Letters of Credit & Trusts Firm of the Year—Highly Commended

People’s United Bank

“The same level of service and responsiveness in support of our colleagues and clients will continue beyond this current crisis.”

Ian Davis

Senior vice president, captive insurance relationship manager

“The same level of service and responsiveness in support of our colleagues and clients will continue beyond this current crisis.”

Ian Davis

Senior vice president, captive insurance relationship manager

What is your unique selling point for clients?

People’s United Bank has been providing tailored financial solutions for the captive insurance industry for over 30 years. Our deep industry knowledge and commitment to understanding the challenges and opportunities faced by captives owners enables us to deliver advice and client-centric solutions that help organisations achieve their risk management and financing objectives.

We have a dedicated captive insurance team, and the close connections we have with our clients and industry partners foster collaborative relationships that deliver highly personalised service.

Being a part of People’s United Bank is an advantage. People’s United has the resources and advanced technology of a larger financial institution, but we still act like a smaller regional operation when it comes to responsiveness and reliability.

It is a pleasure to be part of a team like this, one with extensive experience in the captive insurance industry, and which is committed to being a partner to our clients, not just a service provider.

What additional changes would you like to see the industry adopt?

In terms of changes, I have been encouraged by our industry’s ability to pivot during this critical time to a full virtual environment, while simultaneously sharpening the lens through which we view and solve challenges for clients.

I expect that in many cases, the same level of service and responsiveness in support of our colleagues and clients will continue beyond this current crisis, in part because they have proved to be so effective. As a member of the captive insurance industry, I look forward to further normalising the innovations and best practices developed during this challenging time.

As the industry has evolved, what changes have you needed to implement to comply with regulatory matters?

The captive insurance regulatory environment continues to evolve. It is essential that we proactively educate ourselves, learn and remain current on change in compliance and regulations so that we can inform and guide our clients, not the other way around.

We are active members of the Vermont Captive Insurance Association and the Captive Insurance Companies Association, which lead the development of policy and regulatory updates, and we often lend our specialised knowledge and expertise in support of their efforts.

How have you changed and adapted to the ‘new normal’ of working?

The global health and economic crisis notwithstanding, the “new norm” has forced companies, including People’s United, to adapt and accelerate many important changes that have enhanced the way we conduct business.

Whether it is being more intentional about our outreach and engagement with the captive insurance industry, implementing new capabilities, technologies and services which benefit our clients, or even the renewed focus on a work-life balance—all have had profound impacts on how we do business.

What are the most important products and services you offer captives?

As a full-service financial institution, People’s United is a single-source provider of treasury management, financing, and customised investment management solutions to the captive insurance industry.

In this capacity, we have a broad view of our clients’ objectives and this allows us to be an active and trusted advisor that develops recommendations to address the full range of needs of captives owners.


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Photo by Alexander Schimmeck on Unsplash

US AWARDS 2020