THE CAPTIVE INSURANCE COMPANY'S GUIDE 3
And finally, some captives are tasked with helping to manage risk within the
parent; for these captives, having visibility of the parent's risk profile
is paramount.
5. Meeting strategic goals and parent expectations
Businesses today demand efficiency and cost-effectiveness as a matter
of course. It's important for a captive to be well positioned to demonstrate
its value to the parent company through, for example, effective cash-flow
management, alignment of corporate and business unit risk appetite, and
bringing in additional programs for coverage.
Captives have never had a more acute need for accurate, comprehensive data.
Today's captive must be very flexible in its use of data not only to respond to
reporting requests from its parent company, regulators and other stakeholders,
but also to satisfy growing operational demands. The rest of this eBook will
explore how captive managers can harness the power of data; even as the
volume and types of data grow rapidly, processes and tools are available that
deliver real value to captives.
Today's captive
must be very
flexible in its
use of data.
