The “Norm” or, as Better Defined, “the Abnormal Approach” to Insurance Expense Management
The average insurance consumer has been lured into approaching the purchase of coverage like buying gasoline, electricity or any other commodity. Who helped establish this flawed approach? Insurance agents and companies.
The typical insurance agency is what might be termed a “bid and quote” shop. Typically three or four agents agree to get in line and are assigned three carriers each by the business owner, only to regurgitate the same commoditized result at a price they hope is better than that of the next agent. This ultimately takes the control of selecting your agent, one of your most important allies and business partners, out of your hands and puts it into the hands of the insurance carrier. How? By forcing you to pick the agent who is given the best “quote” by the assigned carrier. Does this give you the best-qualified risk manager or agent? Probably not.Does this help you in reducing or preventing the direct, and more importantly, the in-direct costs incurred when claims occur? Never.
The Alliance Group’s Approach to Insurance Cost Management
Workers’ compensation (WC) is vastly different from one scenario to the next and from one business owner to the next. After establishing a historical perspective on your business, evaluating the present state of your operation and exploring your 5-to-10 year business plan, TAG begins the Insurance Cost Management and Recovery Process (ICMR™). This process allows us to review your present WC program and identify unknown risks and threats to your business.
Whether you are faced with an Experience Modification Rate (EMR) that is spiraling out of control or just a large increase in your WC premium that is supposedly unavoidable, we can help. No large premium charge related to your WC policy is unavoidable or cannot be explained and managed. There is always an answer for why your WC premiums are so high and a corresponding solution.
Through the ICMR™ process we identify all — and there may be many — of the issues causing your premium to sky-rocket. Applying our years of WC experience, expertise, training, accreditation and our considerable resources, we will assist you in consistently driving your WC expenses down to the lowest possible level. In many cases, this will result in a reduction in WC expenses of 20% or more.
Insurance Cost Management & Recovery™ Process
The Alliance Group is a division of Optisure Risk Partners LLC