eMaxx Expands Platform for Insurers to Enter Variable Cost Captive Market

The platform includes technology, product development, marketing, sales support, administration and capable of assuming quota share excess of loss (XOL) reinsurance.

(Image source: eMaxx website.)

eMaxx (Peabody, Mass), an InsurTech commercial managing general agent specializing in alternative risk, has announced the expansion of its recently launched turnkey platform for insurance companies to enter the variable cost captive market. eMaxx describes its platform as including technology, product development, marketing, sales support, administration and capable of assuming quota share excess of loss (XOL) reinsurance. Insurance companies provide fronting, excess XOL reinsurance, claims oversight and their independent agency network.

Brian McCarthy, CEO, eMaxx.

“Variable cost captives are the fastest growing sector of the commercial insurance market and there is high demand for alternative risk captive programs,” comments 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’s platform for variable cost captive programs provides a technology-enabled centralized source for customers to manage their own insurance and risk management program. Through the 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.

Opportunity to Provide Products in Demand

Jeff Kenneson, President, Davies Captive Management.

“We have partnered with eMaxx since 2018 and seen the innovation they have brought to the market,” says 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 reports that it 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.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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