The platform features technology, product development, marketing and sales support. Credit: eMaxx Insurance Services, LLC.

eMaxx Assurance Group of Companies has expanded its platform for insurance companies to foray into variable cost captive market.

The platform features technology, product development, marketing and sales support. It can also provide administration and undertake quota share excess of loss (XOL) reinsurance.

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Insurance firms deliver fronting, excess XOL reinsurance, claims oversight and independent agency network, eMaxx noted.

eMaxx CEO Brian McCarthy said: “Variable cost captives are the fastest growing sector of the commercial insurance market and there is high demand for alternative risk captive programmes.

“Commercial Insurers can enter the alternative risk market quickly and provide their independent agency partners a branded product within months instead of years.”

Last month, eMaxx introduced its customer centric technology platform for variable cost captive programmes.

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The customer centric platform acts as a centralised source for customers to manage their insurance and risk management programme.

It offers access to insurance policies, programme documents, historical exposures, claims details and real-time billing data. The platform also enables payments.

Variable cost captive programmes members will be able to view fund performance and profitability.

Risk Management capabilities are telematics ranking and score cards, driver files management and eLive Connect online learning platform.

For insurance companies, eMaxx can build and deliver support for homogenous, heterogeneous, single parent and enterprise captives.

eMaxx is the sponsor of a captive reinsurance company, eCaptiv, which offers support for protected cells reinsurance.

Apart from eCaptiv, eMaxx operates eMaxx Insurance Services, eRisk Solutions and eTech Services.