{"id":10957,"date":"2023-08-01T09:46:14","date_gmt":"2023-08-01T09:46:14","guid":{"rendered":"https:\/\/iqeq.com\/?post_type=case_study&p=10957"},"modified":"2023-08-01T09:46:15","modified_gmt":"2023-08-01T09:46:15","slug":"boutique-firm-operating-as-captive-manager-across-various-domiciles-struggling-with-recruitment-to-facilitate-growth","status":"publish","type":"case_study","link":"https:\/\/iqeq.com\/case-studies\/boutique-firm-operating-as-captive-manager-across-various-domiciles-struggling-with-recruitment-to-facilitate-growth\/","title":{"rendered":"Boutique firm operating as captive manager across various domiciles struggling with recruitment to facilitate growth"},"content":{"rendered":"
\n
\n

The client, their challenge<\/h2>\n

Our client was a U.S. based boutique firm operating as captive manager across various domiciles, namely North Carolina, South Carolina, Texas, Tennessee, Georgia, Bermuda and Cayman Islands. The firm services 25 captives, with a growing book of business and specialises in the design, structuring, implementation and management of captive insurance and other alternatives risk financing programs.<\/p>\n

The captive manager was struggling to recruit additional resources locally to cater for new business growth.<\/p>\n

Our solution<\/h2>\n

IQ-EQ\u2019s Professional Services Outsourcing (PSO) unit<\/a> proposed to assist with the additional work by structuring the assignment as a three-month pilot in order for the captive manager to assess PSO\u2019s deliverables.<\/p>\n

At the end of the short pilot, the captive manager decided to engage IQ-EQ, which started with half of a Full Time Employee (FTE). Since then, the mandate has grown to five FTEs on a dedicated basis, with the requisite qualifications and experience in the captive insurance sector. The PSO team ensures sufficient overlap with the U.S. time zone and assists with the day-to-day operations of the captive manager as an extension of its local team that allows the captive manager to focus on growing its business.<\/p>\n

IQ-EQ was able to extend our services beyond the accounting function. In addition to assisting with bookkeeping and preparation of financial statements, the PSO team also performs the following tasks:<\/p>\n