PEABODY, Mass.--(BUSINESS WIRE)--eMaxx, a tech-enabled specialty provider of variable cost commercial property and casualty insurance programs, entered its fourth year of operations as a program administrator reaching a significant milestone of $100M of in force premium for its captive programs. eMaxx’s managed captive programs have seen an over fifty percent reduction in frequency, which has resulted in the reduction of severity of claims. This has been a direct impact of the Company’s approach with the utilization of risk management technology combined with program structure.
“Reaching this milestone in eCaptiv’s fourth year of operations speaks to the premier captive insurance program that we have created”, Mike Penza, Executive Vice President, Samuel Coraluzzo & President of eCaptiv PC1-IC, eMaxx’s largest group captive program. “We continuously are looking for and offer unique ways to enhance our captive program awarding cost savings to members, which makes eMaxx a captive program like no others.”
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.
“Our customers are aligning their own interest by desiring ownership, accountability and transparency in their own insurance program,” Brian McCarthy, CEO, eMaxx. “Customers not only control their own claim experience but they have greater incentive to improve loss control and workplace safety.”
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. eMaxx will be hosting their Annual Risk Management Summit from October 20th-23rd at the Ritz Carlton South Beach in Miami, Florida. The Summit combines education focused on industry trends that are impacting customers today and the Annual Meetings for the captive programs.
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.