Frequently Asked Questions
What are the benefits of going with PremierSource over a traditional agency/broker business model?
Unlike a traditional stand-alone brokerage agency or consulting firm, PremierSource focuses on its clients and is willing to put a portion of its fee at risk for client satisfaction. We offer a broad menu of customizable, value-added, collaborative services from multiple disciplines (ie: legal, actuarial, HR specialists, underwriters, etc.) that extend well beyond traditional brokerage services. Even so, our fees are competitively in line with more traditional brokerage fees or commissions.
Does it cost more to access all of these specialists through PremierSource?
No. Employers pay the same standard industry compensation that they would for a single traditional broker/consultant. There is no layering of fees or commissions to access our full service model. Our business model offers the flexibility of customized pricing models to suit the specific needs, priorities and budgetary requirements of the client.
How can PremierSource possibly save my company money on our insurance programs?
PremierSource implements multiple levels of potential cost saving strategies. Our model inherently brings volume-based negotiating leverage, but we don’t rely on this alone. Our teams of internal underwriters are able to underwrite cases prior to ever taking them to market. This system allows employers to know exactly where the “fat” is in their pricing and does the homework for the underwriter so there is less likelihood of an employer receiving shelf pricing. Additionally, our teams employ an aggressive negotiating strategy that includes an open-bid process that forces underwriters to sharpen their pencils.
We further look well beyond the initial negotiations and plan design strategies to uncover cost savings through deeper analytics and a proactive process for the monitoring and management of waste, fraud and abuse in the programs.
All combined, we leave no stone unturned when it comes to identifying cost saving and risk reduction opportunities that add value to our clients.