Implementation of InsuBiz
for US Risk Retention Group

STICO Mutual Insurance Company, RRG was formed in 1988 in response to the growing impact of the lack of pollution coverage available in the insurance market to tank manufacturers at that time. As the market for pollution-liability insurance has softened over the intervening years, STICO has continually evolved to meet the needs of its policyholders, thus enabling STICO to provide a reliable and cost effective liability insurance product delivered by its team of expert underwriters and claims handlers.

Better the Devil you know

Risk Retention Groups have a unique role within the US captive space, making it difficult to find one database to support all their underwriting, compliance and operational processes. STICO were using various electronic and manual systems to support their workflows and were looking for one solution which could provide them with functionality that was flexible enough to adapt to their requirements and would further enhance their operational controls.

"We have struggled for years to find a policy- and claims-management system that was the right fit for us."


Needed a solution for the RRG market

Having met InsuBiz at the CICA conference in 2015 and seen a small demonstration of the functionality, Colin Donovan, President of STICO Mutual was intrigued by this straightforward system and the strange Europeans who had developed it. Various calls and meetings followed as we learned more about Colin’s business and its needs from a software solution.

“There are systems that are designed for agencies and ones for very large insurance companies (with a price tag to match). We are neither”


Leap of Faith

STICO knew that making a decision on InsuBiz meant taking a giant leap of faith to work with InsuBiz, a new entity in the US market. Yet, whilst they had spoken to other US based software providers, none could quite deliver the system InsuBiz offered.

“Our systems have always been like a very ill-fitting shoe. With InsuBiz, we believe that we’ve finally found a system that’s “just right.”

Industry Captive
Segment Risk Retention Group
Size Population 80.000 / 542 M2
Customer Since November 2015
Primary Use
  • Underwriting
  • Claims Handling
  • Reporting
Why InsuBiz
  • Flexibility
  • Specifically adapted for Risk Retention Group needs
  • Ongoing support
  • Partnership approach
InsuBiz is an off-the-shelf standard solution.
Easy to implement and being continually developed for all our clients.
Roy Kilpatrick CEO InsuBiz LTD


is completely adapted to the RRG market

Using the original InsuBiz functionality, our solution has now been enhanced to support the Sales, Underwriting, Claims Handling and Reporting needs of the risk retention group marketplace. With all data on one secure database, InsuBiz now supports the STICO team across their workflows, reducing time spent on routine administration and ensuring all operational controls are adhered to.

From the initial underwriting and quotation stage, through policy and invoice issue to full claims management and settlement, InsuBiz is perfectly adapted to the challenges that running a risk retention group can bring.

“The interface is clean and simple – yet it has the necessary brawn behind it to provide all of the functionality necessary for running our business.”

Users Claims imported Policy Recs Imported Key features
6 adm
100 xnet
1000+ 2500
  • Sales CRM
  • Rating engine
  • Policy document creation
  • Claims Management
  • Regulator reports
  • Compliance
InsuBiz was very helpful in solving the challenges that often come from implementing new systems.

The conversion proved to be both smooth and successful.
Colin Donnovan President Stico Mutual

Adaptation to a new segment of users

The implementation took place in April 2016. Part of the process was for InsuBiz to convert the historical data for each of the over +1,000 claims, along with the corresponding documentation as well as loading the current policy information and premiums into the system.

All this with a focused thought on adapting to the needs of RRG customers.

"InsuBiz is also flexible enough that we can customize it for our needs so that it can grow along with us.”

A Partnership Approach

The partnership between the STICO Mutual and InsuBiz teams has benefitted all parties involved. STICO now have a cost-effective solution which allows them to hold and manage all their data and InsuBiz have learned invaluable lessons about the risk retention group market. Knowledge which will assist us in moving forward in the US.

“We trust you and that you will give us a good system”

  • Risk Retention Groups have specific needs. Some can be as complicated as a traditional insurance company, but we believe that with input from the STICO team, we have built a software solution that is fit for purpose for all risk retention groups. A strong foundation, with the flexibility to grow and adapt to the needs of an individual RRG delivers a full cycle policy administration solution to this complex market.
It is still too early to quantify the benefits STICO are seeing from the implementation of InsuBiz and we continue to work closely together.

Updates will follow. In the meantime, STICO are happy to provide references as to the quality of our work and our solution should you be interested in seeing how InsuBiz can help your business.

Benefits To be

We have a solution for all Captives and RRGs.
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