Group Captives Videos

  • Group Captives Prompt Members To Manage Their Own Risk

     
    Captive Operation and Services | Group Captives | Michael O’Neill | CEO & President | ACIG

    Being part of a group captive insurance company influences members toward better risk management of fleets and sites and benchmarking of risk management and networking with other members of the group captive insurance company to discuss and manage common risk exposures, says Michael J. O’Neill of ACIG in this video.



  • Onboarding Process Critical When New Member Joins Group Captive

     
    Captive Operation and Services | Group Captives | Michael O’Neill | CEO & President | ACIG

    Michael J. O’Neill of ACIG explains the importance of having a process in place to bring new members of a group captive insurance company up to speed on what their membership will mean for their own company and how it will affect their operations. Communication channels between the group captive insurance company and its members should be firmly established early in the new relationship.



  • Tips for Group Captive Success

     
    Captive Operation and Services | Group Captives | Michael O’Neill | CEO & President | ACIG

    An important thing to keep in mind in order to successfully run a group captive insurance company, according to Michael J. O’Neill of ACIG, is that its members need to be effectively handling their safety, quality, and document retention programs. Strategies toward achieving these goals include networking committees, benchmarking, and competitive ranking within the group so that each member is striving not only for its own retention goals but for the group’s goals as well.



  • Three Critical Success Factors for Group Captives

     
    Group Captives | Michael O’Neill | CEO & President | ACIG |

    Michael J. O’Neill of ACIG names three critical factors needed for a group captive insurance company to succeed: a clear and concise mission statement about the entity’s purpose, a well-defined corporate governance policy concerning day-to-day operations and strategic goals, and transparency in terms of the investments that each member must buy into when becoming an insured.



  • Mission Statements Critical for Group Captive Success

     
    Group Captives | Michael O’Neill | CEO & President | ACIG 

    As mentioned in the video "Three Critical Success Factors for Group Captives," Michael J. O'Neill of ACIG elaborates on how the mission statement of a captive insurance company is vital to its success and is particularly effective when couched in terms of cost of risk instead of insurance concepts that may be foreign to the members of the group captive insurance company.



  • Group Captive Characteristics & Success Factors

     
    Group Captives | Hugh Rosenbaum | Retired Principal of Towers Watson  

    One of the pioneers of the captive insurance movement discusses the characteristics of group and association captive insurance and describes some of the key factors of success for association and group captives. Hugh Rosenbaum discusses how the degree of control by outside parties, such as captive managers or insurance brokers, and the size of the captive affect the characteristics of these captive insurers. The key success factors for association and group captives are a sense of urgency among the group to solve its risk finance problems, ownership or control of the captive by the insureds, a long-term commitment with minimal attrition by the insureds, appropriate exit provisions, an understanding of the upsides and downsides of risk sharing and loss sharing, and careful underwriting.