Talisman Casualty Insurance Company Uses State of the Art Claims Technology

LAS VEGAS, NV / ACCESSWIRE / November 18, 2019 / Talisman Casualty Insurance Company, a business based in Las Vegas, Nevada, has announced that they don’t just use several claims management service providers for efficient claim processing but they also apply state of the art claims technology. This Talisman Casualty claims technology provides immediate feedback on the overall effect of a claim. Also, the time required to make adjustments can be reduced because of the simple aggregation of data within a cell captive.

A spokesperson for Talisman Casualty Insurance Company says, “We only give delegated claims authority to firms who have extensive claims management experience, know the local markets where claims are made and operate with the highest degree of ethics and integrity. Meanwhile, the efficiencies that technology can bring to the claims process can be streamlined within the cell, giving participants a high level of service.”

Talisman Casualty Insurance Company is a protected cell captive insurance firm in Nevada who serves the specialty insurance sector by offering protected cells to underwriters who have seasoned books of business and have a need for a regulated vehicle to transfer risk and direct access to capacity via reinsurance and alternative risk finance markets. They provide an alternative risk transfer option for property and liability insurance. The Talisman insurance policies and bonds are duly licensed, authorized and regulated insurance transactions in compliance with the laws of the state of Nevada. The bonds and insurance policies are made available to principals who become part of the captive as participants through a participation agreement and by becoming a shareholder.

The participants are able to gain access to international reinsurance markets so that they might be able to reduce their insurance costs and improve their coverages to fit their particular business objectives. All of the Talisman capital, reserves, surplus, and financial records are maintained based on the provisions and regulations of NRS Chapter 694 C on captive insurers.

They want to point out that the present insurance landscape continues to expand and still makes use of the same fundamental concepts of pricing risk using all available technical and historical resources. Meanwhile, insureds today want new ways to manage risk by having a bigger role in designing the policy. Protected cell captive insurance companies have emerged as the ideal solution to launch a new product or increase capacity in restricted markets. Through the creation of unique underwriting cells, the risk can be collateralized, segregated, and ceded while everything is in a legally ring-fenced structure. Many experts are of the belief that captive insurance companies are involved in half of the property and casualty insurance premium in the United States.

In fact, most S&P 500 companies have used captive insurance but its use is now much broader as insurance agencies, smaller companies, and associations partner with existing captives.

Talisman Casualty Insurance Company offers all of the required infrastructures to benefit from the Protected Cell model. Despite the fact that the process of creating captives can be quite difficult and similar to the licensing procedure for a normal commercial insurer, there are a lot of cost-saving benefits from utilizing a captive structure. The insureds would be able to gain direct access to the international reinsurance markets. This allows them to negotiate pricing based on the experience of a certain small to a midsize book of business or even be able to find capacity for a new concept. Claims can be managed efficiently within the cell and security can be structured in such a way that little to no risk remains. Each one of the unique protected cells of Talisman Casualty Insurance Company functions as separate business units and has the flexibility of being adjusted quickly to achieve the best kind of underwriting.

Meanwhile, they offer a program business solution because it is ideal for the segregated cell insurance structure. This is because models can be tested within the cell. Also, the ease and flexibility of changing the underwriting methodology, risk management, and risk ceding permit the customization of the programs.

Those interested in Talisman casualty licensing and insurance can visit their website or contact them on the phone or through email.

For more information about Talisman Casualty Insurance Company, contact the company here:

Talisman Casualty Insurance Company
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117

SOURCE: Talisman Casualty Insurance Company

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