IGP's Reinsurance to Captive value proposition combines deep expertise, flexibility, global reach, robust technical governance, detailed reporting and comprehensive support to deliver tailored employee benefit captive insurance solutions that effectively address clients' risk management goals and provide long-term value.
Key take-aways
- No minimum premium or headcount requirements
- Recommendation of a minimum premium volume of USD 3 million to ensure the technical sustainability of the program and mitigate volatility
- Two models available:
- Risk and premium model (quarterly retrocession with precession of the full net premium)
- Risk ceding model (standard quarterly retrocession)
- Option to maintain a residual pool for contracts not included in captive program
- Individual contract reporting by underwriting year
- Comprehensive retro protection
Subject matter expertise
- In-depth knowledge of the local market and trends through our leading local network partners
- Dedicated IGP servicing team fully accountable for client relationship, program management and administration
- Integrated underwriting support, accounting, legal, compliance and risk management functions
Flexible reporting and data management
- Comprehensive financial data shared per contract in quarterly bordereaux and annual reports
- Contract reporting delivered by local underwriting year
- Flexible approach offering both precession and cession only per contract
- Local insight, technical guidance, and benchmarking provided during the renewal process
- Communication and reports shared using safe & secure delivery methods according to client’s and compliance standards
- Option to have a residual pool next to the Captive arrangement allowing greater flexibility and risk management
Innovative value proposition
- Risk exposure mitigation tools: flexible surplus and stop loss protection
- Comprehensive retro protection through bespoke reinsurance arrangement
- Medical Claims Reporting Dashboard that provides interactive, global insight on health benefits utilization for each participating local plan, by diagnostic category and benefit class.
- Flexible collateral options tailored to retrocession model (funds withheld vs funds transferred) and net risk exposure (with or without retro protections)