Company Overview

One of the most common and costliest mistakes made by corporate insurance buyers is strictly relying only on their current insurance agent to obtain competitive insurance proposals. This is similar to allowing the fox to guard the henhouse. The fact remains that agents are the marketing arm of insurance companies and the end or overall incentive for agents or brokers is to increase not decrease a client’s insurance cost. The higher the premium the more commission the agent receives. If an agent says I do not want to compete on price but they want to talk about their superiority and how they add value – run.

In addition, failing to develop comprehensive bid specifications allows the agent to control the process and it is impossible to compare the terms and conditions being offered from different agents or from the same agent. Without formal bid specifications, it is difficult to obtain the lowest premium or broadest coverages available.

An agent will indicate that they shop the program to various insurance companies on a regular basis. This may be true but ask yourself, how hard does the agent work for less commission? The focus will not be 100% but only enough to maintain the account and not get the best deal.

Alternative Insurance Management, LLC is dedicated to providing independent outsourced risk management services to clients.

The main tool is the competitive bid process. If done correctly, it has proven, time and time again to significantly reduce the cost of risk and will continue to assure competitive premiums each year. The competitive process will also increase the service level of the insurance agent and will expands coverage terms.