Performance-based fees reward brokers, clients
Article Abstract:
Performance-based fee arrangements for workers' compensation insurance can benefit carriers, brokers, and clients. In these arrangements, risk service providers allow businesses to provide bonuses when services meet or better benchmarks for statistics such as total claims, time lost to injuries, and average cost per claim. A performance-guarantee arrangement between DAKA International and American International Group Claims Services resulted in a 25% decrease in the accident rate and a cost per claim drop from $1,953 to $1,650.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Insurers take another swing at work site selling
Article Abstract:
Insurance companies are again trying to boost the importance of the group market by emphasizing the work site selling of insurance products. Previously, insurers' efforts at using the workplace as a new product distribution channel have resulted in losses, but insurers believe that new information technologies and strategies will make work site selling profitable. Metropolitan Property & Casualty Co is using an on-line system to market its personal lines insurance products to Microsoft Corp employees.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Comment about this article or add new information about this topic:
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