Captive insurance is a form of self-insurance where a company forms its own insurance company to provide coverage for its own risks. This approach can offer a number of benefits, including cost savings, improved risk management, and greater control over the claims process. Additionally, captives can also provide access to reinsurance markets and allow companies to participate in the underwriting and investment income of the insurance company. Additionally, captives can also provide additional revenue streams by insuring other businesses. Overall, Captive insurance can be a valuable tool for companies looking to manage their risks in a more cost-effective and efficient manner.