THE CAPTIVE INSURANCE COMPANY'S GUIDE 13
PROFESSIONAL SERVICE COMPANIES
Professional Service Companies
Two leading U.S. professional service companies implemented Ventiv's IRM
solution for captives.
In both cases, their existing situation was challenged by a combination of legacy
formal systems, ad-hoc spreadsheets and manual procedures as part of their
operational system for insurance administration.
Ventiv IRM™ was selected to allow them to have a single insurance
administration system covering:
• Integrated matter reporting and case management from partnerships.
• Managing claim financial responsibilities between local retentions (including
fronters), captive and reinsurance markets covering reserves, payments and
recoveries arising from a complex program structure.
• Elimination of manual and ad-hoc procedures with an automated, integrated
and systemized business process with associated efficiency gains.
• More flexibility in deciding the service providers involved in managing the
insurance administration, allowing for in- or out-sourcing.
• Availability of ISO27001 data certification and hosting of the system plus
their data outside the United States using the Ventiv EU data center.
THE CAPTIVE INSURANCE COMPANY'S GUIDE 13
