Management > Operational Management

Underwriting

  Organising the underwriting policy as defined by the Captive Board
(see Sogecore Consulting) :
   
-
Determining the Insurers / reinsurers to front or reinsure
   
-
Negotiation insurance and reinsurance conditions
   
-
Contract certainty
     
  Negotiating initial policies with insurers and co-insurers (if the client does not use a broker)
     
  Review of gross and net technical results through statistical analysis:
   
-
Per line and underwriting year
   
-
Per line and accounting year

Claims management

Sogecore determine appropriate resources for claims management.

Direct insurance captive

For a direct insurance captive, resources depends on claims volume and claims complexity (line, frequency). Sogecore can propose:

  Information and advice:
   
-
Contact with claiming insureds (to provide explanation on cover and loss indemnification)
   
-
Monitoring accurate and up to date information in relation with the captive insurance and reinsurance partners
   
-
Answering queries and communication of documents within the contractual relationship with insurance and reinsurance partners
     
  Administration : Claims registration, review of potential cover, loss adjustor mission, loss report review, settlement proposal to the insured.
     
  Reporting : Sogecore owns a customized dependable IT system to register all necessary technical data that can be audited by internal or external audits. It includes:
   
-
Claim notifications and internal group data from insured subsidiaries
   
-
Contractual information
   
-
Loss adjuster reporting

Reinsurance captive

For a reinsurance captive claims management is lighter as claims are settled by the fronting company. Sogecore handles:

  Administration: Gathering and updating loss records, information and follow-up with the reinsurers, claims settlement to the fronting company.
     
  Reporting : Sogecore IT system handles data from :
   
-
the broker
   
-
the insured
   
-
the loss adjustors


 
 
Copyright © 2011 - SOGECORE S.A. :: Captive management and Risk Strategy services
web agency brussels