Nordisk Aktuarservice handles all actuarial tasks involved in setting up a captive – an internal insurance company created to insure a corporation’s insurance-related exposures. Our captive specialists are experts in carrying out captive feasibility analyses, having established captives for several of the largest industrial corporations in Scandinavia.
Better risk management
Corporations with better than average claims records may consider establishing a captive or increasing retentions considerably.
Establishing a captive insurer or increasing retentions does not generate instant premium savings, but it will start a process of strengthening and intensifying the corporation’s focus on risk management which will imply:
- Fewer claims –> safer future
- Strengthening risk management
- Reducing claims
- Boosting captive’s retention levels
- Investing more in risk management
- Building information data bases, including better data registration for improved risk measurement
- More aggressive risk management with other things being equal, reduce costs. Any financial surplus may either boost retentions through an increase in equity and/or be used for investment in even better risk management. In other words, the corporation embarks on a journey to success.