CLARA Analytics, an artificial intelligence (AI) and data science company focused on the P&C and disability insurance industries, aims to reduce the cost of claims with AI-based solutions by reducing claims leakage and frictional costs for both insurance companies and self-insured corporations.
Beijing Airport Captive Management Consulting (BACM) and Guernsey-based insurance manager Alternative Risk Management (ARM) have established a joint captive insurance venture together.
Sigurd Rück, the captive of oil and gas company Saipem, has selected Eurobase Insurance Solutions' software platform 'synergy2' to support its end-to-end reinsurance platform.
Allianz Global Corporate & Specialty (AGCS) has successfully implemented blockchain technology for the existing captive insurance programme of one of its clients.
Roundstone Management, a provider of self-insured solutions for mid-size companies, has formed a partnership with insurance brokerage Hub International to offer self-funded medical captives programmes.
Randall & Quilter (R&Q) has completed a novation of reinsurance policies issued between 2006 and 2011 from a group captive domiciled in the Cayman Islands.
Recent natural disasters have shone a spotlight on captive insurance, which can play an important role in helping organisations defray some of the related financial losses, according to Anne Marie Towle, executive vice president and captive consulting practice leader at JLT Insurance Management.
The Georgia Insurance Department has granted approval to Charlotte-based Atlas Insurance Management to act as a manager for captives domiciled in the state.
Risk retention groups (RRGs) continue to exhibit a 'great deal' of financial stability while providing specialised coverage to their insureds, according to a Demotech report of RRGs in the first quarter of 2017.
Cosco Shipping Energy Transportation, a shipping company largely focused on the shipping of oil products and liquefied natural gas, has entered into an insurance services framework agreement with Cosco Shipping Insurance.