CORE PORTFOLIO
Our most conservative portfolio, and the basis for our solid financial foundation.
A crisis on the scale of the COVID-19 pandemic requires a response to match it. That’s why the Curi team swung into action as soon as the pandemic’s impact on physicians, practices, and patients became clear early in 2020. Functions from every part of the company joined in the effort, including Curi Insurance and Curi Capital.
More importantly, our COVID response gave us the opportunity to deliver fully on every aspect of our mission to help physicians in medicine, business, and life—delivering a full range of services, tools, and content to our members to help you make it through this emergency.
Because the financial impact of the pandemic was so immediate and so acute, it was essential for us to respond immediately and forcefully to our members’ needs. We suspended all medical professional liability premium invoicing from March through the end of June and gave practices a twelve-month period to pay their premiums back; offered the ability to suspend MPL coverage for practices needing to close temporarily; and offered leave of absence coverage of up to one year for any furloughed physicians and advance practice providers.
The uncertainty surrounding the pandemic and its impact meant that our member practices needed tools and resources to help keep their operations moving. Starting in March, we developed tools such as the Telehealth Guide, Back to Business Resource Guide, and COVID-19 Vaccine Resource Guide. We also made available a $100,000 pool of consulting time with two practice management experts, Medical Management Associates and Smith Anderson, to give our members dedicated support for their questions about practice management and employment law. Ultimately, our Risk Management team responded to 484 COVID-related outreaches across the year.
When our practices had questions about issues such as telehealth, billing, and leaves-of-absence, they called our Member Services team, which answered 632 COVID-related emails in 2020. Curi’s human resources member benefit provided by HR|Experts* also proved its value during a time of uncertainty about staffing, responding to 1,480 phone calls about COVID-related issues.
We launched our COVID-19 Practice Command Center shortly after the pandemic began—a dedicated landing page on Curi’s website offering resources, FAQs on a range of important topics, and news about the evolving crisis. The site was accessed 64,019 times across the year.
Daily at first, and on an as-needed basis after a few months, we sent out an email update to our members and other stakeholders with the latest news about COVID-19, including updates on Curi resources, federal legislation and regulation, and state-level activity.
The Curi team gathered a roster of external thought leaders and internal experts to deliver a series of webinars to help our members navigate the crisis. Topics included practice financial and retirement plan management, telehealth, risk management and professional liability, and human resources.
Even in a year as challenging as 2020, our strategy of prudently balancing risk and reward in investing your premium dollars helped our asset base grow by more than one hundred million dollars—shoring up our finances and maintaining our ability to serve you at the level you’re accustomed to.
Having a strong surplus puts us in a position to weather cyclical challenges in the markets we operate in, invest in the defense of our policyholders, develop new products and services, and expand the business in ways that help you run your practice as effectively as possible.
Thanks to our diligent underwriting and the strength of our investment strategy, Curi achieved positive cash flow yet again in 2020—allowing us to continue reinvesting in the company.
We invest the capital you entrust with us with a strategy of diversification and risk mitigation. We spread that risk across three categories:
Our most conservative portfolio, and the basis for our solid financial foundation.
We invest surplus funds more aggressively, aiming to fund innovation by bringing higher returns.
A percentage of our portfolio is reserved for investment in other operating companies. Our goal here is to both generate positive financial return, enhance our capabilities and competitive advantage, and bring new services and solutions to you.
Insurance
