Göta Lejon get risk control with FlexSure
We have one of the most advanced IT systems for captives in Europe today!
Försäkrings AB Göta Lejon is a captive insurance company that coordinates insurance coverage in Gothenburg Municipality with the goal of keeping the cost of risk as low as possible. Operations include extensive reinsurance procurements, with insured objects such as real estates, businesses, trams, buses and more.
Before FlexSure, records of policy holders and objects were handled in limited database systems like many captive companies do. Information was almost exclusively available to those who gathered it, resulting in flawed overviews and unclear routines for compiling information to reinsurers.
”Being able to gather and manage large amounts of information and to keep track of risks is of vital importance to captives,” said K-G Berglund, CEO of Göta Lejon. “The big advantage with FlexSure is therefore – apart from its powerful risk management – the decentralized information gathering in which all information is consolidated in a central database that everyone can survey.”
The system also has highly developed BrandSite web portal modules, enabling single policy holders to report claims and incidents online. Göta Lejon works with four third-party loss adjustment companies that manage claims and payments directly in the system in a similar manner. Each respective adjuster is only given access to the information needed for their work.
Mantacore has been incredibly perceptive and easy to work with. Our structure differs from that of common casualty insurance companies in many ways, an example being single policy holders with 1.400 insurance locations, so the system has been adapted to our unique needs.
All in all, this means that everyone in the insurance chain, from policy holders to reinsurers, is now able to keep track of events in real time. Everyone gets a clear view of risks, while the heavy work of compiling reports has been minimized. Recently Göta Lejon leadership decided to continue to secure their future business by upgrading to the new generation of FlexSure.