Our Services at Renewal
Negotiation
At renewal time, you need a consultant that possesses the technical underwriting knowledge to negotiate effectively with insurance carriers.
Information is power. Our Financial Analysis Audit™ provides the underwriter with specific data that evaluates profit, claims, inflation, reserves and administration expenses within your program. This in-depth analysis allows us to negotiate effectively, efficiently and deliver results on behalf of our clients.
Program Review
Clients of The Winch Group Inc. are provided with an annual Program Review, which includes:
Financial Analysis Audit:
- A complete reconciliation of all financial underwriting factors culminating in a surplus/deficit balance showing the profit of the insurance company each year
- A check of the competitiveness of the reserve and administration factors
- Review of all claims experience on both pooled and experience-rated benefits
Pooled Benefit Rate Check
(ie: Life, AD&D and Long Term Disability):
Our computer data base includes age banded manual rates which we use as a check against the pooled rate adjustments calculated by the insurance carrier.
Market Survey:
A complete market survey every three years to ensure the plan remains competitive in the market
National Plan Design Comparison:
Our comparative analysis of your plan design vs. your national or industry competitors provides an invaluable reference to assist any organization in developing and implementing compensation strategies and will specifically help to:
- examine the competitiveness of your benefit programs
- understand best practices nationally and within your sector
Underwriting Review:
Analysis of the current underwriting method versus alternative funding arrangements, such as: