Information technology
Philip Cameron talks to Cayman Captive about the importance of accurate and timely information technology to maintaining a captive’s competitive edge.
Carrier technology: one of your greatest assets Does your captive view its fronting carrier as an asset? The answer to that question in a
marketplace challenged by price, exposure growth and investment yield is driven in part by the efficiency and productivity gains your key business partner helps you achieve and how they position you for the future. The relatively complex nature of captive structures demands a certain level of sophistication from insurance carriers that operate as the spinal cord of the captive enterprise. Captives can vary in their complexity depending on their ownership structure, number of shareholders, risk-sharing dynamics, premium size, lines of business and geography, so it is vital that the carrier has a technology platform that can effectively and reliably account for these variables in the normal course of business. Technology always plays a central role in captive insurance transactions, but its value comes to the fore in a soft market where captives need their carrier partners to help them protect receding margins and position them for the future. A platform that addresses the unique needs of captives creates a sustainable advantage in captive performance throughout the cycle.
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