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Assumptions

Applicable to all years

0%

Annual Premium Increase

Assumes the static annual increase in the premium paid into the captive. Actual premium required year over year will be contingent on actuarial analysis, regulatory requirements, and the strategic imperatives of the captive business plan.

0%

Reinsurance
Allocation

Cost of Reinsurance

Anticipates the cost of reinsurance (as a percentage of total premium) to adequately protect the captive against excessive loss. Actual cost varies considerably based on market rates, appetite, and the coverage needed.

0%

Operational Expenses & Fees

Operational Expenses

The anticipated costs associated with running captive operations, including and if applicable, fronting fees, legal counsel for regulatory compliance, independent audits, claims adjustment, investment management, custody, and taxes. Also includes the anticipated fee paid to XN for managing the day-to-day operations of the captive, including and if applicable, claims administration, regulatory compliance, accounting, financial reporting, board of directors compensation, and fees for consultants, actuaries, or other professionals who provide specialized services to the captive.

Adjustable Values

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Annual Premium adjustment

To obtain the most accurate representation of the captive’s financial potential, this input should reflect the total cost of your current insurance premium(s) for the coverage(s) that you anticipate placing into the captive. Adjust the figure to better understand the financial impact of growing or shrinking the size of your captive.

Adjust

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Total Claims adjustment

To obtain the most accurate representation of the captive’s financial potential, this input should reflect the total amount of annual claims for the coverage(s) that you anticipate placing into the captive. Adjust the figure to better understand the financial impact of various loss levels.

Adjust

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Simulated Captive Performance

Results are estimated. Actual performance may vary.

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$0M

$6M

$4M

$2M

$0M

$2,894.21

2023

$2,894.21

2023

$2,894.21

2023

$2,894.21

2023

$2,894.21

2023

$2,894.21

2023

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Cumulative Surplus

Retained Earnings

Annual Premium

Total Claims

Reinsurance

OpEx & Fees

Category

2024

2025

2026

2027

2028

2029

Cumulative Surplus

The total amount of funds that a captive has accumulated year over year, including profits and reserves

$10,000,000

Category

2024

2025

2026

2027

2028

2029

Surplus

Annual Surplus

The surplus or profit generated by a captive within a specific fiscal year.

$10,000,000

Investment Income

The earnings generated from investments made by the captive, such as dividends, interest, and/or capital gains.

$1,000,000

Category

2024

2025

2026

2027

2028

2029

Annual Premium

The amount of premium paid by policyholders into the captive for a single year.

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$1,000,000

Category

2024

2025

2026

2027

2028

2029

Deductible & Losses

Deductible + Losses

The sum of the deductible amount paid by the policyholder and all other losses covered by the captive.

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$1,000,000

Loss Adjustment

A built in buffer to account for the cost of post-claim adjustments covered by the captive. This rate is set at 5%.

$1,000,000

Category

2024

2025

2026

2027

2028

2029

Reinsurance Premium

The amount paid by a captive to a reinsurer to transfer a portion of its risk exposure.

$1,000,000

Category

2024

2025

2026

2027

2028

2029

Operational Expenses

$1,000,000

Administrative Fees

The anticipated fee paid to XN for managing the day-to-day operations of the captive, including and if applicable, claims advisory, legal & regulatory compliance during formation, accounting, financial reporting, and formation fees for consultants, actuaries, or other professionals who provide specialized services to the captive.

$1,000,000

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Document Upload Requests

To start your Feasibility Study, please upload the requested documents in each panel. If a requested document is not available, please select '"Mark as unavailable".

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Financial Statement

What We Need: The most recent audited or consolidated financial statement, including the balance sheet, income statement, and statement of cash flows. If audited financials are unavailable, provide the aforementioned statements individually.

‍Why We Need It: Financial statements offer a comprehensive view of the company's financial health, solvency, liquidity, and profitability, enabling a thorough assessment of its ability to fund the captive, meet regulatory requirements, and manage risks effectively.

Financial Statement

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Policy Applications

What We Need: A minimum of 3 years (ideally, 5 years) of policy applications that you submitted to your insurance carrier. The more you send, the more history we have to avoid making assumptions that could negatively impact your potential captive structure and helps to offset the impact of outlier years in order to use the aggregation of the best info possible.

‍Why We Need It: Historical policy applications provide valuable insights into past risk assessments, underwriting criteria, coverage terms, and premium calculations, facilitating a more accurate evaluation of the company's risk profile, loss history, and insurance needs for designing an effective captive insurance program.

Policy Applications

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Summary of Insurance

What We Need: Overview of current insurance coverage, including policy terms, limits, deductibles, and exclusions.

‍Why We Need It: A summary of insurance policies helps identify areas where coverage may be lacking, excessive, or misaligned with the company's risk management objectives, guiding decisions on captive structure, coverage enhancements, and risk transfer strategies to optimize risk management and ensure comprehensive protection against potential losses.

Summary of Insurance

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Loss Runs

What We Need: Last 3 years (5, if available) of currently valued losses. Please ensure loss runs are up to date as of today, if possible.

‍Why We Need It: Loss runs provide essential historical claims data, aiding actuarial analysis to estimate future claim payments, reserve requirements, and overall financial impact on the captive. The more comprehensive the history, the better actuaries can avoid negative assumptions and offset outlier years, ensuring accurate risk management strategies and adequate capitalization to safeguard against potential losses.

Loss Runs

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Loss Prevention

What We Need: Details about your company’s response to past claims, including risk management strategies, corrective actions, and insurer feedback. Details or documents relating to safety trainings, equipment upgrades, or relevant process changes.

‍Why We Need It: Understanding loss prevention measures helps assess the effectiveness of risk mitigation efforts, identify areas for improvement, and demonstrate proactive risk management to reinsurers, regulators, and other stakeholders, enhancing the company's insurability, risk profile, and overall risk management capabilities within the captive insurance structure.

Loss Prevention

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Investor Deck

What We Need: A presentation that profiles your company history, key milestones, and growth metrics.

‍Why We Need It: An investor deck provides insights into the company's strategic direction, growth prospects, and competitive positioning, enabling stakeholders to assess the company's long-term viability, financial stability, and growth potential, which are essential considerations for evaluating captive insurance feasibility, investment attractiveness, and risk management strategies.

Investor Deck

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Loss Control Documents

What We Need: A profile of your risk environment, including any anticipated changes in risks, such as changes in your company's operational footprint (like new geographic locations), recent or pending legislative changes impacting your risk portfolio, and upcoming or potential claim activity not identified in historical loss data provided.

‍Why We Need It: To help calibrate risks, captive coverage, focus, future opportunities, assuage state regulator concerns, financial planning, capital requirements, and future funding needs by providing a comprehensive understanding of the risks and potential exposures facing the business.

Loss Control Documents

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Third Party Risk Document Requests

Underwriting Guidelines

What We Need: Full underwriting guidelines and any other documentation aligning with the company's risk appetite, including details such as class limits, average and maximum insights.

‍Why We Need It: Underwriting guidelines provide a framework for assessing and pricing risks, ensuring consistency and accuracy in risk selection and pricing, which is essential for maintaining underwriting discipline, profitability, and solvency within the captive insurance structure.

Underwriting Guidelines

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Underwriting Rater

What We Need: Documentation typically used to price products, providing insights into the methodology, assumptions, and factors influencing premium calculations and underwriting decisions.

‍Why We Need It: Understanding the underwriting rating process helps evaluate the adequacy of premium pricing, risk selection criteria, and profitability assumptions, enabling informed decisions on pricing strategies, underwriting guidelines, and risk management practices within the captive insurance program to optimize risk selection, pricing accuracy, and profitability.

Underwriting Rater

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Actuarial Studies and Statistics

What We Need: Studies and statistics related to the company's product offerings, including actuarial analyses, loss projections, and statistical models used to assess risk and predict future claim liabilities.

‍Why We Need It: Actuarial studies provide crucial insights into the company's risk profile, loss experience, and expected claim payments, facilitating the development of accurate pricing models, reserve adequacy assessments, and strategic risk management decisions within the captive insurance structure to ensure financial stability, regulatory compliance, and long-term viability.

Actuarial Studies and Statistics

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Loss Controls

What We Need: Guides for claims handling and setting loss reserves, outlining procedures, protocols, and methodologies for managing and mitigating claims, as well as establishing appropriate loss reserves.

‍Why We Need It: Loss controls help establish effective claims management processes, ensuring timely and accurate claim adjudication, loss reserving practices, and risk mitigation measures, which are essential for controlling claims costs, preserving capital, and maintaining financial stability within the captive insurance structure, enhancing overall risk management effectiveness and claims handling efficiency.

Loss Controls

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Distribution Models:

What We Need: Documentation outlining the company's distribution models, including any new versus historic models, clarifications, and anticipated changes, providing insights into sales channels and market strategies.

‍Why We Need It: Distribution models help evaluate the effectiveness of sales channels, market penetration strategies, and distribution partnerships, informing decisions on product distribution, market expansion, and sales force optimization within the captive insurance program to maximize market reach, revenue generation, and customer satisfaction, aligning distribution strategies with the company's growth objectives and market dynamics.

Distribution Models

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Portfolio Performance

What We Need: Reports on portfolio performance, including loss ratio and underwriting performance metrics, with an assessment of future impacts on the loss ratio, explaining any anticipated changes.

‍Why We Need It: Portfolio performance metrics help evaluate the profitability, sustainability, and risk exposure of the captive insurance program, guiding decisions on underwriting, pricing, and risk management strategies to optimize portfolio performance, enhance financial stability, and achieve long-term profitability objectives within the captive insurance structure, ensuring alignment with the company's risk appetite and business goals.

Portfolio Performance

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