In past posts, we’ve mentioned that every day we call businesses about their experience modifications and how we can help them… And every single day, without fail, we get the same questions.
Because of that (and because they’re good questions with valuable answers) we’ve decided to spend some time fielding some of those here.
This week’s question is probably the most common response after we explain to people how we’re able to lower their experience modification. We talk over how we’re able to go through past claims data and manage claims from the time of incident to closure, and their immediate response is:
“Well, I have a broker. Isn’t he (or she) already doing that?”
The short answer is “no,” and, by the way, we mean no disrespect to brokers in saying that.
The problem is that most people associate brokers with insurance, and because of that, it is just assumed that they handle all facets of the industry.
The reality of the situation is that a broker’s job description is to find the best coverage for their clients’ needs for the best possible price. That’s it. Obviously, they are able to dive into all kinds of other insurance-related jobs, but that’s the entirety of what a broker does.
A broker is no more equipped to control your claims cost because he works with insurance than a podiatrist is equipped to remove a brain tumor because he’s a doctor.
So then the question becomes: If Whiteboard is a brokerage, what makes us different from any other broker?
Whiteboard is different because we are a team of specialists. We have brokers here, and, as previously stated, they have no business managing your claims. It’s not part of their job description. We also have insurance adjusters and claims managers here, and while you wouldn’t want them doing a broker’s job, they are experts when it comes to managing your claims costs and ultimately reducing your ex-mod.
The point is this: it takes more than just a broker in order control your ex-mod, and it’s time for you to start expecting more.