Risk Management software

should your public entity participate in a risk sharing pool

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 bmas regulatory sandbox

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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should your public entity participate in a risk sharing pool

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

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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should your public entity participate in a risk sharing pool

8 Facts About Public Entity Risk Pools

Public entities, such as state agencies, municipalities and school districts, share a common bond in that their revenue comes from public funds or taxpayer dollars. In order to effectively manage risk with public funds, many public entities are forming public entity risk pools with immense success. For public entities considering joining or forming a risk…

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gig-economy

Insurance software solutions for the Gig economy

The global corporate landscape is changing and small to medium-sized insurance companies have excellent opportunities to capitalize on these changes. The buzzword fueling the change is known as the “Gig Economy” and it is taking the small business world by storm.   The Gig Economy consists of an ever-growing demographic of individuals who work as…

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risk-sharing

How Risk-sharing pools have surpassed commercial insurance for public entities

For public entities, such as cities, counties and school districts, risk-sharing pools have provided a viable alternative to commercial insurance plans. Created in the 1970’s and revived in the 1980’s, public entity pools offer the means to stabilize taxpayer funds for public employee insurance plans.   Public entity risk-sharing pools differ from commercial insurance plans…

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workers-compensation

Key benefits of implementing Digital RMIS Technologies for workers compensation

Self-insured businesses not currently using workers compensation software to manage their risk and claims cost may be doing themselves and their employees a disservice. This is especially true for companies in areas such as construction, energy, and mining that have typically higher risks for on-the-job injuries. For these companies, software designed to manage workers compensation…

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insurance-underwriter

Insurance Underwriting Software is Here and The Future is Now

Automation has long been seen as a harbinger of the future. When machines can do the thinking, human employment is expected to decline. Underwriting software holds a different promise. Current day insurance companies, even small-to-midsize firms, can see the value of their underwriters intensify. Here are a few ways insurance underwriting software makes the underwriter…

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Captive Insurance

5 Key Factors a Company Must Consider Before Forming a Captive

Forming a captive is almost identical to forming a company. The parties involved must clarify goals, consider potential partners and follow established protocols. Indeed, when forming a captive, you and your partners are forming a limited liability insurance company. Here are some factors to consider, and some captive insurance technology solutions to implement, before forming…

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