Q&A: Big Ticket’s Ken Fraser and Rob Bartlett

Fresh from winning Insurtech Solution of the Year at the Captive Review US Awards earlier this year, co-founders of Big Ticket Ken Fraser and Rob Bartlett talk to Captive Review about the innovative new insurance platform, and why it is so relevant to captives

 

Welcome, and congratulations on your recent award win at the Captive Review US awards. For anyone unfamiliar with Big Ticket, could you please give us an overview of the company and background on how it came to be formed?

Ken: Thank you, it’s a real honour to be recognized. Big Ticket was formed out of the simple realization that the renewal process is broken. It doesn’t work well for anyone—clients, brokers, insurers—and especially not for risk managers who are tasked with making sure every detail is captured accurately and shared across the board. After years of working within the industry and seeing the same inefficiencies play out repeatedly, we wanted to build something that would transform how exposure data is handled. What we’ve created is a platform that allows data to be shared securely and updated in real time, eliminating the redundancy and frustration that many face each year.

Rob: We also wanted to build something that’s neutral and scalable. The problem with a lot of tech solutions in insurance is that they tend to serve one part of the process or one group of stakeholders. Big Ticket is designed to sit at the center and benefit everyone involved—from the client to the broker to the insurer—creating what we call a ‘golden thread’ of data that’s consistent, secure, and always up-to-date.

 

Can you explain the challenge many multinationals have with their annual renewals and how Big Ticket seeks to address this problem?

Ken: The challenge is essentially that renewals are a huge time drain. For a large multinational, it’s not uncommon for the renewal process to take upwards of nine months. By the time you’ve finished this year’s renewal, you’re almost immediately starting next year’s. A big part of the problem is the over-reliance on spreadsheets and manual processes, which leads to data inconsistencies and inefficiencies.

Big Ticket fixes this by maintaining a continuous, real-time risk registry. Clients no longer need to start from scratch each year, updating and validating their data. Instead, they simply keep their data updated on our platform, and when renewal time comes around, everything is ready to go. It’s about making the process less reactive and more proactive.

 

Specifically, why is this offering particularly beneficial to the captive insurance industry?

Rob: Captives are in a unique position because they often handle complex, multi-line risks that require highly customized solutions. That complexity makes the renewal process even more challenging. What Big Ticket does is help captives maintain a single source of truth for their data, making sure it’s clean, consistent, and secure throughout the renewal process. This is crucial when you’re dealing with multiple stakeholders and jurisdictions, which captives often are.

Another major advantage for captives is the ability to handle all of their lines of insurance in one place. Instead of managing multiple systems or platforms for each line, Big Ticket centralizes everything, which saves time and reduces the chance of errors.

 

What risk managers are using the Big Ticket platform and how is it benefiting their risk programs?

Ken: We’re currently working with a range of risk managers across industries, from large multinational corporations to mid-sized companies in the US and Europe. They’ve all been vocal about how Big Ticket has reduced the time and effort they spend on renewals, but more importantly, how it’s helped improve the quality of their data.

For example, risk managers often struggle with keeping track of complex exposures across different locations and markets. Big Ticket not only simplifies that process but also provides real-time visibility into their risk profile, which is a game changer for planning and decision-making.

Rob: The feedback we’ve received is that it’s more than just a time-saver. It’s helping risk managers gain a deeper understanding of their exposures, and that insight is allowing them to make better strategic decisions about how they allocate capital and transfer risk.

 

In your mind, is the captive industry responsive enough to the opportunities presented by technological innovations?

Ken: I think the captive industry is beginning to recognize the potential, but there’s still a gap between awareness and action. The problem isn’t a lack of interest in technology—it’s about how ready an organization is to adopt new systems and processes. Captives are unique in that they’re often more agile than traditional insurers, but at the same time, they tend to be cautious about change, especially when it comes to data security and governance.

Rob: What’s encouraging is that we’re seeing more captives willing to experiment with innovative solutions like Big Ticket. The industry knows that technological advancements—particularly around data—are critical to improving efficiency and accuracy. It’s just a matter of overcoming some of the ingrained processes and embracing a more modern, data-driven approach.

 

What could captive owners accomplish with a greater understanding of the data they possess?

Rob: Captive owners stand to gain a lot from deeper insights into their data. First and foremost, they could significantly improve risk mitigation strategies by understanding their exposures in real-time. Right now, many captives rely on periodic snapshots of their data, which means they might miss emerging trends or risks that need immediate attention.

By having a greater understanding of their data, captive owners could also optimize capital allocation. They can see exactly where their risks are concentrated and make more informed decisions about how much capital to hold and where to allocate resources. That level of insight can also lead to better underwriting and reinsurance decisions, ultimately improving their bottom line.

 

How has Big Ticket grown and enhanced its offering since launching last year?

Ken: Since our launch, we’ve been focusing on expanding our platform’s functionality while maintaining the core principles of neutrality and security. We’ve added new features that allow for greater customization, especially for clients with complex, multi-line programs. We’re also continually enhancing the platform’s integration capabilities with other systems, making it easier for clients to pull data from their own enterprise resource planning (ERP) tools or other internal systems.

Rob: We’ve also grown our client base and have brought on more global Advisory Board members, which has given us valuable feedback to fine-tune the platform. A big part of our growth has come from listening to users and adapting the platform to better serve their needs.

 

Are there other ways the platform could develop to help captive owners and risk managers with their greatest needs?

Ken: Absolutely. One area we’re looking at is expanding into new lines of insurance beyond property, which will bring even more value to captive owners. Another exciting area is payments. We’re working with Mastercard to streamline payment processing and reconciliation, which is currently a huge pain point for the industry. Once we have the digital rails in place, moving money internationally, aligning payments with exposures, and automating reconciliation will become much easier.

Rob: We also see a lot of potential in analytics and artificial intelligence. By providing richer data insights, we can help captives not only react to risks but also anticipate them. That’s the next frontier—turning data from a static resource into a dynamic tool for proactive risk management.

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