tools help provide a pro-forma financial analysis that will help determine if a client is best suited for an Employee Benefit Captive, a specialized benefit arrangement where multiple employers pool their resources to form a captive insurance plan.
The Employee Benefit Captive, an innovative alternative to the traditional insurance plan, empowers employers to take control of their insurance costs while maintaining top-tier benefits for their valued team members. Premiums, set by an underwriting team at the captive manager and paid to the captive by each employer, create a stable risk pool. Each captive is underwritten to a client’s specific risk profile, offering more flexibility and long-term stability than traditional plans.
“It is often said that knowledge is power and, with that in mind, we are proud to collaborate with Würk to equip cannabis companies with the information needed to make the best decision possible when choosing an insurance plan,” said Steven Uno, Senior Partner at The Baldwin Group. “Combining our knowledge of human capital management, insurance, and risk management, we can introduce a new approach to insurance that will allow Würk’s clients to be more flexible and potentially save money that can be used to enhance a company’s product portfolio, cultivation efforts, manufacturing efforts and much more.”
“The Baldwin Group is the ideal firm to bring our newest human capital management solution to market,” said Deborah Saneman, CEO of Würk. “Expanding our suite of human resource solutions, our Employee Benefit Captive program, along with our ability to offer Predictive Risk Scores and 12-month Forward-Looking Claim Projections, amplifies our commitment to supplying cannabis operators with industry-specific workplace solutions and reemphasizes our position as the legal cannabis industry’s premier human capital management solutions provider.”
Würk is an all-inclusive destination for cannabis operators seeking simple and intuitive workforce management solutions focused on usability and people. In collaboration with The Baldwin Group, Würk is the first human capital management partner specializing in cannabis to offer Employee Benefit Captives, Predictive Risk Scores, and 12-month Forward-Looking Claim Projections. The Company’s unparalleled commitment to the cannabis industry equips clients with industry-specific solutions, rather than one-size-fits-all alternatives.
About Würk
Würk allows cannabis companies to manage payroll, human resources, timekeeping, scheduling and tax compliance, and minimizes compliance risks in the ever-changing cannabis regulatory environment. The company uses its expertise and trusted partnerships to provide guidance on 280E tax law, accounting and compliant banking. Its platform is designed to scale nationally with the growth of the industry, while incorporating the local laws and regulations unique to individual states.
ABOUT THE BALDWIN GROUP
The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BWIN) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a team of dedicated entrepreneurs and insurance professionals, we have come together to help protect the possible for our clients. We do this by delivering bespoke client solutions, services, and innovation through our comprehensive and tailored approach to risk management, insurance, and employee benefits. We support our clients, colleagues, insurance company partners, and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. The Baldwin Group proudly represents more than two million clients across the United States and internationally.
