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CHSI Connections Tag

Peer-to-peer networking, technology and industry updates highlight user group event.   Whoever said that insurers are still in the dark ages when it comes to technology, or that they don’t know how to have fun obviously didn’t attend CHSI’s User Workshop!  More than 40 of CHSI’s customers gathered with their peers and with CHSI key personnel in Las Vegas last month for a three-day educational and networking...

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Small and mid-size insurance firms have to stay within budget while maintaining employee satisfaction. High employee turn-over and overworked staff leave negative impacts on your company's bottom line. Cloud-computing is a way to increase the productivity of the workers you have without wearing them down. It also helps attract and keep younger talent. Read on for more detail about how cloud computing benefits employees and...

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In the ever-changing world of technology, smaller insurance companies may be finding themselves struggling to stay abreast of the most current trends of their businesses while ensuring compliance with state and federal regulations. Relying upon traditional in-house software can be problematic for companies looking to grow their businesses. Small insurance companies including captives are often faced with software needs that go beyond traditional captive insurance technology...

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Software-as-a-Service (SaaS) is taking the smaller insurance industry by storm and with good reason. Small to medium-sized insurance companies do not have the capital resources that their larger counterparts have which, in the past, significantly limited their ability to compete. The advent of SaaS has dramatically leveled the playing field for smaller insurance companies by making insurance company software available through cloud technology, effectively eliminating the...

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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. Before spending thousands of dollars on insurance software, including insurance policy...

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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, the initial processes involved for transitioning to a SaaS system can...

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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 you know that the captive you are joining, or the one...

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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, enabling captive insurers to access data across geographies and expedite...

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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 Deadline Vulnerabilities The rush by insurance software providers to complete development or updates to...

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Public entities, such as government agencies and municipalities, have unique needs when it comes to insurance and risk management. Because their sources of revenue are public funds, i.e. taxpayer dollars, they are held to a higher level of stewardship than businesses in the private sector. In order to help mitigate risk while preserving revenue, some public entities are joining risk-sharing pools. While there are advantages to...

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