eMaxx passes $100 million in premiums
Massachusetts-based captive program administrator eMaxx has passed $100 million of in-force premiums. It passed the “significant milestone” after fourth year in business.
According to eMaxx, its “tech-enabled” captive programs have seen claims frequencies reduced by more than half, resulting in a reduction in the severity of claims.
“This has been a direct impact of the company’s approach with the utilisation of risk management technology combined with program structure,” it added.
Brian McCarthy, CEO of eMaxx, said: “Our customers are aligning their own interest by desiring ownership, accountability and transparency in their own insurance program. Customers not only control their own claim experience but they have greater incentive to improve loss control and workplace safety.”
The company can support homogenous, heterogeneous (regional) captives, single parent and enterprise captives for insurance company partners. It also acts as the sponsor of Vermont domiciled captive reinsurance company eCaptiv, which provides protected cells reinsurance support. It recently launched a technology platform for variable cost captive programs.
As well as eCaptiv, eMaxx Assurance Group has three other operating companies:: eMaxx Insurance Services, the insurance program administrator; eRisk Solutions, for loss prevention, safety, claims investigation, oversight and litigation management; and eTech Services, supplying loss expense reducing technology systems.