Facebook logo
Facebook logo
Facebook logo
Facebook logo

Latest Headlines

Captive Insurance Times home | Interviews | Warren Vickers of CapSure ← You are here

[close]
Latest News
Exclusive: NCCIA weighs in as 1 May looms
21 April 2017 | Southern Pines
The NCCIA has filed a third-party observation in support of a lawsuit in federal court seeking a temporary injunction to stop the IRS from implementing Notice 2106-66 Read more

A.M. Best affirms National Grid captive
21 April 2017 | London
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” for the National Grid Insurance Company (NGICL), a captive of National Grid Read more

For more news visit our news section

Upcoming events
European Insurance Forum
Date: 25 May 2017
Location: Croke Park, Dublin
Find out more

Captives & Corporate Insurance Strategies Summit
Date: 05 - 06 June 2017
Location: Canada
Find out more

For more events visit our event section
Industry recruitment
There are currently no jobs available
For more jobs visit our recruitment section
Captive Insurance Times
View the latest issues online now

Sister publications
Securities Lending Times
http://captiveinsurancetimes.com

Asset Servicing Times
www.assetservicingtimes.com

Real Estate Investment Times
www.realestateinvestmenttimes.com

Media pack [download]
Ad specs [download]
Latest features
Cyber security regulations: The shape of things to come for captives?
Feature: In an environment of technological threats, cyber security is moving up the captive agenda, say EY Bermuda’s Daniel Message, Kerr Kennedy and Chris Maiato Read more

Cook Islands
Country profile: In an era of increasing uncertainty, Tamatoa Jonassen suggests that the Cook Islands can be a bridge to financial security in a captive Read more

Lisl Lewis :: London & Capital
Interview: Although ICC legislation was implemented in Barbados last year, SCCs are still leading the way, according to Lisl Lewis of London & Capital Read more

For more features visit our features section
Interview
Latest news
Warren Vickers
CapSure
Information captured from big data can give clients an insight into which areas of exposures they could benefit from, specific to their industry sector. Warren Vickers of CapSure explains

What common trends are you seeing in workers’ compensation? What about in medical stop-loss claims?

Workers’ compensation: Business owners and shareholders have become very aware of the litigious environment that we live in. As a result, they have had to adapt by implementing extremely sound safety policies and procedures within their businesses. The safer business practices have begun to lower their workers compensation claims, thus allowing them the opportunity for the first time to significantly profit from their own safe behaviour through setting up a captive insurance programme.

Medical stop-loss: Commercial insurance brokers possess a major business opportunity to use purpose-built insurance companies that provide medical stop-loss insurance to their current clients who have self-funded health insurance plans. The broker gets to participate in the underwriting profit and investment income from the health plans they are administering, rather than passing those profits on to a commercial stop-loss insurance carrier. With efficient underwriting, brokers can generate significant additional revenues. These are in-house revenues they are currently passing off to commercial stop-loss insurance carriers.

Have you seen an increase in workers’ comp and/ or medical stop-loss claims?

Workers’ compensation: CapSure Risk has very thorough underwriting assessments, claims review and processing controls for each of our worker compensation clients. We help programme members develop workplace policy guidelines to further assist them in creating a safer working environment. Our captive programmes have performed very well and claims experience has been lower on average.

Medical stop-loss: Our medical stop-loss programmes have traditionally lower claims history on average. Our underwriting assessments, claims review and processing procedures are very efficient and streamlined, and this allows our captive programme to perform extremely well.

How is data used to help captives reduce losses in workers comp?

Our data analytics tools allow us to analyse each prospective client’s business and determine areas of risks within the specific business, as well as areas of risk within the industry sector.

This information provides our clients valuable insight into their current risks, as well as what types of unforeseen risks they may encounter in the future based on their industry sector.

The data gives our business clients a head start to develop procedures that will efficiently and effectively deal with any future incidents, which consequently lowers their overall exposure.

A lot of our day-to-day operations have become streamlined through automating certain areas of our business which allows us more face time interaction with our client base.

How is technology evolving to help captives manage with all of the data available?

The diversity of information that we are able to capture through the evolution of big data provides us opportunity to perform detailed analysis on each prospective and current captive client, to determine exactly what areas of exposure they could benefit from based on their unique business and their specific industry sector.

This helps our clients’ businesses to save money by eliminating unnecessary and expensive coverages currently bundled into their existing traditional insurance policies. CIT

To view the full issue in which this article appeared - Click Here



Exclusive: NCCIA weighs in as 1 May looms
The NCCIA has filed a third-party observation in support of a lawsuit in federal court seeking a tem Read more

A.M. Best affirms National Grid captive
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer Read more

Cat losses estimated at $8.1 billion so far, says Macquarie
Macquarie Research’s catastrophe loss model estimates that losses for Q1 2017 currently stand at $ Read more

R&Q more than triples pre-tax profits in 2016
Randall & Quilter, the Bermuda-based non-life insurance investor, saw its year-end profits triple fo Read more

Capital supporting reinsurance continues to grow
Aggregate shareholders’ funds for companies making up the Willis Re index increased by 4 percent t Read more

Captive Insurance Times site map
Home
Home

Sitemap

Issue archive
Back issues online
Recruitment
Recruitment
Events andtraining
Upcoming events

Upcoming training

Company info
About us

Contact us


Copyright (C) 2013 Black Knight Media Ltd. All rights reserved. No reproduction without prior authorization