Operations and Management

  Whats Your Story-SF

What Is Your Captive's Story?

With a very low unemployment rate, the need to compete for talent is imperative for captive insurers. We look at how a compelling story can help this effort and the five keys to success with specific emphasis on how captives should think about this process.
October 16, 2019 Read More
  Young Man Working from Home

Understanding the Competencies of the Optimal Remote Worker

One of the biggest organizational challenges companies must solve in today's work environment is team building. This can become particularly difficult in businesses that hire remote workers. Read about a proven interview method that will help your company discover the core competencies that make up the optimal remote worker.
October 07, 2019 Read More
  Businesspeople Jigsaw Puzzle-SF

Emotional Intelligence in the Workplace: Why It Matters More Than Personality

Emotional intelligence quotient (EQ) is more than just a term used frequently in human resources departments and executive boardrooms. Understanding what EQ is and how it differs from personality can improve your hiring practices and impact your workplace bottom line.
September 25, 2019 Read More
  Three Keys to Success-SF

3 Key Components to Managing a Successful Captive

There are many different components involved in running a captive insurance company. While completing audits, filing tax returns, and tending to other regulatory compliance items are important, a captive insurer should also consider other key components to ensure its success.
August 14, 2019 Read More
  Three Exclamation Marks-SF

3 Issues That Potentially Threaten Captive Insurers

Captive boards should be vigilant about surveying the environment to identify threats. Early identification and discussion around such matters can help a captive board determine whether future study and/or action is advisable or if the board will add the item to a watch list to be monitored.
July 08, 2019 Read More
  Planning

Your 6-Step Plan to Captive Optimization

Routine maintenance on your captive insurance company is important, just like it is on your car. To gain a holistic view of your captive's performance and evaluate the need for change, captive owners should ask themselves these 6 questions when they are seeking to optimize their captive.
July 03, 2019 Read More
  Three Gears-SF

3 Important Components of a Captive Claims Handling Operation

Part of a captive insurance manager's responsibilities involves overseeing claims handling protocols for its clients. Since claims are typically the largest cost of running a captive insurer, it is important that the captive insurance manager encourage clients to consider this aspect of the captive's operations early in the formation process.
June 26, 2019 Read More
  Job Search Candidate-SF

Clear Up Blind Spots with Behavioral Interview Questions

Traditional interviews when recruiting new employees leave companies susceptible to blind spots because they rely on hypothetical or subjective opinions. This creates the risk of hiring the wrong candidate. However, a behavioral interview will unlock reliable and measurable information about each candidate in order to hire the best fit.
April 24, 2019 Read More
  Checklist-SF

Captive Compliance 101: A Checklist for Maintaining a Healthy Captive

Making sure that your captive insurance company is bulletproof begins with verifying it is set up for the right reasons. This article discusses areas that an active captive insurance company should review frequently to remain compliant and in good shape. Read the latest from Management Services International.
March 20, 2019 Read More
  Data Analytics Abstract-SF

The Data Revolution in Actuarial Science

A new white paper by Milliman discusses the development of an actuarial technique involving the use of individual claims data to build loss reserve models. We offer commentary on this new technology and why it should be of interest to captive insurers and their board members.
March 18, 2019 Read More
  Code of Conduct-SF

SIIA Defines Captive Manager Role with Professional Standards

The Self-Insurance Institute of America, Inc. (SIIA), has released the "SIIA Captive Manager Code of Conduct," which provides professional standards of responsibility for captive managers.
January 23, 2019 Read More
  Cyber Threat Assessment-SF

Cyber Risk: A Devious Data Dilemma

Read the latest from Aaron Hillebrandt of Pinnacle Actuarial Resources, Inc., who discusses the "devious dilemma" of dealing with cyber-risk data reliability and the need to understand what the data represents.
January 14, 2019 Read More
  Work Injury Claim Questions-SF

Musings on the State of Workers Compensation

Single-parent and group captives have played a large role in allowing employers to self-insure their workers compensation risks. We look at new reports on InsurTech and medical costs as we gauge whether the positive pricing trends are likely to continue.
January 02, 2019 Read More
  I Love My Job-SF

What Is Your Plan for Making Hiring Decisions?

A growing company needs to reduce the risk of turnover and increase the return on investment in its human capital. This can be accomplished by forming a plan for hiring decisions that aligns each candidate with the job opening.
December 19, 2018 Read More
  business checklist SF Feature

Key Criteria for Selecting a Captive Claims TPA

The claims handling function is a critical requirement for all captive insurers. The decision to outsource this operation to a third-party administrator (TPA) requires significant due diligence. We explore some of the key criteria to consider in selecting the right claims handling TPA firm.
November 15, 2018 Read More
  Cyber Threat Assessment-SF

Cyber-Risk Quantification Is Key for M&A Professionals

In the insurance industry, many of the practical details surrounding merger and acquisition (M&A) transactions are based on reasonably sound approaches with sufficient supporting data where advisers can estimate the value of a target entity. What is challenging to quantify is the impact a cyber event may have on a target's value.
November 07, 2018 Read More
  lynn_sheils_fullframe_notext_SF

What To Include in a Captive Insurer's Claims Handling Procedures

A captive insurer's claims handling procedures should discuss all stages that are in the life cycle of a claim, according to Lynn Sheils, senior vice president and general counsel of EWI Reinsurance. Stages include how the notice will be handled, investigation standards, coverage evaluation, reserving approach, and claim closure philosophy.
October 01, 2018 Read More
  Businessman New Technology-SF

FinTech and Captive Insurance Revisited

How has FinTech impacted captive insurers? We look at key trends and changes reshaping the industry, including blockchain. The good news is that some captives are embracing this new future.
September 17, 2018 Read More
  Artificial Intelligence

AI and Captive Insurance—What Does the Future Hold?

Artificial intelligence (AI) and captives—what does the future hold? A look at current trends in the use of AI by financial services and specifically the insurance industry. We explore how these trends may affect different segments of the captive industry.
August 27, 2018 Read More
  Karin Landry VCIA

Captive Insurers Should Review Their Risks at Least Every 5 Years

According to Karin Landry, a managing partner with Spring Consulting Group LLC in Boston, after captive insurance companies are set up, their parents should periodically review the risks their captives are covering. At a minimum, this assessment should be every 5 years and, in some cases, more frequently.
August 14, 2018 Read More