Captive is a key focus area for Vitec Insurance, and WIMS is specifically developed to ensure that self-insured organizations can operate legitimate and efficient businesses with minimal resources.
WIMS offers well-developed integrations with a variety of captive partners for claims management, accounting, reinsurance, and co-insurance. This enables efficient collaboration, smooth data flow, and high data quality.
Regulatory requirements from national and international authorities are becoming increasingly strict for captives as well. Managing significant assets with limited resources is a hallmark of the captive model — and WIMS provides complete control over policies, terms, and risk exposure.
Data capture from adjusters and internal staff, along with automated reporting to the national disaster pool, are examples of functionality within WIMS designed specifically to streamline daily operations in specialized captive organizations.
Risk management is strongly supported in WIMS, with comprehensive functionality for mandatory reporting to regulators and partners. The system also supports the establishment of required captive procedures, with full logging to verify that all mandated processes have been completed.