Product
The back office of a captive, run by the platform and reviewed by your accountant.
A baseline single-parent captive takes 300–400 hours a year to run. The rows below are where they go, and what CaptiveVerify does with each. Hours are estimates from public job descriptions and practitioner sources; the pilot measures yours.
Task by task
| Task | Est. hours / captive / year | In CaptiveVerify |
|---|---|---|
| Bookkeeping, bank and custodian reconciliations | 40–55 | Statements read and reconciled; journal entries and trial balance exported to QuickBooks or Sage Intacct |
| Audit support: PBC list, schedules, confirmations | 25–45 | Audit binder per fiscal year with hashes and gaps |
| Quarterly statement packages, management report | 28–40 | Close package per quarter; GL bridge for the statements |
| Document chasing (loss runs, statements, cessions) | 25–35 | Chase list per captive per quarter, dashboard, Monday digest |
| Board meetings: book, minutes, resolutions | 20–30 | Board package with a resolutions template |
| Renewal cycle: data for the actuary and the broker | 15–30 | Renewal data pack: triangles, development factors, large losses, changes since the prior valuation |
| Claims funding and loss-fund reconciliation | 15–25 | Paid losses to claim funding tie-out, exceptions |
| Premium accounting, installments, receivables | 12–20 | Installments to receipts tie-out |
| Fronting fee and cession statement reconciliation | 8–12 | Cession statements read; fee rate and net due checked against the agreement and tied to the bank |
| Cell and core allocations (PCC, series, sponsored) | 10–15 | Allocation rules per cost; schedules per quarter that sum to the cent; CSV |
| Federal tax support, 831(b) tests | 6–12 | 831(b) monitor: limit, headroom, loss-ratio tests |
| Premium tax return | 3–5 | Estimate from bracket schedules per domicile |
| Licensing, corporate housekeeping, deadlines | 3–6 | Calendar with sources, reminders, filing confirmations |
Intake
Documents arrive the way they already do.
Email to your firm's intake mailbox (Microsoft 365, under your own Microsoft agreement) or upload several at once. Allowed senders are your setting.
- Each file is screened, encrypted with your firm's own key, and classified to a captive, document type and period from its name or subject. Misfiled? Reclassify from the review page.
- Loss runs: CSV or the text layer of a PDF. Split paid and reserve columns, totals rows, right-aligned short rows, duplicate lines per claim merged for the ledger and kept in history.
- Bank and custodian statements: period found from the statement itself, roll-forward checked, receipts and disbursements categorised, claimant names redacted from memos before anything is stored.
- The chase list: what the quarter expects (loss run per captive per period, a statement per account per month) against what arrived, on the captive page, the dashboard and the Monday digest.
Review
Nothing reaches the ledger unapproved.
A clean file from a verified sender can be approved automatically if your firm chooses; everything else waits for a reviewer, with the findings listed and each one pointing at its row or page and line.
- Checks against the prior valuation: closed claims carrying a reserve, paid amounts that decreased, claims that dropped out, incurred not equal to paid plus reserve, loss dates after the valuation date, negative reserves.
- Large losses crossing the captive's threshold are notified once, in counts only, and kept in a register on the captive page.
- Every approval, rejection and view is in an append-only audit log; claim-level pages are logged as confidential views.
- Reviewers see the original (decrypted on the server, never downloaded to the mail provider) beside the extracted rows.
Close
On the captive's own fiscal quarters.
- Premium installments tied to receipts within a dollar or 0.1%; paid losses per the loss runs tied to TPA funding per the bank within $100 or 1%; unexplained receipts and disbursements listed.
- Exceptions carry the ids they are about and are tracked to resolution. A re-run keeps resolved exceptions and only clears open ones that no longer apply.
- Four-eyes sign-off: the person who prepared cannot sign the manager review. The close cannot finish with open errors or missing documents.
- Outputs: close package (auditor), board package (activity, claims by line with development, large losses, compliance position, premium tax estimate, 831(b) monitor, resolutions) and the audit binder (every document with its SHA-256, closes, filings, gaps).
Calendar
Every filing, with its source.
A rules library per domicile, each rule carrying its regulator document and a verified flag. Dates are relative to the captive's fiscal year end, so non-calendar years work.
- Owners per obligation, a My work view, filing confirmations, manual obligations (collateral, LOCs, business-plan changes), an ICS feed for Outlook or Google.
- Weekly digest to each owner: overdue, due in 30 days, documents to chase.
- The library is data, versioned with the code; a correction reaches every firm. Managers can add or waive an obligation for one captive.
Start with a quarter you have already closed.
Managers: two or three captives, one finished quarter, a fixed pilot fee credited in full against setup. Owners: tell us who manages your captive today and we take it from there. Nobody signs anything until they have seen the result.