By: tripointins On: February 13, 2020 In: Performance Based Insurance

Most insurance companies have dirty risk pools because they insure just about everybody – safety-conscious companies and careless companies alike. So premiums are higher for everybody because the pool needs cash to cover the excessive claims of unsafe, careless companies. Companies with track records of safety and low claims...

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By: tripointins On: January 20, 2020 In: Performance Based Insurance

Insurance isn’t fun. It’s one of business’s necessary evils you hope you never need to use. That’s why most CEOs and CFOs tend to avoid thinking about it. After setting up a plan, they’re locked in and lull themselves into comfortable contentment. They tolerate an annual review, listen to...

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By: tripointins On: December 27, 2019 In: Performance Based Insurance

How does the Performance Based Insurance (PBI) model differ from the Subsidy Based Insurance (traditional insurance) model? The Performance Based Insurance model requires little or no subsidy to the insurance carrier – it works like this. All companies pay a fixed premium that’s used to run an insurance company....

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By: tripointins On: December 3, 2019 In: Performance Based Insurance
By: tripointins On: January 10, 2019 In: Performance Based Insurance

Executives are often surprised when colleagues mention that they have moved to PBI based plans, and that they have dramatically lowered their premiums. PBI is one of the subjects which will be discussed extensively in this blog. Conventional insurance is called “Guaranteed Cost Insurance.” Companies pay a fixed premium...

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Let’s begin with some simple definitions. Subsidy-Based Insurance (SBI) is traditional insurance, insurance coverage where the carrier keeps about 35% of your premium and your business is thrown into a pool of other unknown business, often with a mixed if not problematic loss history. Your rate is determined by...

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When employers want to cut their workers’ compensation costs, they work on improving safety programs or training. But have you thought about improving your employee communications? Communications Before the Injury Communicating with employees before a claim occurs may cut workers’ compensation costs. Intracorp, a managed care company, conducted a...

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By: tripointins On: July 21, 2016 In: Performance Based Insurance
By: tripointins On: July 17, 2016 In: Performance Based Insurance

PBI offers businesses many advantages. One of the most important is that businesses can control the premium they pay. They no longer face unpredictable premium swings, they don’t need to subsidize the losses of unsafe companies and they no longer have the hassle of going out to bid. Companies...

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