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Captives Creating Ease With Underwriting Administration

Captive management is a multi-faceted endeavor with two basic objectives: to manage risk and preserve assets for the insured. One of the primary aspects of captive management is the matter of underwriting. Regardless of premium rate structures and other aspects of captive management, the functionality of the underwriting system can make or break the captive.…

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Safety Audit Tips For Captive Insurance

Captive insurance programs are a great way for companies to manage and mitigate risk while protecting cash flows and expense outlays. Similar to public entity pools where insurance programs are administered specifically for the group being covered, captive insurance companies are actually owned by the entity or entities for which coverage is provided. In order…

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Improving Adjuster Efficiency and Accuracy

At the heart of every successful small insurance company is a claims processing department that operates efficiently and accurately to protect the company’s assets to the greatest degree possible while delivering the products and services necessary to meet the needs of its customers. Studies show that the costs involved with claims processing often comprise as…

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Best Practices for SaaS Integration

Offerings such as SaaS (Software As A Service) and cloud technology are allowing smaller insurance companies to run state-of-the-art insurance management software and underwriting software through partnerships with companies serving as third-party providers of these services. While the improved, streamlined services for clients has helped to boost insurance sales and improve services to existing customers,…

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Continental Heritage Insurance Co. Chooses CHSI Connections for Cannabis Liability Launch in California

Henderson, NV—August 28, 2018 – CHSI Technologies, Inc., a provider of enterprise-class insurance software, is pleased to announce that Continental Heritage Insurance Company, a specialty insurer for emerging markets based in Cleveland, Ohio, has chosen CHSI’s Connections® insurance management software to facilitate success in its launch of a Cannabis Liability product for the marijuana-related businesses.…

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Hot Topic Issue: What is The Tax Shelter Captive?

When the federal government adopted The Tax Shelter Captive IRC 831(b), captive insurers were provided the opportunity to deduct premiums from their tax bill. The benefits are obvious. Unfortunately, those benefits led to an abuse of the system. Some captive insurance groups are merely tax shelters that offer little to no risk coverage. How do…

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More Firms Now Using Captives for Cyber Liability and Terrorism Risk Insurance

Captives are a risk management strategy currently experiencing growth across industries as a result of a healthy economy and subsequent growth of business sectors. As organizations, both large and small, expand across geographies, they are challenged by complexity, regulations, employee benefits and shifting business alliances. Captive insurance technology has kept pace with a growing demand,…

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Will Captives Use BMA’s Regulatory Sandbox?

The Bermuda Monetary Authority has opened an application process designed for insurers interested in experimenting with new technologies within a relatively risk-free and carefully modified regulatory environment. A regulatory sandbox is a new and extremely relevant concept as the insurance industry expands in non-traditional ways and leverages new technology. Here are a few examples of…

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Best Practices for Locking Down Your SaaS Enterprise Security

Small to medium-sized insurance companies are turning to Software-as-a-Service (SaaS) with an ever-increasing frequency. It is important that data channeled through SaaS is safe and secure to the greatest degree possible against being lost, stolen or corrupted. There are recommended measures that can be taken to help protect sensitive data from being compromised.   Avoid…

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What a SaaS Model Should Incorporate to Be Successful

Smaller insurance companies are migrating away from traditional in-house hardware and software systems, and who can blame them? New and innovative cloud-based applications are now available that save these companies time, money and headaches. These systems, known as Software as a Service, or SaaS, are changing the landscape of insurers and allowing smaller companies to…

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