Accenture and Generali Employee Benefits (GEB) have introduced a blockchain solution to improve the reinsurance process for captives in the employee benefits industry.
Ratings agency AM Best ha upgraded the financial strength rating of Sony's Bermuda-based pure captive PMG Assurance from A- (Excellent) to A (Excellent).
Insurance software provider CHSI Technologies has created captive management software designed to improve efficiency, transparency and compliance.
Employee Benefit Management Services (EBMS), a healthcare management company based in Montana, has appointed James Vertino as its CEO.
Insurance service provider Davies Group has acquired Veriphy, a specialist KYC (know your customer) and AML (anti money laundering) compliance solutions SaaS (software as a service) business.
BevCap Management, a provider of captive insurance, benefits consulting and risk management services, has entered into a strategic partnership with virtual physical therapy company Reflexion Health, which will provide BevCap clients with a digital platform enabling clinicians to remotely monitor patients.
Willis Towers Watson has introduced a digital tool to help organisations analyse the financial feasibility and future profitability of their captive insurance strategies.
Marsh has appointed Kevin Richards to the newly created role of global head of cyber risk consulting, based in Chicago.
While much is already being done, the captive industry on Bermuda in particular would benefit from more being done in schools and universities to educate young people about the opportunities the industry can offer – especially as technology becomes more important to risk-transfer and the industry will rely on millennials to drive this forward.
CIC Services, a risk management consulting firm specialising in captive management, has selected software provider CHSI's core enterprise insurance management software to boost efficiencies within its operation and position the firm for growth.