Captive insurance companies will run the insurance industry in the next 10 years, according to Jason Flaxbeard, executive managing director of captive management & consulting at Beecher Carlson.
Speaking on the ‘international hot topics–a view from the US’ panel at the 2018 European Captive Forum, Flaxbeard said the industry could overcome the threats currently opposing it.
He explained: “The headwinds opposing captives aren’t insurmountable.”
“I think the captive industry is very rosy and with the help of integrated risk programmes, captives are going the insurance industry in the next 10 years.”
Another of the panelists, Todd Cunningham, head of strategic risk solutions at Zurich North America, suggested that global emerging risks represented an area in which captives could have a huge impact.
Cunningham commented: “Emerging risks are opportunities. It is incumbent on captive managers to own those emerging risk markets, such as cyber and supply chain, and to work with partners and carriers to succeed.”
“That is where captives can play a critical and relevant role, and be a positive force in the industry.”
