Does Your Brokerage Data Give You an Edge? Webinar: Thursday, May 19 @ 11am EDT How does your broker demonstrate their market • prowess?
Broker: “All Brokers are not equal. Our brokerage clients pay less for this same coverage. We’re stronger in your industry segment, and you should work with us.” Client: “Can you prove that?” 2
Today’s Presenters Daniel Hobbs Jeffrey M. Cohen Dan Alvisi Director of Executive Vice President, Client Relationship Product Management Global Business Development Manager 3
What Happens When You Combine Benchmarking Data and Loss Data? 3.3M insurance programs 325,000 events $200B in premium $7 trillion in loss value 750K insureds Our free, 8-page MSCAd Methodology report Our free, 10-page Insurance describes how we collect Program Benchmarking and curate loss event data. methodology document shows how we track and match this transaction data. DID YOU KNOW? In June 2014, Advisen received US Patent 8762178 B2 for a benchmarking “system and method for providing global information on risks and related hedging strategies .” 4
Why Compare Your Transaction Data to Other Sources? Improve placement Improve Drive operations Sales Spur client management efforts 5
Rate Per Million – Playing Offense NEW! Drive Sales Where do you perform better than the marketplace? Where is your competitive edge? Do you harness your marketplace advantage to get more business? Can you prove your advantage and quantify the financial impact you bring to the table?
Rate Per Million – Playing Defense NEW! Spur Client Management Efforts Scenario: “We work hard in this segment, but our results don’t reflect that effort. Either we need to exert more pressure on the carrier markets or we should re- think the resources we’ve invested in this part of our Book of Business.”
Placement Analytics NEW! Are your placements leveraging the market’s natural efficiency areas? 8
Placement Analytics NEW! With your Transaction Data loaded into Advisen, we generate placement reports to show how your market placements compare to known carrier appetites expressed by our database of Insurance Program 9
Limit Adequacy NEW! Drive Sales & Spur Client Management Efforts • Complement your limit recommendations by showing prospects and clients their curtain limits relative to your Book of Business median value • Move your discussion from what the limits should be to why different limits are more appropriate 10
Got Supporting Documentation? Our 18-page Advisen Portfolio Analysis document illustrates • the benefits of comparing your Book of Business to Advisen’s Transaction & Loss data 10-page Insurance Program Benchmarking Methodology • document shows how we track and match this transaction data 8-page MSCAd Methodology report describes how we • collect and curate loss event data Our most-requested Loss Data collateral features macro • overviews of our loss datasets 11
“Know Your Limits” weekly newsletter Know Your Limits reviews the 15 news stories which best reflect why middle-market clients need an array of P&C coverage. Client Insight users receive our “Know Your Limits” weekly newsletter in their inbox.
Risk Insight for Insurance Buyers Client Insight Professional for Brokers Includes Insurance Program Benchmarking and anecdotal Loss Data access Client Insight Expert for Brokers Also adds Limit Adequacy, Loss Benchmarking, Placement Analytics 13
Q&A Our next Client Insight Expert webinars will be on the following dates: Thursday, July 14, 2016 Thursday, September 22, 2016 11:00 AM – 11:30 AM EDT More Info CONTACT US info@advisen.com 14
Leading the way to smarter and more efficient risk and insurance communities. Advisen delivers: the right information into the right hands at the right time to power performance . About Advisen Ltd. Advisen is leading the way to smarter and more efficient risk and insurance communities. Through its information, analytics, ACORD messaging gateway, news, research, and events, Advisen reaches more than 150,000 commercial insurance and risk professionals at 8,000 organizations worldwide. The company was founded in 2000 and is headquartered in New York City, with offices in the US and the UK. +1 (212) 897-4800 | info@advisen.com | www.advisenltd.com
APPENDIX
Limit Adequacy NEW! What happens when you marry insurance program benchmarking with relevant loss data? 17
Insurance Program Benchmarking Determining Peer Limits & Rate per Million How much would that extra layer of coverage cost? 18
Loss Benchmarking NEW! Compare a company’s loss experience relative to its peer group to identify loss characteristics. 19
Loss Benchmarking NEW! Compare a company’s loss experience relative to its peer group to identify loss characteristics. 20
Advisen Benchmarking in a Nutshell 3.3M insurance programs • $200B in premium • 665K insureds • Download our free, 10-page Insurance Program Benchmarking methodology document shows how we track and match this transaction data. DID YOU KNOW? In June 2014, Advisen received US Patent 8762178 B2 for a benchmarking “system and method for providing global information on risks and related hedging strategies .” 21
Advisen Loss Data in a Nutshell 325,000 loss events across • all industries and LOBs $7 trillion in loss value • Download our free, 8-page MSCAd Methodology report that describes how we collect and curate loss event data. 22
Conventional Loss Data Views Compare to Peers 23
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