Navigating insurance complexities is challenging, but at ReNu Insurance, we simplify it with our comprehensive, three-phase approach. From evaluating your captive insurance potential to continuous risk management, our process is designed to optimize and protect your business at every step.

Phase 1: Evaluation and Assessment

Evaluate if a Captive Insurance Solution is Right for Your Business

In this phase, we help you understand if transitioning to a captive insurance model makes sense for your company. This involves an initial evaluation and assessment to determine if a captive is the right fit.

Includes:

• Initial consultation to discuss your current insurance setup
• Educational materials on captive insurance
• Preliminary evaluation of your insurance needs
• Assessment quiz to determine suitability for a captive

Phase 2: Audit and Preparation

Comprehensive Audit and Underwriting for a Smooth Transition

Once you decide to explore a captive, we conduct a thorough audit and underwriting process. This phase ensures all necessary documents and practices are in place to present your business in the best light to captive insurance committees.

Includes:

• Detailed underwriting and audit process
• Compliance checks and documentation review
• Identification of risk management gaps
• Development of a risk management improvement plan
• Preparation of an executive summary for the captive presentation

Phase 3: Prevention and Containment

Continuous Improvement and Risk Management

After being accepted into a captive, we provide ongoing support and consulting to help manage and mitigate risks. This phase is about maintaining and improving risk management practices to ensure long-term success and profitability within the captive.

Includes:

• Implementation of risk management strategies
• Regular reviews and updates to risk management plans
• Ongoing consulting and support
• Quarterly and annual risk management assessments
• Continuous monitoring and reporting on claims and losses