If you’re not excited *yet* about insurance regulation, this episode is for you!
Matthew Queen and I uncover the often underestimated impact of insurance regulation on the global economy. In this podcast, we learn the importance of the legal structures of societies, and what SEZs like Próspera can do to improve them.
Insurance is a peculiar product. It’s purely digital. It’s math about risks & probabilities.
It is an important backbone of the global economy, not only for people to have a fallback when they’re experiencing misfortune, but also for businesses to manage risk.
Risks abound for businesses, in a changing world. However, no external firm can assess your risk better than yourself - which is where captive insurance comes in: you can insure your risk yourself.
Captive insurance is a sophisticated financial risk instrument for companies.
Matthew Queen provides insights into the regulatory barriers for captive insurance, and how different jurisdictions are currently enabling the formation of captive insurance companies.
The regulatory dynamics offer potential for small, nimble and digital jurisdictions like Próspera to offer efficient alternatives. There is a balance between regulation and innovation in the insurance market - it’s a market not naturally attuned to small companies to disrupt easily because of large capital requirements.
This episode is a valuable resource not only for insurance entrepreneurs navigating industry complexities, but for any entrepreneurs with the ambition to build multinational companies to whom captive insurance can be a powerful tool.
More about Matthew’s work:
Ep. 73: Matthew Queen on Pillars of Modern Risk Management: Insurance, the Impact of Regulation and New Domiciles