Know Your Insurance Broker ROI

Whether it is office equipment, vehicles, manufacturing processes, or employee hiring, every business decision you make carries an ROI (return on investment).

Isn’t it time to determine what the ROI is on your insurance program?

Now, you may think the ROI is measured simply by the premiums you pay. Nothing could be further from the truth!

Know Your Insurance Broker ROI

Here are some questions to consider:

What is the value of your broker’s consulting projects? - Most brokers show you their services as Value Added Services. But, what is the value? What is the quantifiable outcome? Or, did we even get any consulting projects other than insurance selling?

How much has the broker's claim reduction programs reduced your costs? - Telling you that future insurance premiums will be reduced is not satisfactory. They should quantify cost reduction results from the "frictional" cost of your suffered losses. If they are unable to do this, you are likely being underserved.

Unless you include the items above in your assessment, you are receiving an incomplete picture. You are basing an important decision on the insurance costs; not the ROI of the services you require and/or received.

As a Analytic Broker™, we are able to demonstrate what your current ROI is and what it should be with a proper risk management program in place. We have the data and metrics that will let you determine how your program is either improving or draining your financial performance.

The first step? Contact us today to know the ROI of your existing program. We'll provide a no-obligation assessment so you can make the best decision for your business.

Contact us today

Start a Conversation

Did this article strike some interest? If so let's start a conversation by submitting the form below and we can show you how we can deliver results.

Copyright © 2019 Assurance Partners, TCORCalc®, Analytic Broker, and Analytic Brokerage are registered trademarks of C.R. Ekern & Company, Inc.