Volleyball and Captives: Lessons from the Court

Saturday I watched my son play in a volleyball tournament for the better part of 8 hours — enough time to apply some of the principles to captive insurance.

Unforced Errors

When a team doesn't create their own mistakes, they usually win. Having an experienced team of administrators, legal team, and advisors in the captive space eliminates unforced errors in execution of your insurance company.

Playing Within the Lines

99% of the games, the action, and the process is played within the lines. Over the years, the captive insurance lines continually have become clearer and clearer to see. This allows better play within the lines. In fact, proper captive implementation and execution is easier now than ever before in history.

It is clear to see when the ball is out of bounds or players violate the rules. In the captive industry and specifically in each captive formed, there are rules and regulations that are followed, keeping the action on a level playing field.

The Referee

A good referee — the best referees — don't draw attention to themselves. They enforce the rules and are consistent, and therefore the match is not about them.

Different Skill Sets

Each player on each team has different skill sets and these skill sets are utilized differently. Every business is different, and as such, each business has different risks. The importance of those risks varies from company to company. Each business which implements captive insurance creates their own unique policy, protecting them in specific areas they feel most vulnerable to. The coverage is unique to their operating business.

Feed Your Best Asset

When the outside hitter is your best asset, the best way to gain points and eventually win is to feed him as often as possible. As business owners come to understand the power of captive insurance, they want to feed it as much as possible.

Communication

Simply by communicating to teammates, everyone knows who is going to play the ball. Assumptions lead to errors. Communication doesn't have to be long; however, communication is critical to keeping the entire team on the same page.

Mentality

Young men and women often don't realize how skilled they are. As they have success, the confidence is tangible as they can compete with anyone. Confidence and security carry a team through the challenges of an opponent and match. Insurance provides protection and greater confidence for potential significant financial losses. Insurance creates security and confidence.

Momentum

Momentum shifts throughout a match. Ignorance is a momentum killer. Education, understanding, and application eliminate ignorance and create positive momentum and execution. Financial loss to your business kills momentum. Insurance for that loss keeps the momentum going in a positive direction. Retained earnings of your own insurance company enhances momentum.

Volleyball is really a fairly simple game. Still, there are variables and intricacies which set individuals and teams apart. Sounds like captive insurance.