CaptiveSimple Launches Platform to Streamline Captive Insurance Formation

InsurTech startup CaptiveSimple has introduced a new platform designed to automate and simplify the process of forming captive insurance companies. By leveraging automation and real-time data, the Wyoming-based company aims to reduce the cost and complexity traditionally associated with captive insurance formation.  

According to CaptiveSimple, the platform can cut the cost of setting up a captive by more than 50 percent compared to conventional methods. It automates key early stages—such as indication, viability, and feasibility—replacing manual processes with digital tools that provide instant updates and guidance. This approach is intended to support faster decision-making for brokers, businesses, and advisers.  

Additional features include a shared interface for executives, legal teams, and accountants, as well as an integrated learning hub called Captive University. Delivered as a software as a service (SaaS) solution, the platform offers multicaptive dashboards, financial reporting capabilities, and support for ongoing management. 

"Captive insurance has long been a complex and time-consuming process, leaving businesses in a data vacuum," said David Richter, CEO of CaptiveSimple. "Our platform demystifies captives, making them more accessible and cost-effective."  

Brandon White, chief growth officer at CaptiveSimple, added, "We are not just automating processes; we are creating a digital ecosystem where all stakeholders can collaborate and thrive."