KMRD Consolidated Insurance Program Creates More Coverage and Savings

KMRD Consolidated Insurance Program Creates More Coverage and Savings

A prospect’s agent placed a separate insurance program for every new operation they founded or purchased over the past 10 years.  KMRD’s consolidated insurance program created more coverage, greater consistency and significant savings. 

Lower insurance costs

By consolidating and eliminating redundant coverages, insurance premiums decreased.

Simplified Renewals

Adjusting insurance programs to the same effective date makes the insurance renewal process less burdensome.

Broader Coverage

The depth and breadth of coverage achieved was significant.


The Issue

A prospect’s agent placed a separate business insurance program for every new operation they founded or purchased over the past 10 years. This included:

  1. Six separate Workers Compensation programs with different carriers and different effective dates.
  2. Four General Liability and Property programs with different carriers and different effective dates.
  3. Two Auto programs with different carriers and different effective dates.

None of these programs included a consistent level or breadth of coverage.  Some of these programs were redundant.

This was bad enough; however, the total premium for all of the programs represented almost $1 million, and the prospect was having trouble getting a call back from their agent. We speculated that the agent did not even know how large of a client this was!


Result

As a result of their agent, there was no continuity of coverage, no use of the buying power that $1 Million of premium grants, and insurance renewals all year long!

KMRD proceeded to consolidate their risk picture and approached the insurance marketplace.


Our Response: A Consolidated Insurance Program

We consolidated the program, creating rate savings, more coverage, consistency, better service, and less friction with one renewal date. So simple.


The simple practice of stepping back to see the big picture, establishing and executing a risk management plan generates results. That’s the KMRD Advantage.

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