1. 53September 2016
captivereview.com
INSUBIZ | CONTRIBUTOR FEATURE
Captive Review (CR): How flexible and ver-
satile is the sector that InsuBiz serves?
Pamela Hill (PH): We’re all aware of the alter-
native risk market’s diversity which ranges
from pure captives to self-insured organisa-
tions and everything in between. By virtue of
this diversity, the sector needs to be nimble to
keep pace with the constant changes to regu-
lation and legislation, yet continue to strive
for risk management excellence revenue and
profit. Historically, the insurance sector has
been very traditional and conservative but the
many new entrants in our industry – whether
CRO, captive manager or third-party advi-
sor – continue to provide fresh ideas and new
perspectives to old challenges. The industry
transformation we are experiencing requires
companies to think “outside of the box” for
means of profitability which perfectly aligns
with inevitable InsuBiz growth.
CR: How does InsuBiz use this to its advan-
tage?
PH: Collectively, InsuBiz team members
possesses over 120 years of comprehensive
insurance risk management experience. This
experience armed with an extremely flexible
database provides our client partners a total
solution which can be quickly adapted to deal
with any changing trends. We strive to stay
ahead of market trends by closely monitoring
market activity and aligning ourselves with
industry experts. We work in partnership
with our existing clients via our customer
focus groups and the strong relationships our
key account managers have built to ensure a
constant exchange of ideas and knowledge
enables us to be proactive rather than reac-
tive. Here at InsuBiz, we like to refer to our-
selves as business partners ready, willing and
able to work in accordance with “your” world,
not “ours”.
CR: While serving different industry areas,
how does InsuBiz make sure that good ser-
vice correlates across all departments?
PH: InsuBiz keeps business simple. We do not
outsource any aspect of our service. Each cli-
ent is personally managed by a member of the
InsuBiz team and each of us takes ownership
pride in being able to deliver a level of service
excellence, unparalleled in today’s market.
CR: How big a worry is cyber security in the
industry and how does InsuBiz tackle cyber
security and enhance data protection?
PH: The threat of a cyber security breach is
real and extremely costly on many fronts.
Daily, we learn of international businesses
being targeted and the frequency continues
to grow exponentially. InsuBiz is a strongly
encrypted hosted solution which enables us
to care for our client’s critical data storage so
they can concentrate on their business.
Having supported data risk management
initiatives for the majority of my career, one
critical success factor InsuBiz brings to the
table is our ISAE 3402 Certification. A tre-
mendously significant value add proposition.
What company doesn’t prefer transferring
ownership, particularly when it comes to
unnecessary corporate risk exposure?
CR: How does InsuBiz alleviate unneces-
sary risk exposure?
PH: InsuBiz is a tool that enables users to
more effectively manage the complexity of
actuarial and underwriting information
along powered with the underwriting and
logistics of policy and claims administration.
By incorporating all risk data and doc-
umentation onto one platform, InsuBiz
eliminates time wasted collating informa-
tion manually, time that now, can be spent
analysing/identifying trends and hotspots
or gaps in cover which otherwise, go likely
unnoticed.
CR: What key industry trends will be of the
most significance to InsuBiz over the next
12 months?
PH: There are a number of emerging trends,
all of which will have an impact on the
market over the next 12 months. InsuBiz is
perfectly positioned and flexible enough to
support all of them. Those most significant
to us will be emerging risks such as repu-
tational and supply chain risks as well as
inevitable, increased regulation. Another is
the need for a captive to demonstrate value
to its board members. With demands for
capital elsewhere and the traditional insur-
ance marketplace continuing to soften, cap-
tives are coming under increasing pressure
to demonstrate value for money. Offering a
clear view of risk, strong governance and full
reporting capabilities, InsuBiz is a blatantly
obvious partner for captive management
success!
INSUBIZ: A SIMPLE
DECISION
Pamela Hill of InsuBiz analyses the market and how the company is primed to tackle any
difficulty experienced
InsuBiz offers a state-of-the-art claims, underwrit-
ing and risk management solution, minimising risk
by supporting both the operational and compliance
functions of your business. InsuBiz provides action-
able insight to drive process improvements and
control costs. Capture and analyse data at policy,
asset or portfolio level and improve decision-mak-
ing across your organisation using current, accurate
data with full reporting capabilities. Built by
insurance professionals, for insurance professionals,
achieve insight, clarity and control with InsuBiz.
Pamela Hill