OUR SOLUTION
Every business has risk.
Few know how to utilize that risk to create a competitive advantage.
Captives are the innovators of the insurance industry. We partner with top minds to find the best solution to fit your needs.
Group Captives
“There is not a cheaper way to buy middle-market insurance,” says Kathryn Westover, author of Captives and the Management of Risk. Group captives are the perfect multifaceted solution for middle-market businesses to reduce their insurance costs. Key coverages like workers compensation, general liability, and commercial auto insurance are built into a group of like-minded, high-caliber businesses to reduce claims and insurance expenses.
Single Parent Captives
Innovation and design: these bespoke programs are built to universally strengthen a business’ insurance and risk management program.
What insurable risks does the company have? How are those risks funded? Is there a better, less expensive way to fund for those risks?
What would we do differently if we have our own insurance company? What new revenue opportunities would that create? These programs address critical questions to drive value and return.
Captive Education
The most critical component of a successful captive program is the knowledge of its stakeholders. We provide multiple educational offerings including:
- Group Captives
- The Stepping Stones of Success
- Captive Fundamentals for Risk Managers
- Captive Masterclass for Brokers
Please contact us below for more information on our learning calendar.
Insurance Innovation
Business changes every day, which means we are always adapting and looking for new ways to help you achieve your goals.
Take cyber insurance, which was first introduced by the captive industry in the early 2000s. Today it’s one of the most popular insurance coverages. What’s the next cyber coverage? Are there new ways to utilize captives to generate new revenue for your organization.
We believe in a creative think-tank approach to finding solutions others are not willing to pursue and executing the results.
Viability
Before the investment is made for a full feasibility study, we’ve found the process is most successful when we first determine, “Is a captive option viable for your company?”, “Financially, does the captive pencil?”, “What is the ultimate vision and mission?”, and “Is the business ready to bet on themselves?”
Feasibility
Now that the vision has been determined, we organize the partners and resources to make the vision a reality. We build a communication plan with all stakeholders to make sure every angle of operations is heard and built into the project plan. We partner with the best captive partners in the business for the best advice money can buy.
Start-Up
The final phase, where the captive operation commences. This includes working through various regulatory and banking transactions. It also include the much needed implementation with the internal stakeholders to guide action into results so the vision of the captive is in fullfilled.
Here are some successful applications we’ve completed over the years
Group Captive Viability:
We implemented a group captive viability study for a broker who was looking to find the best group captive option to meet their clients’ needs and culture.
5-Year Look Back:
To determine if a group captive made financial sense, we completed a 5-Year Look Back to answer the question, “How would our results have fared if we joined a group captive five years ago?”
Market Inefficiency:
A large hospital with strong controls and processes couldn’t get control of annual medical malpractice increases. The single parent captive allowed them to work directly with reinsurers and take on more risk, potentially saving up to 50% on an annual basis.
Employee Benefits:
The past decade has been hard for the health insurance market. One company was frustrated with annual increases, so we helped the broker place their client into a group captive. They immediately saw the returns of buying power and resources.
Innovating on a Thousand-Year-Old Dilemma:
The solution we were proud to create for this client has reduced annual expenses for specific coverage by 60%. Unfortunately, we must keep the solution vague to protect our intellectual capital.