Aside from year-end tasks and holiday events, ‘tis the season for insurance renewals. You’ll likely be meeting with insurance brokers soon to determine the right risk management program for your business in 2022.

In the past, you’ve explored coverages and premiums.

This year, you can (and should) expect better for your business and your financial statement. There is likely a sizable sum of unfunded expenses that your business absorbs that are not covered by the insurance carriers. This Financial Leakage is a direct result of the unbudgeted impact that accompanies each claim event you experience. Lost productivity, brand damage, and the cost of replacing equipment are a few examples of these expenses.

Unfortunately for your organization, these expenses are typically not discussed in the renewal process, leaving you without the ability to measure the effectiveness of your insurance program properly.

You deserve to know much more than the basics of premiums and coverages. The true costs of your risk management program go much deeper than that.

Here are Four Critical Questions you should ask your broker during renewal:

1. What is the impact you have had on our business results (profits, EBITDA, budget accuracy) over the last year?
2. What impacts should we expect inside our cost structure in the coming year?
3. What risk management projects will you implement in the coming year to reduce our cost structure?
4. How can we quantify your impact using benchmark data and key metrics.

As a Certified Analytic Broker, we are uniquely qualified to answer these questions for you during a complimentary consultation. We’ll attach our answers to your key metrics and help you measure your organization’s cost structure in 2022 and beyond.

Best of all, we’ll develop a data-driven plan to help you measure and recapture these controllable costs to improve your business performance in 2022 and beyond.

2022 is right around the corner, and you’re likely busy planning for it. Soon, you’ll use important metrics, benchmarks, and KPI’s for strategizing. Knowing where you stand financially is critical to measuring your success and setting future goals.

You should expect your insurance broker to operate at the same level, using key metrics to quantify their performance on your behalf.

Sadly, most brokers use obsolete benchmarks established in the 1600s to quantify their effectiveness: exposure, rate, and premium.

Without a modern way of quantifying their performance, your current insurance broker is likely holding your business back from optimum performance.

If you want to pinpoint the financial impact of your risk management program, you’ll need to understand your cost structure fully.

Here’s how you can do that: Ask your current broker to:

1. Provide a financial measurement of their performance. How has their work helped you meet your business challenges? If so, which challenges? And by how much?
2. Tell you what your REAL costs are. These costs should include the Financial Leakage that exists inside your cost structure (the unbudgeted expenses of claim events) as they’re absorbed by your organization.
3. Provide a detailed plan for reducing your costs in 2022. Make sure your broker translates these costs into your key metrics, such as EBITDA, margins, or surplus impact. Also, make sure this plan is implemented and assessed regularly.

If your current broker is unable/unwilling to meet these requests, you’re likely dealing with a broker who is simply selling you an insurance program.

Your business deserves better. To move your risk management program into the future of data-driven outcomes and ROIs, contact us today. We’ll provide you with a complimentary cost analysis and key recommendations to help you meet your operational goals in 2022 and beyond.

Did you know that financial leakage inside your Risk Financing and Risk Control Program can add an additional 40% to your premium cost?

It’s true. This is not a drill.

Every time you have a claim event, a business disruption occurs, and the impact ripples inside your entire business model. The negative impacts show up in lost productivity, strategic position, and any brand damage you may incur.

By the way, your insurance carrier DOES NOT pay these indirect costs. YOU pay them from your capital, EBITDA, and margins.
So...

To improve your business results, here are THREE CRITICAL STEPS you should take to ensure you’re not hemorrhaging capital from your financial statement:

1. Identify the amount and source of your financial leakage. Most insurance brokers can’t do this, but we are uniquely qualified and trained to analyze your current Risk Control Program to determine if you are being well-served.
2. Develop a long-term strategy to mitigate these unwanted costs. We deploy specialty resources designed to lower the severity, frequency, and additional expenses associated with major claims events.
3. Measure your progress. Knowing and attacking Financial Leakage is a team effort, and you must keep tabs on the progress. As a client, we’ll provide regular scorecards to show you how your business has been impacted.

Remember…

These controllable Financial Leakage costs need to be identified, contained, and recaptured as soon as possible to protect your business from unnecessary expenditures.

So, contact us today! As an Analytic Brokerage, we are among the select few insurance brokerages in North America that can help you recapture these expenses. We’ll conduct a complimentary cost assessment of your existing Risk Management Program, measure your Financial Leakage, and show you what you can do about it!

Warning!

You may be paying 30 - 50%* more for your Risk Management program than you plugged into your budget and forecasts. Sure, you may have accounted for your program’s premiums and deductibles, but did you add in the Financial Leakage that attacks your profits?

Financial Leakage is your largest uncovered risk and ripples through your organization after a claim. Financial Leakage shows up in lost productivity, reputational damage, and the business disruption that large claims cause. All organizations: large, medium, or small (for-profit or non-profit) suffer from the slow drip of Financial Leakage.

Insurance does not cover these costs. YOUR organization pays them.

Here’s what we’ll do for you:

1. We’ll analyze your current Risk Management program and identify areas where Financial Leakage is eroding your financial statement.
2. We’ll propose an executable action plan with our specialty resources to “plug the holes” and address your Leakage problem over time.
3. We’ll continue to monitor your Financial Leakage and Total Cost of Risk and provide you with an annual scorecard so you can see the results of our efforts on your behalf.

Here’s what you’ll get:

1. Improved margins, EBITDA, and additional capital for investment.
2. A more accurate representation of your Risk Management Program (and the costs) so you can budget accurately.
3. The business intelligence you deserve to strengthen your financial decision-making.

As Analytic Brokers, we have the tools, insight, and analytics to quantify your Financial Leakage. Once we’ve established a comprehensive financial assessment, we’ll help you work toward shoring up these unchecked expenses.

To see what we can do for you, please contact us for a complimentary Financial Leakage Assessment.  You might be surprised to see how much profit you’re currently leaving on the table.

In this new economy, it's critical that businesses reduce their frictional costs. To protect your margins, you must uncover the hidden expenses inside your cost structure. Without knowing this information, accurate forecasting is tough to achieve.

One place to look is inside your Risk Control Program. Chances are, your business is absorbing significant Financial Leakage due to claims events. This leakage is the unfunded expenses that are NOT paid by the insurance carrier.

Each time a claim occurs, the Financial Leakage impacts ripples throughout your operation via lost productivity, operational disruption, management interruptions, and more.

Reminder: your insurance carrier DOES NOT pay these unwanted expenses. YOU pay them from your capital, EBITDA, and margins.

To Fortify Your Financial Performance, you must:

1. Identify the amount of your Financial Leakage. Most brokers can’t do this, but as Analytic Brokers™, we are uniquely qualified to analyze your current Risk Control program to determine if you are being served properly.
2. Develop a long-term strategy to mitigate these unwanted costs. With our data-driven approach, we deploy specialty resources designed to lower the frequency and additional frictional expenses associated with claims events.
3. Measure your progress. Knowing and attacking Financial Leakage is a team effort, and you must keep tabs on the progress. As a client, we’ll provide regular scorecards to show you how your business has improved.

As a Certified Analytic Brokerage™, our firm is one of the few in North America able to provide you with quantifiable results during this important process.

We’re financial partners to our clients and work diligently to improve their performance and results.

To see what we can do for you, please contact us for a complimentary assessment of this recapturable Financial Leakage that is eroding your margins.

All organizations suffer from the negative impact of unchecked Financial Leakage regardless of size (large, medium, or small) or type (for-profit or non-profit.) You incur these hidden expenses when an insurance claim ripples through your organization, resulting in lost productivity, hampered growth, and operational disruption.

In fact, unchecked Financial Leakage is your largest uncovered risk. It’s also a significant unbudgeted drain on your organization’s financial performance. And digging deeper, these costs are NOT covered by insurance carriers… YOUR organization pays them.

While most insurance brokers won’t (or can’t) address your Financial Leakage, our firm is uniquely qualified to pinpoint these critical costs AND develop a plan of action to recapture them.

Here’s how it works:

Step 1: Identifying and quantifying these hidden frictional costs! That’s where we can help. As Analytic Brokers™, we have the tools, insights, and analytics to identify and measure these hidden costs on the road to recapturing them.

Step 2: Recapturing your Financial Leakage. Once we’ve established a comprehensive financial assessment, we’ll help you shore up and recapture those expenses by creating a plan of action. Our team and specialty resources are dedicated to reducing your claim costs and Financial Leakage.

Don’t be under-served by your existing broker. If they’re unable to help you curb this 30%-50% of additional risk financing expense, you need an upgrade. Our firm is dedicated to being a financial partner to our clients with an eye on improvement.

Contact us today for a complimentary Financial Leakage Report! You might be surprised to see how much profit you’re currently leaving on the table and how we can help you regain your footing as the economy continues to evolve.

It is called “The Hard Market,” and if your insurance broker is not talking to you about it now, you will experience its wrath shortly. On top of all the other challenges of 2020, you can expect a SIGNIFICANT increase in your insurance prices on renewal.

Put simply, the cost of your insurance is going up tremendously, while your ability to obtain certain coverages is diminishing. We won’t take the time to explain all the “why’s” today. But, unless you make plans now, you can expect quite an unwelcome surprise shortly.

Here is the good news: There is a way to take much of the pain out of the pricing increase. It requires working with a broker who understands how to negotiate the insurance marketplace AND deliver the necessary resources to reduce your expenses.

Most brokers only address one thing: the price of insurance. Unfortunately, this year’s comparison will likely lead to a negative outcome.

That is not good enough for a smart business person. You can’t stay in the problem. You must find a solution that is lasting and not subject to the winds of the insurance marketplace.

As an Analytic Broker, we will provide you with a complete picture of your current costs. Not just insurance, mind you, but all the additional expenses your business is experiencing. Then, we will provide you with solutions that are within your control with our help.

If you are not currently receiving that help or are only receiving information about your insurance costs, you are being underrepresented. Without better insight, your organization will be a sitting duck to the continued financial ravages of the "Hard Market".

contact our team today. We’ll provide a no-obligation review of your insurance programs and offer deeper insights so you can budget with improved confidence.

Budgeting for 2021 has begun! Has your insurance broker been providing more than the placement of your insurance program to help you plan for 2021? Perhaps they’re talking to you about new programs and funding arrangements. But did you know your insurance program’s pricing is the smallest component of the “true cost” of your risk control initiatives (especially when claims occur)?

To budget accurately, you need to see the COMPLETE PICTURE.

Here’s what you should be getting from your broker instead:

• An analysis of your existing Financial Leakage: What internal expenses can be controlled and recaptured to increase your performance? Your budget will be incomplete without measuring these critical expenses.
• An evolving plan to deliver specialty resources and projects to help reduce Financial Leakage’s corrosive effects on your bottom line. Once you identify all your additional expenses, it's time to recapture them.
• Quantification of your broker’s performance in impacting the metrics you care about (growth, sales, margins, to name a few). Knowing how your broker has performed in the past will help you measure their effectiveness in the future.

As you plan your 2021 budget, you deserve to know the complete picture of your financial trajectory. Keep in mind that 30-50% of your expense load in your risk control and insurance programs might be recapturable.

Your job is to ask the simple yet critical question of your existing broker: "How will you help reduce my costs and improve my operations during the next fiscal year?” If they cannot answer this critical question or fail to quantify the frictional costs of your Financial Leakage, you are likely to be under-served.

For a deeper assessment of your existing risk control program, contact our team today. We’ll provide a no-obligation review of your insurance programs and offer deeper insights so you can budget with improved confidence.

Right now, it's critical that businesses pinpoint their frictional costs in their operations. With the economy changing dramatically, you must know your cost structure to protect your margins.

One place, often overlooked, to find financial leakage is inside of your Risk Control Program. Chances are there are many hidden expenses that your business is absorbing that are not paid by the insurance carrier.

Every time you have a claim event - a business disruption - the impact ripples inside of your entire business model. The impact is measured in lost productivity, the costs to reconfigure your workforce, any brand damage you may incur, etc.

Your insurance carrier DOES NOT pay these controllable costs. YOU pay them from your capital, EBITDA, and margins.

To reduce this Financial Leakage and improve your financial position, you must:

1. Identify the amount and source of your leakage. Most brokers can’t do this, but we are uniquely qualified and trained to analyze your current Risk Control Program to determine if you are being well-served.
2. Develop a long-term strategy to mitigate these unwanted costs. We deploy specialty resources designed to lower the frequency and additional expenses associated with claims events.
3. Measure your progress. Knowing and attacking financial leakage is a team effort, and you must keep tabs on the progress. As a client, we’ll provide regular scorecards to show you how your business has improved.

As a Certified Analytic Brokerage, our firm is one of the few firms in North America that can provide you with quantifiable results during this important process. We have the resources, data, and insight to offer you a deeper look into the cost impact of your Risk Control program on your business model. We’re financial partners to our clients and work diligently to improve their performance and results.

To see what we can do for you, please contact us for a complimentary assessment of this recapturable financial leakage that is eroding your margins.

Like any business owner meeting the challenges of today, you know the importance of monitoring your cost expenditures while restructuring your operations.

Improving and protecting your margins during these difficult times requires making informed financial choices with decision support.

Additionally, you need business intelligence to dig deeply into the costs of your Risk Control Program to find and recapture the wasted capital therein.

Did you know that leakage inside your Risk Financing and Risk Control Program can add an additional 40% of your premium cost? It’s true.

These controllable costs need to be identified, contained, and recaptured as soon as possible to protect your business from unnecessary expenditure.

As an Analytic Brokerage, we are among the select few insurance brokerages in North America that can help you identify and measure these unwanted expenses.

Furthermore, we’ll offer solutions designed to recapture them over time.

So, contact us today! We offer a complimentary cost assessment of your existing Risk Management Program that will fully demonstrate how financial leakage is impacting your organization and what you can do about it!