Adam Perea, the VP of Elite Risk Insurance, discusses alternative risk options for small and midsize businesses. Alternative risk provides businesses with additional ways to manage their insurance and risk management programs beyond traditional carriers, offering more options and opportunities. The assessment of a business's needs involves in-depth discussions and data collection to identify pain points, goals, and objectives. The podcast also covers the significance of captive insurance and blended solutions, which allow businesses to have more control over their risk and potentially lower their overall cost of risk.