How To Manage a Captive More Efficiently
Managing a captive efficiently comes down to having a streamlined approach. A captive manager coordinates multiple pieces such as actuaries, auditors, regulatory bodies, and financial statement preparation. If a captive manager does not believe it has the resources, it should look at a firm to help with back office support. This gives the captive manager the power to streamline many things for its captive clients including information and claims processing, according to Jeremy Colombik, president of Management Services International.