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Operations and Management

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How Numerate Is Your Board? The Case for Captive Board Numeracy

What is "numeracy," and why is it an important attribute for captive board members to have? This article examines numeracy, innumeracy, and relevant examples—with a specific look at insurance.
June 03, 2020 Read More
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Understanding Artificial Intelligence and Asset Management

As in other areas of the captive insurance world, artificial intelligence (AI) is becoming an increasingly important component of the asset manager's tool kit. This article provides a brief primer on AI and asset management by way of a discussion with Alton Cogert of Strategic Asset Alliance.
May 27, 2020 Read More
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Artificial Intelligence Brings Risk Management Opportunities, Risks

Artificial intelligence (AI) can provide opportunities for organizations to improve their risk management but also may create some new risks. Risk managers need to consider how to integrate risks generated by AI into the enterprise risk management process and how to understand the scope of AI risks.
May 20, 2020 Read More
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Hard Market, Industry Disruptions Create Captive Opportunities

With a traditional insurance market that appears likely to continue hardening, and that market facing disruption from events like the COVID-19 pandemic and potential new competitors, there are opportunities for captive insurance companies. Changes in market rates are drivers of alternative risk transfer activities, including captive insurance companies.
May 18, 2020 Read More
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Why Underwriting Discipline Is Critical for Captives

The current insurance climate makes it imperative that captive insurers practice some type of underwriting discipline. This article lays out the reasons for maintaining an underwriting profit and what it takes to do so.
April 29, 2020 Read More
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Artificial Intelligence, Predictive Modeling, and Risk Management

The ability to make educated guesses about the future has been enhanced over the last decade by the growth in artificial intelligence (AI) and predictive modeling. AI and predictive modeling could have applications for captive insurance.
April 20, 2020 Read More
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Everyone Quits, and It's OK

We focus a lot on the importance of retaining top employees. It reduces cost, increases productivity, builds trust and camaraderie—and the list goes on. However, we rarely discuss the elephant in the room: everyone eventually quits, even your best employee.
February 24, 2020 Read More
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Social Inflation—The Drumbeat Continues

We take a follow-up look at social inflation and its impact on 2020 renewal rates. Based on information from multiple sources, including Guy Carpenter and Willis, captives need to be taking action now.
February 10, 2020 Read More
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3 Modes of Planning—A Primer for Captives

This primer on one methodology for classifying the type of planning your captive may undertake explores three modes along with factors that influence planning.
February 05, 2020 Read More
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AI, Risk Management, and Captive Insurance

In this review of the new Federation of European Risk Management Associations white paper on artificial intelligence (AI) and risk management, we specifically look at the eight-step process recommended in the study for beginning the AI journey. We also make suggestions for how captives may begin to embrace this technology.
December 09, 2019 Read More
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Five Thoughts on Social Inflation

We explore the impact of "social inflation" on insurance claims and the difficulty it presents for insurance companies, particularly captive insurance companies. We offer five thoughts on what captives can do to prepare for this trend.
October 30, 2019 Read More
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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
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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
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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
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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
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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
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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
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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
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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