We relate our findings to competition cases in digital markets. The share of initially captive consumers therefore has a non-monotonic effect on the investment levels of both firms and on consumer surplus. Bringing connectivity onboard could mean breaking the walled-garden of the airline retail portal and opening the passengers to the wider internet and sellers. On the other hand, the fact that a firm's initially captive consumers can still be attracted by very high quality introduces a pro-competitive element: a high investment becomes more profitable for the underdog when the captive segment of the dominant firm increases. On the one hand, the existence of initially captive consumers introduces an anti-competitive element: holding fixed the behavior of its rival, a firm with a larger captive segment enjoys a higher payoff from not investing at all. Above this threshold, a firm is visible to all and the highest investment attracts all consumers. If both firms invest below a certain threshold, they only compete for those consumers already aware of their existence. **Questions will be reviewed by the DCIA Board of Directors prior to the session.We study a game in which two firms compete in quality to serve a market consisting of consumers with different initial consideration sets. This will be an interactive session where DCIA members will have the opportunity to submit questions to Mr.
Members Only Q&A Session with Steve Kinion Self-Insurance Institute of America (SIIA)ĭepartment of Insurance Regulator Sessionĭirector, Bureau of Captive and Financial Insurance Products
#Captive market game not working update#
This update will provide the latest on captive issues and advocacy activity before Congress, Treasury and the IRS, including impacts of recent and upcoming tax court cases, congressional tax reform discussions, state and federal activities, and what to expect down the road. A leading industry expert will provide an update on the regulatory/legal environment for ERCs and what this may portend for market activity in the years ahead. These captives have also come under scrutiny by the IRS, leading to questions about their long-term viability.
#Captive market game not working code#
(SIIA)’s development of a captive manager Code of Conduct to address a perceived lack of oversight of captive managers.Įnterprise Risk Captives (ERCs), otherwise known as 831(b) and/or microcaptives, have been one of the fastest growing segments of the captive insurance marketplace over the last few years.
With the ever-increasing scrutiny and challenges faced by captive managers from regulatory intrusions by the IRS, legislation on Capitol Hill, the state legislatures and the courts, what can (or should) be done within the industry to ensure that captive managers operate at the highest level of competency and ethical standards? This session will look at the pros and cons of self-regulation, including looking into initiatives by the Self-Insurance Institute of America, Inc. Should Captive Managers be Subject to Regulatory Oversight? Finally we’ll explore how being good at the latter can help with the former and some lessons we can learn from tech companies.
Then, we’ll understand what people mean when they talk about “big data”. We’ll play an interactive game to learn how machine learning works. Yet, despite the many offerings available, no insurance companies (and certainly no captives) have implemented ML and seen returns different than the rest of the market. Putting in the Work: Building the Foundation to Get Value Out of Machine LearningĬompanies like Google and Facebook are dominating their industries by using machine learning (ML).
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