CICA Membership Profile

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Milo Austin Bradford
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Publications CICA Members From how to start a captive to operational best practices and current issues in the captive industry, CICA s publications provide valuable information to beginners and

and 27 countries around the world that are eager to exchange ideas and share solutions.

Captive Best Practices Lays out the significant components and appropriate actions needed to run a captive most effectively.

Captive Best Practices II Provides captive owners and captive regulators with best practice guidelines regarding what they should expect from their service providers and how they should measure their

Online Resources Members can quickly access the best of the industry online as well. Compare domiciles or find a captive industry service provider with CICA s easy-to-use online tools.

environment. CICA has several very good manuals that have been very useful to me.

1 Publications CICA Members From how to start a captive to operational best practices and current issues in the captive industry, CICA s publications provide valuable information to beginners and well-established members of the captive industry. CICA s members represent a cross-section of captive/risk retention and service provider members from across the U.S. and 27 countries around the world that are eager to exchange ideas and share solutions. Captives An Overview Covers topics such as reasons a captive is advantageous, learning how to start a captive, and how to run a captive all in an easy to understand format. Captive Best Practices Lays out the significant components and appropriate actions needed to run a captive most effectively. These high-level principles are broad enough in scope to provide latitude in how they are applied. Captive Best Practices II Provides captive owners and captive regulators with best practice guidelines regarding what they should expect from their service providers and how they should measure their performance. Captive Market Study Annual study tracks the value and use of fronting and purchase of reinsurance by captive insurance companies. Online Resources Members can quickly access the best of the industry online as well. Compare domiciles or find a captive industry service provider with CICA s easy-to-use online tools. CICA Connect is an online community that allows members to utilize open or limited discussion groups on timely relevant topics where they can share questions and ideas with fellow members in a secure environment. CICA has several very good manuals that have been very useful to me. They helped me frame corporate governance models for some of my clients, and helped the captive owners see what they should be expecting of a captive manager. ~ James Rawcliffe, Vice President Sagicor Insurance Managers Ltd., CICA member since 2010 CICA offers individual memberships with the flexibility to fit your business objectives. Once a primary representative is designated from your company, additional representatives may join at the deeply discounted Affiliate Member rate. CICA Membership Profile 47% 22% Member Type Captive/Risk Retention Captive/Risk Retention Affiliate Service Provider 3% 16% Service Provider Affiliate Honorary & Retired 12% Risk managers are expected to see around corners to identify risks and recommend strategies for captive excellence in the face of those risks. The experience of participating in CICA education sessions and networking with fellow CICA captive owners and managers gives me that competitive edge. ~ Sarah Pacini, Vice President, Risk Management and Insurance, Advocate Health Care Network CICA member since 2007 Join Now Join now to connect with the best businesses in the captive industry and save on access to valued CICA programs and publications. Captive Insurance Companies Association AN ADVOCATE AROUND THE WORLD A VALUABLE CONNECTION TO THE CAPTIVE INDUSTRY A RESOURCE FOR CAPTIVE BEST PRACTICES REFERENCES 1) Business Insurance Market Insights: Captive Managers and Domiciles 2013 Premium Edition Directory 2) Fitch Ratings, Ltd. Asian Reinsurance Markets: Fall in Regional Natural Catastrophes; Huge Growth Potential Aug ) Business Insurance Market Insights: Captive Managers and Domiciles 2013 Premium Edition Directory Building a Stronger Voice. Supporting Industry Growth.

Your Domicile-Neutral Industry Advocate Monitoring and Taking Action Captive insurance companies have long been known for their creativity and innovation.

1 Further, previously slow growing markets such as Asia are now viewed as having huge growth potential for reinsurance.

2 Your Domicile-Neutral Industry Advocate Monitoring and Taking Action Captive insurance companies have long been known for their creativity and innovation. That initiative and a recovering marketplace are leading to continued growth in the number of captive insurance companies with over 6,000 licensed captives listed worldwide in Further, previously slow growing markets such as Asia are now viewed as having huge growth potential for reinsurance.2 CICA s expanding advocacy program educates regulators on the value of the captive industry, dispels misinformation and supports continued industry growth. By monitoring emerging issues and regulatory changes in the U.S. and around the world, CICA and its advocacy partners can respond proactively to help mold laws and regulations that affect the captive industry. The growing captive market is also facing increased uncertainty and competition. The impacts of Solvency II in Europe, the changing regulatory landscape in the U.S. and the increasing numbers of domiciles in the U.S. are not yet clear.3 Correcting Misperceptions About Base Erosion and Profit Shifting CICA and the European Captive Insurer and Reinsurer Owner s Association (ECIROA) have partnered to challenge the inaccurate assumptions in the Base Erosion and Profit Shifting Report by the Paris based Organization for Economic Cooperation and Development (OECD). Work on this issue continues with outreach expanding to include additional organizations involved in the issue. One thing is clear: CICA has emerged as an advocate around the world, a valuable connection to the captive industry and a resource for captive development. CICA continues to leverage its domicile neutral status to forge collaborative relationships and a stronger, more impactful voice for the captive industry. Over 40 Years of Industry Leadership The Captive Insurance Companies Association (CICA) was formed in the early 1970 s by a handful of U.S. captive owners to discuss problems relating to their relationship with fronting companies and reinsurers. Today, as the only domicile-neutral captive insurance association, CICA is uniquely positioned to foster collaboration across the various captive domiciles and with captive owners, captive managers, service providers, and regulators, who all come together under the CICA umbrella to work in partnership to protect the captive industry and speak with a common voice. CICA has partnered with many domicile associations in the U.S. and around the world and recently facilitated the creation of the Captive Association Leadership Council. Captive Association Leadership Council One step toward developing a stronger voice for the industry involved creating a forum, known as the Captive Association Leadership Council. The Council, comprised of all captive domicile associations, CICA and related industry associations, will regularly discuss issues that impact the entire industry (on shore, off shore, international) and the development of industry-wide positions. The Captive Association Leadership Council will meet annually at an in-person meeting in conjunction with the CICA International Conference and by conference call as needed. Input to Congress on the U.S. and Global Reinsurance Market CICA partnered with the National Risk Retention Association (NRRA) and six U.S. domiciles to provide input regarding the viability, stability and solvency of the reinsurance markets. Impact of the Nonadmitted and Reinsurance Reform Act on Captive Insurance Companies CICA outlined its support for the current state based regulatory system in the United States and cautioned that more detailed examination was needed before the NAIC recommends that U.S. regulators should follow international standards. Maintaining Tax Benefits CICA actively tackled attempts by the U.S. Internal Revenue Service to limit the tax and deductibility benefits of captives. CICA and the Vermont Captive Insurance Association (VCIA) formed a broad-ranging coalition and provided the leadership in convincing the IRS to withdraw its proposed regulation on consolidated returns, thus making it possible for captives to retain opportunities for tax deductibility. Sometimes it s hard to stay on top of all the moving parts affecting the captive industry as we re preparing for the future. CICA is always keeping an eye on regulatory matters or other changes that could impact us along the way. In the event another issue comes along that could have a large impact on the industry, the bigger the voice we have through CICA the better. They re always there to partner with and represent its members and fight for the industry. ~Patrick Theriault, managing director, Strategic Risk Solutions, CICA Member since 1999 Make CICA Your First Call To find out more about issues affecting the captive industry and how you can help strengthen the industry s voice, visit cicaworld.com Join With the Best of the Captive Industry CICA provides its members access to the best of the captive insurance industry. Whether you re a captive owner considering forming a new captive or looking for a competitive strategy, or a service provider who wants to connect with key captive owner decision makers who can purchase your services: CICA provides valuable relevant information with significant member discounts. Education CICA International Conference the most important alternative risk education and networking event draws the largest percentage of captive representatives of any industry conference. CICA is committed to providing the best networking, education, and advocacy for captive and risk retention professionals. Make CICA part of your business strategy by joining in on the industry s only domicile neutral international conference. CICA Fall Webinar Stay up to date on the hottest industry news without having to travel by attending our fall webinar. Networking Share ideas and solutions Members are constantly exploring new ways to broaden the use of their captives, to increase flexibility in program design, to stabilize long-term program costs and to increase access to both domestic (U.S.) and offshore reinsurance capacity. Share your point of view Members have opportunities to speak, publish articles in CICA e-newsletters and online, publish papers and offer their viewpoint to the industry. Investing in Industry Education In addition to CICA s education programs, CICA actively supports professional credentialing through the International Center for Captive Insurance Education (ICCIE), which offers the industry s only professional designation, the Associate in Captive Insurance (ACI). CICA president, Dennis Harwick, is an active member of the ICCIE board and CICA has been a strong financial supporter of ICCIE. Captive Insurance Companies Association AN ADVOCATE AROUND THE WORLD A VALUABLE CONNECTION TO THE CAPTIVE INDUSTRY A RESOURCE FOR CAPTIVE BEST PRACTICES

3 Background In response to member interest in a private online community to discuss industry business issues, CICA invested in an excellent system, HigherLogic. This enabled the organization to create CICA Connect a private online community and new member benefit. To make it easy for members to participate, all members were entered into CICA Connect before the launch. Like many online communities members who join a community receive updates when new information is posted or someone replies to a post. The community was launched in April 2012 and promoted through member s. A bonus prize was offered to the first 5 members who earned 500 engagement points. As of today only three participants have earned 500 engagement points. In order they are John Hernic, Ken Arguello and Mike Mead. A review of the first 18 months of member participation shows very limited member engagement in the CICA Connect online community and thus, limited return on CICA s technology investment. CICA Connect quick stats In the 18 months from April 2012 to early October 2013, 39 participants started 42 conversations that generated 41 replies for a total of 83 postings 66 of the 83 postings occurred in two of the nine discussion groups o General Discussion 40 postings o Captive Owners 26 postings The results demonstrate a reality of online communities. Unlike Field of Dreams, members don t come just because the association created an online community. Singular actions such as a launch campaign or promotion of a program/ event rarely lead to measurable increases in growth or activity in this type of community. For CICA Connect to grow and thrive so it can truly become a membership benefit, requires establishing good processes for creating ongoing engagement and consistently generating new information. CICA Members Value Networking Online communities can be valuable networking tools. The 2013 CICA membership survey showed that: 52% of respondents say they join CICA to establish or maintain networking connections 75 % of respondents said they use social media tools for networking. LinkedIn rated the highest, with 17% of respondents saying they go to LinkedIn daily. Note: most captive and risk management groups on LinkedIn are also private groups. Only 38.5 % said they are satisfied or very satisfied with CICA Connect 44.2 % weren t able to comment on CICA Connect 17.3 % somewhat or not satisfied Action Plan to increase member engagement in CICA Connect It will take time and dedication but CICA can engage members in CICA Connect and the CICA Board can play an important role in getting this process started. Rather than one big activity such as a launch, at this point it s more important to have a consistent series of smaller activities. 1

4 Action #1 Leverage CICA events Events such as CICA s upcoming fall webinar or the international conference provide an ideal opportunity to create new content and engage members online. Promote attendance by having leaders post messages inviting members to join them at the webinar Include a call to action in webinar closing remarks to encourage webinar participants to continue the webinar conversation on CICA Connect Ask presenters to comment about the webinar, seek additional questions through CICA Connect Review registration list in advance and identify 2-3 members and ask them to volunteer to help invigorate CICA Connect by asking additional questions, spurred by the webinar presentations Action #2 - Assign dedicated leaders to be regular content contributors CICA Board members are natural ambassadors for the organization. Your active participation in CICA Connect helps demonstrates to members that CICA leaders are engaged in conversations on current topics and actively listening to members. Based on current engagement statistics for CICA Connect, each post generates approximately one additional comment. A commitment by each board member to sign up for a month time-slot and post one message a week would more than double member engagement in CICA Connect! For Board members who need a refresher you can access the how to manual via the CICA website. The manual provides screen shots and directions. You can also contact Jackie or Amy at the CICA office. They post regularly for CICA and can help answer questions you may have. Identifying topics Identifying content topics doesn t have to be time consuming. Post a comment about an industry news story that caught your attention that day/week Post a comment or ask a question about a new study that s been released Jot down the top three issues you are wrestling with in your company and ask members for input or how they re addressing the issue Post a comment recognizing a member who provided valuable advice or feedback to your comment or someone else s post Ask members to share the best advice they ve heard through their networking activities this month Link to a helpful comment a member made in another social media channel such as LinkedIn Comment on CICA s advocacy efforts Board posting schedule MONTH Nov Dec Jan Feb Mar April 2014 May 2014 June 2014 July 2014 Aug Sept CICA BOARD MEMBER 2

5 Action #3 Identify additional strategies to grow participation in CICA Connect Staff will actively monitor results of leader participation in CICA Connect and identify additional strategies to grow participation within three months. Action #4 Measure results Consistently measuring activity such as responses, topics of highest and least interest, is important to building the value of CICA Connect. CICA staff will monitor and provide quarterly and annual updates and make any necessary recommendations to take advantage of trends. 3

Annual Impact Report. Professional Education Legislative Advocacy Industry Networking

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