Spring Wins Two of Captive Review’s 2019 Awards

We are incredibly excited to announce that the Spring team had a great night this past Monday at the CaCaptive Review Award Winner 2019ptive Review awards reception in Burlington, Vermont.

Spring took home the award for Employee Benefits Specialist of the year, and our Senior Consultant, Prabal Lakhanpal, won the Emerging Talent award for service professionals.

Our team works tirelessly day in and day out to deliver the best, research-driven and innovative service to our clients, with the goal of always producing tangible results. All of our staff is encouraged to participate in educational and industry related events and organizations so they can continue to build their skills and knowledge, and Prabal is a prime example of this development and growth. Always at the forefront of employee benefits and how they intersect with captives, we are constantly thinking outside-the-box to help clients fund competitive benefits packages that makes sense for their organization, its culture and its risk profile. This has been a particularly strong year for us, and we thank Captive Review for the recognition.

Spring to Speak in 3 Sessions at DMEC Annual Conference

As a long-time sponsor and advocate for the Disability Management Employer Coalition (DMEC), Spring is excited to continue our involvement in this year’s annual conference.

The event, which takes place from August 5-8 in Washington, D.C., will bring together around 500 professionals in HR, Benefits, Disability and Absence Management fields, and is sure to be a thought-provoking and fun few days. This year, Spring team members will be featured a few times on the conference agenda:DMEC Annual Conference

  • Launching Your Organization’s Self-Audit Checklist: Tuesday, August 6th, 3:35PM
    Senior Vice President Teri Weber will be running this short quick-dive session, which will guide audience members on effectively conducting an internal compliance audit.
  •  The RFP Process: A Deep Dive: Wednesday, August 7th, 2:30PM
    Teri Weber and Senior Vice President Karen English will be joined by clients on this panel that outlines the who, what, and the how of conducting an RFP. Best practices and case studies will be shared.
  • Got ROI?: Thursday, August 8th, 9:30AM
    In this general session, Karen, Teri and Disability Management professionals from Baystate Health Systems and Chevron will speak to how to determine if an absence management program is producing ROI. The audience will be left with a framework to overcome common challenges and learn from the success of large employers.

So, if you are heading to the DMEC Annual Conference, be sure to catch us at one (or all!) of these sessions, and say hello to our team at booth #312. We promise good conversation and fun giveaways!

Spring to Speak at VCIA 2019

Our team has long been involved with the Vermont Captive Insurance Association (VCIA), an organization that has done much to advance the captive industry in one of the country’s strongest captive domiciles. The VCIA Annual Conference is a hot event in this sphere, bringing over 800 professionals together each year in Burlington, Vermont to share their experienceCaptive Insurance and learn from each other.

This year, not only is Spring an exhibiting sponsor at VCIA, but our Managing Partner, Karin Landry, will also be leading a session, Association Health Plans & Captives: New Regulations, New Opportunities. This advanced session will feature a panel and will cover why Association Health Plans (AHPs) came to be, the shifting regulatory landscape around them, where that leaves us today, and an employer case study that ties in captives. The session will represent multiple perspectives: the consultant, the attorney, and the insurer.

The presentation will take place on Wednesday, August 7th from 10-11AM. We hope you can join, but if not, be sure to say hello to our team at booth 44 at VCIA!

Spring to Present at RIMS 2019

This year the annual Risk Management Society (RIMS) conference is in our neck of the woods, which is very exciting! We are looking forward to playing host and showing colleagues and clients around town.

RIMS is one of the most renowned events in the risk management and insurance spaces, for which we have been proud sponsors and participants for over a decade. This year, we are delighted to not only be a sponsoring exhibitor, but to be speaking as well. Spring’s Senior Actuarial Consultant and Property & Casualty Practice Lead, Peter Johnson, will be leading a session, “IBNR: Your View Versus the Actuary’s” on Tuesday, April 30th from 1:30-2:30PM. He will be joined by Lynn Tenerowicz, Vice President and Chief Risk Officer at Baystate Health. The pair will be doing a deep dive on Incurred But Not Reported (IBNR) claims, covering:RIMS 2019 Speaker

  • Term definition
  • The differences between your view as the employer and an actuary’s on reporting and calculations
  • Different reserving methods and their pros and cons
  • IBNR industry trends and benchmarks across different coverage and benefit lines
  • Loss development methods
  • The effects of claim frequency and severity
  • The impact of IBNR on a company’s financials

The presentation will include a case study and plenty of graphics to help paint the picture for you. This session is great for risk and claims managers of all industries, or anyone simply looking to learn more about financials.

We hope you can make it! But if you can’t, please be sure to stop by booth 579 to chat with our team throughout the 3-day event.

CICA 2019: Preparing for the Future by Learning from the Past

Event Recap

We are off the heels of another great Captive Insurance Companies Association (CICA) annual conference. This year, I was happy to escape Boston’s cold and head to Tucson, Arizona from March 10th-12th for a few days learning, networking, and as you see here, some impromptu sight-seeing. CICA 2019This was Spring’s 12th year attending and being involved with the CICA event, and I wanted to share what we view as the key takeaways and over-arching theme of the conference: preparing for the future – captives and otherwise.

It’s true what they say, that you can’t figure out where you’re going if you don’t understand where you’ve been. So before we dive into the future-focused learnings of CICA 2019, we can set the stage with “Captive History: Lessons Learned Through the Years”, where a panel of “Michaels” led the audience on a trip down memory lane. They started with the 1920’s, brought us to the first captive in 1950s, and landed where we are now, with over 6,000 captives in existence worldwide. They covered key lessons learned from factors such as:

  • Corporate globalization
  • Domicile specialization
  • Access to internet

And others.

A number of sessions around regulatory and tax updates help illustrate the current captive landscape, such as “Regulatory Hot Topics”, “Captive Tax Developments – What They Are and What They Mean”, and “Addressing the Extra-Domicile Regulatory and Premium Tax Risks”.

Now that we’ve addressed the past and present, I believe the true emphasis at CICA this year was the future. Here are all the ways in which this theme came into play.

The Next Generation

The captive industry has a range of talent thought leaders and experts, but a fair amount of attention went to making sure the next generation is prepared to take over.

  • In “Shaping the Captive Leaders of the Future”, Courtney Claflin of the University of California and John Prescott of Johnson Lambert highlight the importance of recognizing an aging workforce and reacting accordingly. Among other advice, they recommended campus recruiting, internship programs, emerging leader programs, and data and technology as recruiting methods.
  • During “Succession Planning: Has Your Company Begun?”, a panel offered training and development best practices as well as on-boarding and transition guidelines.
  • “Keys to Succeeding as a Young Professional in the Captive Industry: Mentorship” was another discussion centered around bolstering the younger workforce demographic for not only successful careers, but for a strong industry as well.
  • CICA has always been focused on education, so it’s no surprise that students had a seat at the table at the conference. Specifically, one session spoke to bridging the gap between the classroom and the office environment, while another served as a spotlight on Butler University’s student-run captive.

The Geo-Political Landscape

The captive industry, and the insurance industry at large, are among those that can be most impacted by changes in the political and/or environmental climates. Thus, in speaking about the future, these areas were important to reflect upon.

  • A session led by Jason Flaxbeard, Jim Bulkowski and Eric Bishop spoke to changes in US tax reform, technology, corporate governance, cyber and more to emphasize the dynamics at play. They then speculated whether these new risks can be seen as an advantage, a danger, or both for captives.
  • During “The Political Climate and the Future of Captives”, the audience was led through some “Hotspots of 2019”, such as Brexit, the substance requirement for captives, and Association Health Plans. For each scenario, they outlined key lessons to be taken by captive and risk professionals.

Innovation

If we as an industry can’t continue to innovate as the industries around us do, I don’t need to tell you that the outcome won’t be great. The following topics shed light on how captives can adopt creative strategies for future growth.

  • Spring’s Managing Partner, Karin Landry, led a panel discussion on the opportunities for integrating workers’ compensation and disability through a captive. This is an emerging trend which we see larger employers moving toward, and the session offered strategical advice and case studies revealing tangible results of an integrated approach.
  • One Captives 101 session spoke to captives themselves as vehicles of innovation, stressing their importance for a stable and blossoming organization.
  • Andrew Rennick and Ryan Ralston presented innovative solutions for micro-captives, which have recently taken some press hits. Enterprise Risks, Extended Warranties and Product Recalls were some of the use cases they went through.
  • We can’t talk about the future and captives without mentioning cyber, can we? One session reviewed an AM Best and Guidewire Cyence Report to educate the audience on breach expenses, cyber market growth, and modeled carrier portfolios.
  • Speaking of topics trending in the industry, Steve McElhiney of EWI Re spoke to blockchain technology and its ties to captives through a case study. He listed several potential captive blockchain examples, such as exposure management, medical captives, and RRGs.

 

All in all, the conference was certainly valuable for industry professionals of all types and levels of experience. Myself and the rest of the Spring team are already looking forward to next year’s event, and putting these recent learnings to work!

Spring to Speak at 2019 CICA International Conference

The Spring team is excited to once again break from Boston’s cold winter and head to Arizona for the 2019 Captive Insurance Companies Association (CICA) annual international conference, which takes place from March 10th to 12th in TucsonCICA 2019 Conference

Spring has been involved with the annual CICA event for over a decade, and has acted as a sponsor, exhibitor, and speaker in the past. This year, Spring’s Managing Partner, Karin Landry, will be leading a session, “Getting Smart with Lost Time: Integrating Workers Comp & Disability”, on Monday, March 11th at 2:15 PM. The discussion will center around the advantages of integration between programs and the related trends, challenges and approaches. We will also cover optimization and impacts on various stakeholders. Several case studies will demonstrate cost savings opportunities as well as the different strategies available. The audience will leave with a framework for implementation and be able to draw upon real-life examples and best practices from large, leading global organizations.

We hope you have the chance to stop by Karin’s session, or at least find one of our team members amidst the workshops and networking opportunities to chat in person.

 

Spring to Speak at World Captive Forum 2019

We’ll be packing our bags for sunny Florida soon enough! Spring’s Managing Partner, Karin Landry, will be speaking on three different panels at this year’s World Captive Forum.

The three-day event will run from January 30th to February 1st in Turnberry Isles, Florida and we expect a great turnout of employers, regulators and service providers alike, all there to share their experiences and perspectives.World Captive Forum 2019

Karin will lead the following sessions:

  • State Regulation Again! Time for a Fresh Look! from 10:45-11:45 AM on January 31st. She will be speaking alongside Joseph Holahan, Attorney at Morris, Manning & Martin, LLP about the varied regulatory issues facing the captive industry today. They’ll be looking at Washington state and others who have passed recent tax regulations related to captives, and fleshing out how captive professionals can move forward.
  • US Benefits – It’s a Better Year from 1PM to 2PM on January 31st. Karin and David Slenn, Partner at Shumaker Loop & Kendrick LLP, will discuss benefits captives – where they stand today and where they’re headed. They will specifically address updates from the Department of Labor (DOL) and share a case study to bring the topic to light.
  • Stop-Loss in Captives from 2:15-3:15PM on January 31st. In this session, Karin will be joined by Steve Kroll of International Capital Investment Company and Tom DeNoma of Nationwide to discuss the growing trend of stop-loss captives and best practices in doing so. They will represent the employer, insurer and consultant viewpoints.

Spring has been to the World Captive Forum several times and always finds it to be a strong indicator of industry hot topics. Karin is excited to learn and share her knowledge. Not to mention she’ll get to escape from the Boston cold! If you’ll be in Florida too, don’t forget to catch a session (or two or three) or Karin’s and say hello.

Spring to Exhibit at Yankee Dental Congress 2019

Our team is excited to head to the Yankee Dental Congress in Boston’s Seaport from January 30th to February 2nd. As a long-time broker and partner for hundreds of Massachusetts Dental Society (MDS) members, this event has always been a rewarding way to meet with small business owners and vendors in the dental arena. In fact, this will be Spring’s 10th year in a row being involved with the Yankee Dental conference, and we are thrilled!

Captive Insurance

The four-day event is sure to bring the best and brightest in the field, drawing a crowd of almost 20,000. We look forward, as always, to this networking and learning opportunity. If you will be at the conference – which takes place at the Boston Convention and Exhibition Center – please stop by booth 2234 and say hello! We will have plenty of fun giveaways, as well as information about the services we offer to so many of the area’s dentists (among others).