CaptiveSimple launches new captive insurance platform
CaptiveSimple, a US insurtech startup, has launched a new platform that it says is designed to transform the captive insurance industry. By automating the indication, viability, and feasibility process, CaptiveSimple said that it delivers a streamlined solution for businesses exploring captive insurance at less than half the cost of the traditional captive creation process.
Founded by three insurance professionals with decades of combined experience, CaptiveSimple addresses the inefficiencies of the outdated, manual processes that dominate the captive insurance sector, the company claimed. The platform replaces months of meetings, calls, and paperwork with a transparent, AI-driven system that provides real-time data and clear next steps, empowering businesses, brokers, and agents to make informed decisions quickly.
“Captive insurance has long been a complex and time-consuming process, leaving businesses in a data vacuum,” said David Richter, chief executive of CaptiveSimple. “Our platform demystifies captives, making them more accessible and cost-effective. By automating the feasibility process, we’re cutting costs by over 50% while delivering unparalleled transparency and efficiency.”
Key features of the CaptiveSimple platform include:
• Automation: Eliminates manual processes, reducing latency and human error.
• Real-Time Data: Provides instant access to progress updates and required information.
• Collaboration: Enables seamless integration of vendors, C-suite, legal, and accounting teams.
• Comprehensive Education: Offers a robust “Captive University” to guide users through every aspect of captive insurance, from formation to risk management.
CaptiveSimple said that its SaaS platform is delivered via a scalable web interface, developing features to support captive implementation, multi-captive dashboards for brokers, and enhanced reporting for financial and claims data.
“CaptiveSimple is the natural evolution of the insurance industry,” added Brandon White, chief growth officer at CaptiveSimple. “We’re not just automating processes; we’re creating a digital ecosystem where all stakeholders can collaborate and thrive.”
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