Marsh unveils AI-powered facility for cell captives
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Marsh LLC on Monday launched ReadyCell, a facility powered by artificial intelligence, to help organizations set up a cell captive within Mangrove Insurance Solutions PCC, the brokerage’s District of Columbia-domiciled protected cell company.
ReadyCell allows organizations of all sizes to form a cell captive within minutes and to insure a single line of coverage or a layer within a larger insurance program, Marsh said.
Any line of coverage and any amount of limit can be written by the cell captive. Businesses can also keep the cell captive on standby to assume risk when needed for up to 18 months, Marsh said.
“This is part of our overall strategy to drive innovation and lead the digital evolution of the captive insurance sector,” said Ellen Charnley, president of Marsh Captive Solutions.
ReadyCell uses Marsh’s insurance company-as-a-service platform, which is powered by AI. It has received conditional pre-approved regulatory licensing from the District of Columbia Department of Insurance, Securities and Banking.
