Are you curious to see how your program compares to your peers? What if it were possible to do something better with your insurance dollar?
Benchmarking is a quick and easy tool to answer these questions. Our understanding of market conditions, coverage offerings, and insurance carrier rates enables our clients to gain a unique advantage. This approach ultimately results in a better value proposition to you, our client.
We compile rates for Property, Liability, Auto, Excess and Professional Liability along with analyzing coverage limits, retentions and deductibles. Data is reviewed across our entire client base for new quotations and renewal offerings. Our findings are then cross referenced with the RIMS national averages. This data set review encompasses 4000+ institutions.
Benchmarking involves the following:
- Instant up-front assessment
- Comparison of current rates to industry standards
- Identification of coverage areas in need of improvement
- Establishment of baseline for target premiums