Creating ‘a win-win situation’ for clients

Captives.insure’s Luke Renz discusses the merits of the captive insurance industry.  

Luke Renz recently joined Captives.Insure, a Tennessee-headquartered and award-winning captive consultancy. He is a captive consultant at the firm, which he joined in October, 2023. 

Here he tells Captive international about his job, the firm and why got involved with captive insurance. 

What is your current role with Captives Insure? 

I provide consultation services to our broker partners and insureds on the captive structure, flow of funds, financial projections and the unique turn-key role of our programme. Many of our traditional broker partners do not specialise in captive insurance and rely on the knowledge and expertise of Captives.Insure to explain the captive structure. We assess the risk profile of the client to determine the appropriate structure that will ultimately allow them to retain as much premium as possible. 

What is it about captive insurance do you enjoy most? 

The alignment of interest - being able to provide needs-based solutions for high performing businesses that may be having challenges procuring coverage or that are just tired of burning money in the standard market. We aim to give the client back as much money as possible, not just charge a premium. The ability to present a solution that provides the insured with cost-effective control over their insurance programme is a win-win situation. 

Is there anything that has surprised you about the industry? 

While the need and interest is high, the expertise and specialisation is low within the captive sector. Obtaining the ACI certification, meeting our key trading partners and attending captive conferences across the country have been paramount in providing the expertise needed to present to our clients and broker partners.  

What has been the best thing about joining Captives.insure? 

Captives.Insure is a leader in the captive insurance sector and the recipient of many awards in the captive sector. Working with the team at Captives.Insure has allowed my professional development to expeditiously exceed expectations. Our broker partners are excellent to work with and allow us to have a mutual interest in doing what is best for our clients. 

What goals have you set for 2024? 

We have myriad goals set for 2024 and beyond. I look forward to becoming a leader in this sector and adding additional lines of business within our programme, increasing the total gross written premium, and continuing to expand and provide industry leading solutions for high performing brokers and insureds across the world. 

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