captive insurance process management

Risk Management Advisors Inc. Streamlines Insurance Policy & Claims Management

Use Cases:

• Policy generation and management
• Claims and correspondence management

The Results:

• Halved time to issue insurance policies  
• Centralized digital policy and claims documents in a searchable cloud
• Increased transparency of ownership and edits

Issuing insurance policies is a mission-critical task for captive insurance firms. When each client could have hundreds of insurance policies, the time it takes to issue each one adds up. In 2017, Risk Management Advisors partnered with Pulpstream to create new efficiencies that vitalized its captive insurance business.

The Partners:

Risk Management Advisors (RMA) is a national firm that specializes in the design, implementation, and management of captive insurance companies and self-insured plans. Based in Long Beach, California, RMA provides a comprehensive approach to managing risk and insurance programs for clients.

Pulpstream is a software platform that converts paperwork into digital process management solutions for enterprises. The low-code platform introduces efficiencies at scale, automating away the tedium and dissolving data silos to achieve operational excellence.

Before: Administering Insurance Policies Was Time Intensive

Before using Pulpstream to generate insurance policies, Sabrina Straley, Client Service Director for Risk Management Advisors, used a variety of tools. She used Excel spreadsheets to store premium and limit data, and Word to create insurance policy documents. Every new policy started a process that went from her desk to the accounting department and back to her. Depending on the client, this process could occur for one or hundreds of policies. The policies were stored in folders on an internal network that grew in size with each client. It took precious time to locate information, identify where it was in the process, and discern who needed to do what next.

After: Digitized Documentation In One Cloud Streamlined Operations

RMA collaborated with Pulpstream to digitize all policy documents and records, making the policy issuance process much easier and faster.

“It cut the time to do things in half, and now more than one person can work on something at the same time,” Straley said.  

When a policy needs to be created, Straley logs into Pulpstream and chooses the appropriate document from a digital catalog of bespoke policy templates. Upon creation, it becomes a record in a digital process automation that guides the document from stakeholder to stakeholder. It creates tasks and notifies the person involved. When they log in, they see tasks to complete on their customized home screen. Whether that’s obtaining a signature, or cross-referencing new policy data with old policy data, Pulpstream helps RMA employees get more done faster. Pulpstream stores all the records about all clients, their insureds, and their claims in one cloud. When a claim is filed or a policy is updated, the updates are time stamped and attached to the right policy.

Pulpstream Increases Transparency and Accountability

“It keeps everyone organized and accountable because you can see who has done what. If someone has initiated a claim or put a policy in the system, instead of asking around the office, I can log in to Pulpstream and look at the record,” Straley said.

RMA chose Pulpstream over other systems, because of its rich experience creating process management solutions for captive insurance consultancies. The low-coding feature of the platform was also a major factor. When a policy, business requirement, or employee changes, Straley can open her Work Stream Designer™ to redefine how the business process flows—without writing a line of code. She can simply drag a new component into the work stream to update the process.

“Not everything is set in stone; it’s easy to customize it to suit your needs. Compared to a lot of other CRM systems, it was really easy to use right off the bat,” Straley said.  

Her favorite feature is the search bar. RMA employees can search for a client keyword to locate specific information. Whether they are searching for a policy or a claim, the digital documents stored in their Pulpstream cloud are available any time, anywhere.

Self-Service Client Portal Connects Claims to Policies  

Pulpstream also built RMA a self-service portal that its clients can use to file a claim outside of business hours. They can login to Pulpstream on the web to initiate a claim, send correspondence to RMA, or add claim expenses to an existing record. RMA administrators can view the incoming claims, reply to their clients, and track the claim history from their Pulpstream dashboard. Additionally, they can issue payments and adjudicate the claims from the same screen, creating unprecedented efficiencies for everyone involved in the process. When the processes have arrived at the ideal outcome for all parties, RMA can use the digital records to produce loss reports and provide actionable insights to its clients.

Its digital insurance policy generation and claims process management solutions created new agility and transparency for both RMA and its clients. If market conditions, personnel, or regulations change, RMA’s technology core is poised to deliver exceptional service at digital speed.

To learn more about Pulpstream’s captive insurance and claims management solutions, contact us for a consultation.  

$2B Consultancy Streamlines Process Management in Record Time

New Work Streams™

• Risk assessments
• Field activity reporting
• Vendor invoicing
• Satisfaction surveys
• Contract creation


• Eliminated data entry redundancies
• Reduced service delivery time
• Freedom to work on tablets
• Real-time data reporting
• Operational resilience to change

When your group captive clients generate more than $2 billion in annual insurance premiums, modernizing your mission-critical software traditionally takes years. Captive Resources, LLC, partnered with Pulpstream to do it in 4 months.

Captive Resources is an independent consulting company that provides risk management, claims advocacy, and other services to group captive insurance companies. Based in Schaumburg, Illinois, its business processes are complex and unique to each client.

Dave Netti is Senior Vice President of Risk Control for Captive Resources. In 2015, a series of unfortunately-timed system failures inspired him and a team of four to modernize the company’s business process management software.

“When you have approximately 400 independent field consultants reliant on the system for their paycheck, failures and outages are highly impactful,” Netti said.

The Challenge: System Modernization

Multiple requirements needed to be fulfilled during the vendor exploration process. The software needed to accommodate more than 3,500 users and scale rapidly. It needed to be intuitive enough for people of all cultural identities to use, from tech-savvy millennials to baby boomers. Platform stability and security were critical to maintain client and customer confidentiality. Of utmost importance, the system needed to be customizable.

“When we were exploring vendors, customization was critical. Eighty percent of solution providers were eliminated after the first phone call,” Netti said. Communicating with other systems to perform mission-critical functions such as data analysis was a vital requirement, because a major goal was to eliminate data entry redundancies throughout the company.

Before Pulpstream, field consultants used multiple systems to complete business processes. Some used paper and Excel spreadsheets to capture information during surveys and risk assessments. Others used an old software system. Inevitably, many hours were spent entering data into the main system. The process was costly and time consuming, impacting service delivery time and the bottom line.

Results: Intuitive User Experience Mobilizes Team

Today, Captive Resources and the hundreds of independent consultants it oversees enjoy dramatically streamlined business processes. Surveys and risk assessments are completed on tablets. The Pulpstream native application automatically pushes data from mobile devices to custom web dashboards, showcasing real-time information to stakeholders.

From contract management to expense reimbursement, customized dashboards guide consultants through the most efficient sequence of tasks on whatever device they prefer. Consultants are even able to work offline.

“We found that the independent field consultants complete one to three assessments on their desktop computers, get comfortable with the software, then transition to tablets,” Netti said. “After they do one on the tablet, they never go back to desktop. The efficiency and ease of use saves them a lot of time.”

Code-Free Deployment Experience

From concept to launch, it took about four months to transition the company from its legacy software system to Pulpstream. Netti and the team simply handed forms to Pulpstream’s support team, who took the baton from there. New streamlined experiences empower colleagues to follow best practices, which reduces the chance of human error. Tailored reports give Netti and the team a 360° view of the enterprise. Without writing a line of code, Captive Resources can update consultant experiences to bolster new risk management strategies or adapt with marketplace demands.