ComPro – Health Insurance Simplified
Compensation Programs, Inc. (ComPro) (www.comproins.com) is an insurance agency that specializes in offering health insurance products for employers and individuals/families. ComPro has distinguished itself in the Lincoln market by providing professional, experienced service with integrity and a strong commitment to excellence.
How long have you been in Lincoln?
For 31 years and proud to be still going strong!
Who are the owners/important executives?
Owners Brian and Chris McPike, who serve as President and Vice President of the company respectively.
What do you think makes you different from other companies similar to yours?
1. We specialize in health insurance. That means we stay up to date on health insurance laws and industry changes.
2. We are focused on finding solutions for our clients. We can’t control the escalation in health insurance premiums, but we can help clients evaluate their options and find the most cost-effective solutions.
3. Brian and Chris are leaders in the industry. Both serve in the National Association of Health Underwriters for Nebraska on state and regional levels.
What do you like about doing business in Lincoln?
It’s the quality of the people and the businesses they represent. Employers want to take care of their employees by providing a good benefits package. We have a strong economy and a great education system.
What kind of community organizations/groups are you involved with?
As far as business organizations, the Lincoln Independent Business Association (LIBA) and the Better Business Bureau (BBB). Outside of that, the McPikes are active in their church and lead mission trips to Mexico 2-3 times a year.
What changes have you seen in the industry and your company in the past few years?
With healthcare reform, the changes have been huge. Since 2014, the small group and individual health insurance markets have been governed by the Affordable Care Act. Premiums have risen dramatically and insurance companies have come and gone from the state of Nebraska. It’s a volatile market that continues to be subject to change based on governmental or economic factors. Nebraska will have only one insurance company offering coverage in the individual market in 2018. There were four companies in 2016. Insurance agencies that operate in the health insurance market always have to be ready for change.
What was the biggest turning point in your business?
In 2010, we were trying to figure out how to survive/retool/make it after the ACA bill was passed. Our primary market then and still is small group health. Many agents were moving away from the small group health business due to the changes imposed by the ACA. Change is difficult but always presents opportunities for those who master it. We decided to go for it by mastering the ACA and helping clients make the transition. It was a great decision for ComPro.
What is one of the biggest challenges that your company has faced?
Learning how to adapt and adjust to frequent changes in the health insurance market.
What has been your most important achievement as a business?
Taking care of our clients and having a retention rate of 98% for our group clients.
What do you see happening with the business in the next five years?
It really depends on what congress does with health care and what insurance companies continue to do business in Nebraska. Bernie Sanders recently introduced a “Medicare for all” bill that would change the fundamental free market in which health insurance companies have traditionally done business. This type of a bill was considered impossible just a few years ago, but now it will be interesting to see if it gains substantial support because of the failure of the traditional markets under the Affordable Care Act.