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 an onboarding process in place for new members of a group captive insurance company. Onboarding should begin early in the new relationship with an eye on opening up communication channels between captive management and the new member. Ideally, onboarding should include a formalized process outlining key changes to the new member organization's insurance program and how this might impact its operations on a go-forward basis. Communication channels between the group captive insurance company and its members should be firmly established early in the new relationship.