Since 1999, Innovative Captive Strategies (ICS) has been creating, managing, and marketing group captives that are more exclusive than the typical mega captives in the marketplace. That means our captives have fewer and thoroughly vetted members. The result of our captive model is greater control for our captive owners, higher engagement amongst the members and better results. Today, we manage over 35 group captives that serve a variety of industries. While the broader appetite for the P&C group captive marketplace has remained consistent over the last 20 years, our newest group captive solution expands into the market segment of sustainability and offers unique benefits to our captive owners.
Impact More Than Just Your Bottom Line
Impact Re, Ltd. was formed on January 1, 2023, in collaboration with Zurich North America and consists of like-minded business that keep risk management top of mind but are also committed to reducing their carbon footprint through environmentally friendly and sustainable innovation in their operations. Impact Re is a group captive insurance company that brings together safety minded companies who share a common goal of rising above their respective industry standards of sustainability.
ICS has built its reputation around creating captives with higher engagement and more control with a peer group experience for its captive owners. This leads to loss ratios that out-perform the industry standards. We are now taking that same model that has led to so much success in loss prevention and adding the focus of sustainability through the expertise of Zurich’s world-renowned Resilience Solutions team. In addition to the normal vetting procedures for ICS captives, each potential member of Impact Re will go through a sustainability assessment prior to joining the captive. The sustainability assessment will provide a starting point and road map on their journey to improve their carbon footprint.
In the typical group captive, members participate in either the Risk Control, Finance or Underwriting Committee. The committees dive into their respective topics and make educated business decisions and recommendations to the Board of Directors from a governance standpoint. Impact Re adds Sustainability as an additional committee that will focus on environmental innovation and sustainability efforts that will measure, benchmark, and ultimately improve the sustainability impacts of the captive member companies.
Innovation at its Finest
On top of leading the way in sustainability efforts, Impact Re was most recently selected for a Business Insurance Innovation Award. The awards program, which is in its 14th year, recognizes innovation in products and services provided to professional risk managers.
Out of 70 nominees, a panel of professional risk managers selected 12 winners to take home this coveted award. In addition to being featured in the September issue of Business Insurance, the award winners will be recognized at the U.S. Insurance Awards on July 19 in New York.
Have a Sustainable Impact on Your Organization and the Environment
Impact Re is currently accepting new members who are looking to enhance their environmental impact. The group is even hosting a Founding Members’ Meeting in September. For more information on how you can improve your risk management and sustainability efforts with Impact Re, reach out to me at firstname.lastname@example.org for more details.