Categories & Criteria
Open to all actuarial firms or internal divisions serving the US captive market. The award looks at firms who demonstrate excellent service, meet clients’ needs and show a dedication to improving customer satisfaction. Judges will be looking for companies whose customers hold in high regard their loss reserving, risk modelling, business planning, forecasting and the development of early warning systems. Specific contributions to professional organizations and specific mention of participation in discussions with regulators to support (or resist) regulatory developments will also be considered.
Audit & Accountancy Services
Open to all auditing and accounting businesses servicing US parented captives. Entrants will be judged on their ability to deliver efficiency in key areas, such as tax reporting and auditing. Judges will pay particular detail to the entrants’ understanding of their client’s specific requirements.
Captive Broking Services
This category recognizes the role of brokers when placing reinsurance for ART programs. Additionally their advisory work around risk transfer and the structured solutions of existing or new captive/ART structures. Examples which best demonstrate excellence in client support, uses of technology and trusted advisory services will be recognized particularly when identifying, quantifying and managing your clients’ risk exposure.
Captive Collaboration Project
This award is open to any of the multiple captive ‘partnerships’ that operate in order to support a Captive. This can be a mix of the captive and its services providers (or any combination of collaboration). Judges will look for creative and innovative solutions delivered through truly collaborative approaches. Evidence cross-business planning, implementation and support together with collegiate thinking, deliver and implement an innovative alternative risk transfer structures will be factors for the panel to consider.
Captive Compliance Specialist
Captive Review recognizes the importance of compliance specialists and their role in ensuring the highest governance practices are applied. This category is open to organizations or divisions within who’s role in applying the many laws and regulations for complex insurance programs is their stable business. Examples of bringing cost and time efficiencies, simplified reporting statements and delivering unquestionable governance for their client will be considered favourably. Particular focus on the use of software and its application for multi-national/state programs, together with evidence of business growth, client satisfaction and expansion will be what the judges are looking at.
Open to any captive consultant working with US-owned captives (individual or company). Entrants will be judged on their expertise at identifying risk management solutions for clients through sophisticated modelling and expert industry knowledge. Judges will also consider the levels of support providing to the client and client satisfaction.
Captive Domicile of the Year - Less than $5bn Gross Written Premium
Open to all captive managers that have underwritten less than $1bn of gross written premium in the last 12 months. Entrants will be judged on their growth by revenue, client numbers, service offering and client satisfaction. Judges will consider the implementation of technology, accessibility for clients and initiatives developed.
Captive Domicile of the Year - More than $5bn Gross Written Premium
Open to all domiciles that are home to more than $5bn of gross written premium, whether onshore or offshore, and are serving American owned captives. Judges are looking for evidence that the highest standards of regulation are implemented, alongside an established insurance framework. Innovation in regulatory acts passed during the judging period and new formations will be considered.
Captive Innovation Award **NEW FOR 2022**
This new award is to recognize a captive manager or risk manager who implemented a creative and innovation solution to problem with a captive solution. Judges will be looking for creativity and originality in the solution, with the winner demonstrating a new approach to captive management or formation.
Captive Manager of the Year – More than $1bn Gross Written Premium
This award is open to all captive management companies that have underwritten more than $1bn of gross written premium in the last 12 months. Entrants will be judged on their growth by revenue, client numbers, service offering and client satisfaction. Judges will consider the implementation of technology, accessibility for clients and initiatives developed.
Captive Manager of the year - Less than $1bn of Gross Written Premium
Open to all Captive Managers that have underwritten less than $1bn of gross written premium in the last 12 months. Entrants will be judged on their growth by revenue, client numbers, service offering and client satisfaction. Judges will consider the implementation of technology, accessibility for clients and initiatives developed.
Cell Captive Initiative
The market’s approach to the hardening conditions has seen a significant upturn in Cell Captive formations. Particular attention to this 2022 category, will be paid to original thinking, effective design and efficient implementation to support the transfer via any of the jurisdictions’ cell captive legislative structures.
Open to any claims handling firm or TPA who services captives. Judges will be looking for high quality service given to claimants. Subrogation services, loss adjustment services, third party administration and claim adjustment services in particular will be a focus. Growth in client numbers and retention of clients will be considered by the judging panel and will the use of technology or other methods to drive efficiencies and customer satisfaction.
This award is open to collateral providers offering letter of credit, trusts and other collateral support products. The focus will be on the growth of the provider through an increase in client numbers and the retention of clients, resulting in greater customer satisfaction.
ESG Captive Initiative **NEW FOR 2022**
For the first time Captive Review recognises an outstanding environmental, social and governance (ESG) initiative implemented by an organisation within the captive insurance industry. Judges will be looking at the entirety of the ESG program and how it furthers ESG improvements in the industry. Captive solutions to problems arising from ESG will be considered highly.
This category is open to Service Professionals & Captive Owners. It recognizes a young professional working as a risk manager/within a risk management team operating a captive, or working on the provider side of captive insurance. The individual will have demonstrated a passion for captive insurance and the ambition to make a lasting impact.
Employee Benefits Network
The specialist can come from any side of the employee benefits space. Entrants will be judged on their specialist knowledge of employee benefits, allowing them to provide bespoke programmes to captive owners. Customer satisfaction and retention will also be taken into account.
Open to all insurance companies providing either domestic, international or multi-line fronting services to US captives. Judges will look for a nuanced approach to their client’s needs, through stable, compliant and flexible fronting arrangements. This entry will highlight initiatives that sets fronters apart from competitors with examples of solutions for difficult to place risks or other complex structures. This excludes EB Fronting business (please see the Employee Benefits Network category for this activity).
Captive Risk Manager of the Year
This award is open to all risk managers at captive-owning organizations. It will recognize individuals that have demonstrated innovation, forward-thinking and a dedication to advancing their own operation and the wider captive insurance market.
Captive Service Professional of the Year
This professional will have excelled in their field during the last 12 months. judging will be based on examples of innovation and a strong commitment to the US captive insurance market. The individual may nominate themselves or be nominated by their organization or peer.
Open to asset managers and investment advisors. This award will be judged on a firm’s ability to develop customized investment strategies or vehicles, with an understanding of the insurer’s financial objectives. Regular reviews of investment performance and strategy, which results in greater profitability for the captive, will be key for our judges.
Entrants to this award will be judged on their performance of providing either restructuring or exit solutions for captives or other ART programs. Effective and expedient solutions are key, and entrants should be able to demonstrate a wide range of solutions, from acquisition to novation and loss portfolio transfers. Notable successes and relationships with clients will be considered by the panel.
Open to all legal departments or law firms operating either ‘offshore’ or in the United States, serving US clients and their captives. The award recognises contributions to the captive market through legal expertise and innovation, strategic vision and business winning client care. Specific contributions such as participation in discussions with regulators to support (or resist) regulatory developments should be cited in your submission. The judges will also be keen to see case studies and/or client testimonials.
Next Gen Initiative
This award is open to organizations that have implemented initiatives aimed at bringing in the next generation of talent to the captive industry. Organizations will need to display the innovative ways they are promoting the captive industry to the next generation, as well as training and educating the next gen to prepare them for stepping into captive roles.
This award is open to any company serving the US captive insurance market, whether you are a technology business, insurance broker, intermediary or service provider. Judges will be looking for the application of a new technology that can enhance the operational efficiency of a captive, and enhance the quality and cost effectiveness of placing risk in a captive. Customer service, low error rates and effective implementation will also be considered.
Underwriting Solution of the Year
This award will be open to all insurance and reinsurance companies providing services to US-owned captives. Entrants will be judged on displaying a dedication to clients through a wide range of services as well as the ability to solve complex problems. Attributes that sets a company apart from its peers will also be considered.