At the UK Captive Services Awards 2015 held in London on 22 January, AIG triumphed for its 'Innovation in Fronting,' where candidates are judged on their problem solving expertise, international capabilities, and their ability to tailor fronting programs to suit the needs of clients.
The annual UK Captive Services Awards recognize and reward captive insurance service providers that have demonstrated exceptional customer service and innovative product development over the last 12 months. Last year, AIG won the 'Best Customer Service in Fronting' award.
What is fronting and captive insurance used for? Say you’re a multinational company with operations in 30 countries. In 10 of the countries, you need insurance from a locally licensed company, yet your captive insurer – which insures risks only for your parent company and its subsidiaries – does not have a license in these countries. Fronting and captive insurance can provide these needed local policies and pass the risk back to your captive.
AIG's award submission focused on its strength in better addressing clients’ needs, driving continuous service improvements, and creating long term value for clients.
Salil Bhalla, Head of Global Fronting, EMEA Global Risk Solutions (GRS) accepted the award on behalf of AIG, accompanied by colleagues Glenn Ellis, Global Fronting Underwriter in the UK – GRS; Steve Liberda, Deputy Manager, Global Fronting UK – GRS, and Nuno Antunes, Head of GRS, EMEA.
The winners were announced at a dinner and presentation ceremony in London, held as part of the Captive Live UK 2015 Conference. Captive Live UK is aimed at risk management and captive insurance professionals, and presents the opportunity to learn how risk managers are innovating to get the most from their captives and benefit from best practice advice.
AIG was an exhibitor at the conference, and was represented through the GRS, Multinational and Client Engagement teams, who showcased live demonstrations of AIG tools, including:
- Beyond Insurance
- My AIG Portal
- Multinational Programme Design Tool
AIG experts also presented as part of various panels and roundtables during the event, showcasing the team's breadth and depth of knowledge on the following topics:
- When to add new lines to a captive – Salil Bhalla
- Claims - Managing corporate culture to reduce loss – Steve Eckhardt, Chief Claims & Operations Officer, EMEA
- Round table - Global Programmes – Stephen Morton, Multinational Centre of Excellence Manager, EMEA
- Run-off - How to avoid a dead end – Daniel Sammons, Deputy Manager, Alternative Solutions, EMEA