RiskOptics Serves as an Independent, Comprehensive Benefits and Risk Management Service Offered to Mid-sized Companies

Often mid-sized organizations have large benefits and insurance spend but have no benefits/risk manager or insurance expertise. These functions are typically outsourced to a commissioned insurance broker or handled internally by someone whose primary expertise is not insurance and risk management.

This Outsourcing Oftentimes Doesn’t Serve You

Insurance agents are “agents” of the insurance companies. They do not represent your interests, but represent the interests of the insurance company. Agents are the insurance companies’ sales force and are directly compensated by the amount and type of insurance sold to you. Agents are directly conflicted. This is the classic fox guarding the henhouse.

Insurance brokers are supposed to be independent of the insurance companies with whom they place insurance. However, they are also either directly compensated as are agents, or are indirectly compensated.

Even if your broker does not officially take contingent or direct commission, there are other incentives to increase premium from your account.

RiskOptics can help you hold brokers and agents accountable. Our risk managers know how to incent brokers to be the best they can be.

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Dwindling Internal Resources

As businesses are looking for ways to cut costs, internal risk management and benefits departments are suffering under decreased resources and increased pressure to make every budget dollar stretch further.

  • Most small to mid-size companies do not have professional risk managers or benefits managers handling their insurance programs.
  • In most companies, the primary job of the person handling annual insurance renewals and managing the risk management program is not insurance or risk management.
  • Even if the company has a professional risk manager or benefits manager, he or she is overwhelmed with the variety of tasks and duties required of typical risk management departments, and typically does not have specialized support staff.
  • Risk management and benefits management at most smaller to mid-size firms does not require a full-time department.

RiskOptics expert risk managers and benefits managers can provide a back office resource for you, freeing the internal resource to focus on their core expertise. Or we can act as your risk manager or benefits manager on a fully-outsourced basis. RiskOptics allows you to access a world-class risk management or benefits management department only when you need it, and typically for less than the cost of an entry-level employee. In addition, our services can often be provided on a success-sharing basis where we would be paid out of the savings we provide.

Dwindling Broker Resources

In addition to inherent performance limitations from conflicts of interest, your agent or broker is suffering under increased pressure from the insurance companies they represent, and decreasing resources within their own business. They are simply unequipped and unable to provide you the service you used to receive.

  • As the insurance brokerage business has consolidated over the past few decades, brokers have had to cut costs and eliminate services that are not related to the insurance placement transaction.
  • Recently, the financial pressure related to reduced income from contingent commissions has further reduced broker resources.
  • Mid-sized and smaller companies with lower premium and commission volume struggle to get brokers to pay attention to their needs or staff their account teams with their best talent.

RiskOptics expert risk managers and benefits managers know how to access the top resources in the best brokers throughout the world. RiskOptics can help you access the most motivated and professional insurance brokers and hold them accountable for performing in your best interest.

RiskOptics is not an agent or broker or a disinterested consultant. We work for you and you alone as the outsourced manager of your benefits, risk and insurance programs. We bring insurance expertise and world-class solutions to your business just like we do to our Fortune 500 clients.

Our independence aligns our interests with your interests. As a result, RiskOptics will bring significant savings to your company – typically 20 percent or more on your property and casualty spend. We have clients that have saved well over $500,000 per year! Often, for less than the cost of an entry-level employee, our service places the worry about performance and results right where it should be: on us.

Want more information on RiskOptics?

Todd Miller

Todd Miller


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