A Powerhouse Technology Solution for Captives
24-Apr-2011 | News-Press Release
Key Challenges of a Captive
For years, group captive managers have struggled to keep track of member information, such as contacts, program enrollment, and other coverage details. Many groups relied on multiple systems, databases, and spreadsheets. As a result, group administration was time-consuming, labor-intensive, fraught with errors, and costly. If groups wanted to grow, they had to hire additional staff to handle increased workloads. And, without an adequate data platform, groups were forced to use retrospective information to make business decisions. Needless to say, this lack of a centralized data platform hampers a group’s ability for strategic planning and growth.
The article uses the example of Golden State Risk Management Authority (GSRMA) as a recent successful implementation of the CHSI Connections® Management System (Connections), which offers a comprehensive group captive management solution to meet member, data, and business needs.
Scott Schimke, ARM, Executive Director at GSRMA said, “It serves as a complete risk pool management system, and not only provides us with the capability to easily collect and centralize member information; it also automates and streamlines underwriting, rating, billing, reporting, loss prevention, risk control, and more.”
About Captive Review:
Captive Review, launched in December 1999, is read by over 12,000 subscribers, 60% of whom are captive owners. The magazine and website are also widely used by captive management firms and the wider captive insurance service provider sector. Captive Review and captivereview.com are wholly owned by Pageant Media Limited, an independent publishing company that was formed in February 1998 and has grown to become a leading information provider within its core markets. Visit the website at www.captivereview.com.
About CHSI Technologies:
CHSI Technologies offers a suite of software solutions designed to diminish the time and effort
involved in policy administration for the alternative risk insurance industry. The technology
integrates dissimilar systems so that access to information is available on a real?time basis. The web?based solutions provide complete policy administration that links claims information and financial data for critical risk management decisions. CHSI Technologies is headquartered in LasVegas, Nevada. Contact Cindy Welch at 866?930?9742, or visit www.chsitechnologies.com.
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