eMaxx Expands Platform for Insurance Companies to Enter Variable Cost Captive Market
PEABODY, Mass.–(BUSINESS WIRE)–eMaxx, an InsurTech commercial managing general agent specializing in alternative risk, announced today the expansion of its turnkey platform for insurance companies to enter the variable cost captive market. eMaxx provides a platform that includes technology, product development, marketing, sales support, administration and can assume quota share excess of loss (XOL) reinsurance. Insurance companies provide fronting, excess XOL reinsurance, claims oversight and their independent agency network.
“Variable cost captives are the fastest growing sector of the commercial insurance market and there is high demand for alternative risk captive programs,” Brian McCarthy, CEO, eMaxx. “Commercial Insurers can enter the alternative risk market quickly and provide their independent agency partners a branded product within months instead of years.”
eMaxx recently launched its customer centric technology platform for variable cost captive programs. The platform provides a centralized source for customers to manage their own insurance and risk management program through the power of technology. Through the Customer Centric Platform, customers have access to insurance policies, program documents, historical exposures, claims details including access to the adjusters notes, real time billing information and have the ability to make payments. Customers that are members of the variable cost captive programs can view their fund performance and profitability. Risk Management capabilities include telematics ranking and score cards, driver files management, MVR monitoring and eLive Connect online learning platform.
“We have partnered with eMaxx since 2018 and seen the innovation they have brought to the market,” Jeff Kenneson, President, Davies Captive Management. “Their infrastructure including their proprietary technology are scalable and provide insurance companies the opportunity to provide products to their customers that are in demand. Davies Captive Management are pleased to be one of their key partners.”
eMaxx has the ability to build and provide support for homogenous, heterogeneous (regional) captives, single parent and enterprise captives for insurance company partners. eMaxx acts as the sponsor of eCaptiv, a Vermont domiciled captive reinsurance company that is organized to provide protected cells reinsurance support. Programs today are focused on the energy industry and emergency roadside assistance providers that are affiliated with AAA. Recent announcements include Amy Lussier as Chief Financial Officer of eMaxx and the appointment of Governor Mary Fallin-Christensen to the Board of Directors.
eMaxx Assurance Group of Companies, Inc. is an InsurTech that has four operating companies. The companies include: eMaxx Insurance Services, LLC (Insurance Program Administrator), eCaptiv (Vermont- Domiciled Captive Insurance Company), eRisk Solutions, LLC (Loss Prevention / Safety, Claims Investigational & Oversight, and Litigation Management) and eTech Services, LLC (Loss Expense Reducing Technology Systems and Platforms including Telematics Exchange and eLive Connect). More information can be found at: https://www.emaxxgroup.com.
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