As a follow up to our blog "Q&A with Amethyst" on April 23rd, we promised a Captive Assessment Tool would be added to the portal. This was completed just in time for the Vermont Captive Insurance Association conference (August 7th – 9th). If you are going to be attending VCIA’s 2012 conference, please be sure to stop by our booth # 74. Jeff Adcock, FCAS, MAAA will be manning the booth!
The Captive Assessment tool was developed in conjunction with Jim Girardin and Tara Smith at Amethyst Captive Insurance Solutions, Inc. The tool can be downloaded from our portal at www.RISK66.com. If you don’t already have a password for the portal, its FREE. Simply register at www.SIGMAactuary.com/education.
The Captive Assessment Tool provides a solid framework for discussion between you and your client concerning the appropriateness of a captive. Through a series of questions in an automated spreadsheet tool, the need is assessed and a “score” is provided. This tool is straightforward to use and is an excellent addition to your annual stewardship effort. It is also a great way to make sure you are protecting your most important client relationships by ensuring you cover some of the more technical conversations that can be competitive vulnerabilities with some clients.
The Powered by SIGMA portal and new Captive Assessment Tool were recently featured in July's issue of RoughNotes Magazine. The article gives a good overview of how mid-sized brokers are increasingly turning to more complex solutions for their clients and competing effectively with the largest brokerage firms. SIGMA, and the Powered by SIGMA portal, is designed to support that trend with information and tools.
As always, send me your feedback or question to TLC@SIGMAactuary.com.
© 2012 SIGMA Actuarial Consulting Group, Inc.