#01
Upfront Assessment
Management
Thorough evaluation of captive feasibility and strategic planning considerations, including assessment of regulatory requirements, market dynamics, and risk financing options to inform decision-making and mitigate implementation risks.
#02
Risk Assessment
Advisory
In-depth evaluation of potential risks inherent to captive operations, including analysis of loss exposure, capital adequacy, and cash flow projections to inform risk management strategies.
#03
Risk Strategy
Advisory
Development of customized risk mitigation strategies tailored to the captive's unique risk profile, leveraging advanced modeling techniques, peer data comparisons, and fronting options to optimize risk retention and transfer.
#04
Feasibility Study Consultation
Actuary
Specialized advisory service provided to assist organizations in conducting feasibility studies for the formation of captive insurance companies. This involves expert guidance on assessing the viability, risks, benefits, and regulatory requirements associated with establishing a captive, helping stakeholders make informed decisions and develop a sound business plan.
#05
Regulatory Consultation
Regulatory
Expert guidance on regulatory reporting requirements, audit frameworks, and compliance tracking, ensuring captive operations adhere to relevant laws and regulations to avoid penalties and maintain good standing with regulatory authorities.
#06
Feasibility Study Initiation
Initiating the feasibility study to trigger actuarial analysis, regulatory consultations, and market research to inform strategic planning.
#07
Board Advisory Services
Management
Professional support for captive board governance, including director recruitment, meeting facilitation, regulatory compliance oversight, and development of governance policies to enhance transparency and accountability.
#08
Claims Admin Advisory
Claims
Strategic advice and oversight on claims administration processes, including selection of third-party administrators (TPAs), negotiation of claims settlements, and optimization of loss adjustment expenses to maximize cost savings.
#09
Legal Planning & Review
Legal
Strategic legal guidance and review of captive business plans, contractual agreements, and compliance frameworks to ensure alignment with regulatory standards and protection against legal risks.
#10
Feasibility Study Draft Review
Management
Examination of the initial actuarial analysis, including loss projections, pro forma, risk transfer requirements, and implications for the captive. Address data gaps to enhance the accuracy and effectiveness of actuarial models to maximize captive performance.
#11
Excess Capacity Strategy
Management
Strategic approach to optimize excess reinsurance capacity utilization within the captive's risk management framework, considering risk appetite, market conditions, and financial considerations.
#12
Financial Assessment Post FS
Accounting
Rigorous evaluation of projected financial performance post-feasibility study, analyzing risk financing expenses and long-term financial implications to refine strategic decisions.
#13
Captive Funding Advisory
Management
Strategic advice on surplus management strategies, including retention capacity optimization, reinsurance value maximization, and contingent capital access, supported by actuarial analysis and regulatory compliance expertise.
#14
Feasibility Study Final Review
Management
Comprehensive assessment and presentation of findings from the feasibility study to regulators and stakeholders, ensuring alignment with regulatory requirements and strategic objectives.
#15
Tax Implications Advisory
Legal
Comprehensive analysis and planning of tax implications related to captive operations, including evaluation of tax-efficient structures, deductibility of premiums, and compliance with tax regulations to minimize tax liabilities.
#16
Excess Capacity Negotiation
Management
Negotiation process with reinsurers to secure additional reinsurance coverage beyond retention limits, determining coverage terms, pricing, and conditions to optimize risk transfer.
#17
Finalize Incorporation Documents
Legal
Preparation and review of legal documents required for captive incorporation, including articles of incorporation, bylaws, and shareholder agreements tailored to meet regulatory requirements and strategic objectives.
#18
Reinsurance Commission Payment
Compensation paid to captive managers or brokers for arranging reinsurance coverage, typically calculated as a percentage of the reinsurance premium and negotiated as part of the reinsurance agreement.
#19
Investment Consulting
Investment
Expert consultation on captive investment strategies, including diversification of assets, compliance with regulatory requirements, and selection of suitable investment vehicles such as mutual funds, bonds, and structured products.
#20
Claims Set Up
Claims
Facilitation of seamless claims setup processes, including selection of preferred TPAs or utilization of preestablished relationships to expedite claims processing, reduce administrative burden, and enhance client experience.
#21
Finalize Excess Capacity
Concluding negotiations and contractual agreements to secure excess reinsurance coverage within the captive's program, aligning with risk management objectives and financial requirements.
#22
Regulatory Approval
Regulatory
Facilitation of regulatory approvals for captive operations, including license applications, regulatory filings, and compliance reviews, to ensure legal authorization and regulatory compliance for captive activities.
#23
Regulatory Filing Fees
Fees associated with regulatory filings and approvals, covering expenses such as license application fees, annual renewal fees, and filing fees for regulatory reports and compliance documentation.
#24
Policy Admin
Management
Efficient management of captive insurance policies, including policy issuance, endorsements, and claims handling, supported by robust policy administration systems and streamlined processes to enhance operational efficiency and client satisfaction.
#25
Investment Management
Professional oversight and management of captive investment portfolios, employing disciplined investment strategies, monitoring market trends, and optimizing asset allocation to maximize returns and mitigate risk.
#26
Ongoing Risk Mitigation Strategy
Management
Continuous effort to identify, assess, and address risks within the captive to minimize their impact on financial performance and stability, through tailored risk management practices and policies.
#27
Quarterly/Annual Report
Accounting
Automated generation and submission of comprehensive reports to regulatory authorities, incorporating financial data, claims information, and compliance documentation.
#28
Ongoing Maintenance of Books & Records
Management
Continuous management and upkeep of financial records and documentation, ensuring accuracy, transparency, and regulatory compliance in captive accounting and reporting practices.
#29
Annual Board Meeting & Governance Requirements
Management
Formal annual gathering of the captive's board of directors to review key strategic, operational, and governance matters, ensuring effective oversight and decision-making.
#30
Annual Review
Management
Comprehensive yearly evaluation of captive performance, including financial performance analysis, claims experience review, regulatory compliance assessment, and strategic planning updates to ensure continued success and alignment with business objectives.
#31
Annual Tax Filing Prep
Management
Thorough compilation and analysis of financial records to ensure accurate and timely filing of annual tax returns, incorporating deductions and credits where applicable.
#32
Annual Audit Prep
Accounting
Preparation of detailed financial statements and supporting documentation for internal or third-party audits, including reconciliation of accounts and compliance with audit standards.
#33
Emerging Risk Tracking & Planning
Management
Proactive process of identifying, monitoring, and assessing emerging risks to anticipate and prepare for potential impacts on the captive's operations and financial stability.
#34
Policy Renewal
Management
Facilitation of policy renewal processes, including underwriting review, premium calculations, and coverage adjustments, to ensure seamless continuity of insurance protection for captive clients.
#35
Insurance Program Expansion
Management
Strategic initiative to broaden the scope or coverage of an existing insurance program offered by a captive, including extending coverage to new risks, expanding policy limits or territories, or introducing additional insurance products.
#36
Miscellaneous Consultation
Management
Tailored advisory services addressing specific captive-related needs, including regulatory compliance support, claims management guidance, and strategic planning assistance to address emerging risks and opportunities.
#37
Miscellaneous Legal Support
Professional legal assistance for the various legal needs of a captive insurance company, covering contract review, dispute resolution, compliance advice, and tailored legal services.
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