What are the benefits of going with PremierSource over a traditional agency/broker business model?
Unlike a traditional stand-alone agency or consulting firm,
PremierSource offers employers access to a vast pool of the
best-in-class industry resources from many of the top firms in the
industry as opposed to one. Employers can be assured that the
specialists assigned to their project are the top in their field and
that they will be held accountable to staying within their core
competencies, maintaining the highest quality standards and regulatory
compliance.
Does it cost more to access all of these experts through PremierSource?
No. Given the design of our unique business model, all of the experts
in our model are treated as though they were under one roof as it
relates to our mutual clients. Employers pay the same standard industry
commissions and/or fees as they would for a single traditional
broker/consultant. The difference is that PremierSource and our
designated consulting teams have divided responsibilities, and thus,
pre-negotiated revenue sharing arrangements that simply split the
standard industry commissions or fees for service. There is no layering
of fees or commissions. Our business model offers the flexibility of
customized pricing models to suit the specific budgetary requirements
of the client.
How can PremierSource possibly save my company money on our insurance programs?
PremierSource implements multiple levels of potential cost saving
strategies. By selecting the consulting teams with the greatest volume
of business and thus the strongest vendor relationships, our model
inherently brings volume-based negotiating leverage. Further, our teams
of internal underwriters are able to underwrite cases prior to ever
taking them to market. This system allows employers to know exactly
where the “fat” is in their pricing and does the homework for the
underwriter so there is less likelihood of an employer receiving shelf
pricing. Additionally, our teams employ an aggressive negotiating
strategy that includes an open-bid process that forces underwriters to
sharpen their pencils. Our teams have a standing meeting with the major
markets on a weekly basis whereby they negotiate blocks of business at
a time allowing much greater visibility and leverage with the markets.