Insurer moves to be close to Vinik-Cascade’s $2B real estate development

July 12, 2016

Margie Manning | Tampa Bay Business Journal

BeniComp Insurance Co. has relocated its corporate headquarters to Tampa.

The company, which provides supplemental group health insurance products, brought nine members of its executive team to offices at 501 E. Kennedy Blvd., and hopes to add at least three more full-time employees in the next year, according to a press release from the Tampa Hillsborough Economic Development Corp.
BeniComp has another 40 employees in Fort Wayne, Indiana, its former headquarters.

Proximity to the $2 billion real estate development planned by Strategic Property Partners, the company formed by Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC, was one reason for the move, said Doug Short, president and CEO of BeniComp, in the release. SPP has partnered with New York-based Delos to certify the wellness of its buildings and the neighborhood.

Being close to “the world’s first health and wellness-focused city district,” along with access to Tampa International Airport and partnerships with large Florida-based insurers were cited by Short as among the factors making Tampa a “perfect” location for the firm.

The company did not receive financial incentives to relocate, according to a spokeswoman for the EDC, but the agency helped it connect to CareerSource Tampa Bay for future hiring and training requirements.

BeniComp offers national employee wellness solutions, through a patent-pending product that uses monetary incentives to get workers to take part in and actively engage with wellness plans. In a blog on its website, the company says only about one in four workers currently takes part in corporate wellness programs, but that its product, BeniComp Advantage — when executed well — can increase that to over 95 percent participation and decreased health claims.