Partner Health Deck Flashcards
Name
How long CRI and industry
Intro and captive/self funding experience
Approach we take
Intro CRI. What is a captive
Basic self funding terms. lean into before
Dive deep captive structure
Next, how premiums are set.
Risk/Reward captive model works
Drained
Fiancial requirements/owner
Independent Consultant
Independent Consultant
No ownership or voting rights
Resonsible for creation and oversight - advisory capacity
work with service providers perform effectively and efficiently
Not service provider
100% indpendent receive fee for administration & quality control
43+ Captives
half homogenous
half heterogenous
Shareholders & Premium
CIF
1994
Exclusive only to only CRI group captives
Vehicle used invest capitalization, loss funds, collateral
How do insurance co make money
Beat underwriting which becomes profit margin
invest reserve or collateral requirements into investment vehicle
that’s what you get
What is a captive
defined layer of risk
become owners of a reinsurance co
stop loss from W.R.L. Berkley in excess of defined captive layer
instead of biz owners being buyers
buying in as owner
powerful concept
Single Parent
Agency
Rent A Captive
Several types of captives: define/lean in to what we support
1. single parent - large co
2. agency - clients be issued guaranteed cost.
not know that behind scenes there is captive arrangement
do not own or control captive
owned by insurance co
3. Rent a Captive: owned by insurance co.
provide some benefits
having loss fund to pay claims
do not own r control the captive
owned by insurance co, they set the rules
Micro
Group
We are invovled in:
1. 831b’s set up for emerging risks
things not covered by traditional insurance programs
strict rules
team at CRI
2. primarily focus on group captives. 2 types
Homogenous Captives
same industries and risk profiles
familiar with exposures
allows risk control tailord to specific industry
Heterogenous
target the est risks from wide variety of industries
blend together in one captive
MSL, we feel best way to diversify risk
only option we discuss
Property captive
in one of our other captive programs to have access to this
fully insured moving into self funding
big jump
required in order to gain control
beauty of captive
expands the controls
owning part of the right
same page
Stablize cost
2 buckets
stabilize everyday claims
stablize and flatten renewal trend
Like Minded Business Partners
sick of traditional market
different outlet
owner of reinsurance co
learn from each other
Wellness Best Practices
focus on preventation - keeping healthy people healthy
Welcoa
Biometric Screenings
emerging trends
Improves Health Risk Management
approach of best practices
const containment solutions
specialty RX
Carve out programs
Sprinbuk
crate health management with broker
Tansparancy
premium basis,
line itemed out
owner of co - know where every dollar goes
monthly
six mnoths
net equity
Underwriting Profits and Investment Income
Captive doesn’t keep profit
return excess dollars
