eMaxx Assurance Group of Companies (eMaxx), an insuretech provider of insurance programme administration, risk management, and technology, has launched a new platform for its variable cost captive programmes.
Customers can manage their own insurance and risk management programmes via the platform, which was developed by eTechnology Services, eMaxx’s sister company. It gives customers access to insurance policies, programme documents and historical exposures, claims information, including access to the adjusters’ notes, real time billing information and payments functionality.
It also offers risk management capabilities, including telematics rankings, driver files management, market value reduction monitoring and online learning through eLive Connect.
Members of variable cost captive programmes can view their fund performance and profitability.
The platform will be made available to other insurance companies for licensing.
Michael Penza, president of Samuel Coraluzzo Company, said no insurance company in the market offers this technology. “It truly provides the tools that customers need today to manage its risk management and insurance programme,” he said.
James Townsend, president of Townsend Energy, added: “A variable cost captive programme, combined with this technology, provides the ability for my company to have control over the outcome of insurance costs.”
eMaxx acts as the sponsor of eCaptiv, a Vermont-domiciled captive reinsurance company that is organised to provide protected cells reinsurance support. Programmes today are focused on the energy industry and emergency roadside assistance providers that are affiliated with AAA.