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Project-Driven Benchmarking
Objectives define the annual...ings and fail more often. Celebrate benchmark victories. It helps keep the pla...

... consider the following: 1. Would you recommend this company? 2. What about this company do you like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back How To Benchmark Loss Control 6/10/2015 12:00:00 AM by CompleteMarkets Editor , Al Rhodes This content has not been rated yet. HOW TO BENCHMARK LOSS CONTROL Use this proven method to measure the effectiveness of your clients' risk management programs. Loss control programs play a key role in helping your clients manage their risks. Although these programs offer significant benefits, calculating their impact can be difficult. One effective method involves an analysis of losses versus payroll. To calculate this result, called the pure loss rate, develop reported losses for each of several years to an ultimate level, and then trend these losses to a common date using benefit level, payroll, and medical costs. Comparing these adjusted losses with similarly trended payrolls yields a credible pure loss rate for each year. ...

... ) Please consider the following: 1. Would you recommend this company? 2. What about this company do you like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Benchmarking Loss Experience In A Workers Compensation Loss-Control Program 4/30/2013 10:40:32 PM by CompleteMarkets Editor This content has not been rated yet. BENCHMARKING LOSS EXPERIENCE IN A WORKERS COMPENSATION LOSS-CONTROL PROGRAM Analyzing losses against payroll is an effective method to measure the effects of a loss-control program. The desired statistic is the pure loss rate, which you can calculate by developing reported losses for each of several years to an ultimate level and then trending these losses to a common loss date using benefit level, payroll, and medical-cost trends. Then relate adjusted losses by ratio with similarly trended payrolls for a pure loss rate for each year that can be credibly compared. The following example demonstrates how to choose a benchmark and how to track improvements in loss experience due to the loss-control program. ...

Benchmarking Loss Experience In A Workers Compensation Loss-Control Program
BENCHMARKING LOSS EXPERIENCE IN A WORKERS COM...he loss program, then return to the benchmark pure loss rate of $3.75. The imp...

... Required) Please consider the following: 1. Would you recommend this company? 2. What about this company do you like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All benchmark Articles tagged with benchmark Back Benchmarking Loss Experience In A Workers Compensation Loss-Control Program This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:40:32 PM BENCHMARKING LOSS EXPERIENCE IN A WORKERS COMPENSATION LOSS-CONTROL PROGRAM Analyzing losses against payroll is an effective method to measure the effects of a loss-control program. The desired stati.. All Articles by CompleteMarkets Editor Comments (0 ) Four Ways To Cut Costs And Increase Profits This content has not been rated yet. CompleteMarkets Editor , Catherine Oak 4/30/2013 10:43:49 PM FOUR WAYS TO CUT COSTS AND INCREASE PROFITS by Bill Schoeffler and Catherine Oak Theres more of an emphasis on watching expenses today in order to return a reasonable profit. Many owne.. All Articles by CompleteMarkets Editor Comments (0 ) ...

How To Benchmark Loss Control
HOW TO BENCHMARK LOSS CONTROL Use this proven meth... loss program, then go back to the benchmark pure loss rate of $3.75. The imp...

... needs as debt principal payments) will give you your cash flow situation at any time. And that's just a small step short of actually being able to project future cash flow at least one month in advance. Wouldn't that be nice to know each month! Even more important, the liquidity ratios that can be drawn from your balance sheet truly tell you the health of your business at the moment that the balance sheet is drawn. Although an operating statement is useful as a budgeting and year-to-date tool for profitability and cash flow, the balance sheet's purpose is the same as a complete physical exam: To determine both your general health and specific indicators of the functions of your system. A balance sheet provides the data to test the liquidity of your business. All you need are the formulas and benchmarks to convert this data to meaningful results. Here are the formulas and liquidity ratio benchmarks that you should apply monthly to your Balance Sheet. Running a balance sheet without applying these ratios is like collecting data but never evaluating it: CURRENT RATIO The general liquidity ratio measures your agency's short-term health. If current assets can't meet current liabilities (within 12 months), you need to strengthen your liquidity. Formula: Current Assets/Current Liabilities Benchmark: At least 100% ACID TEST The acid test is a primary liquidity measure used to determine whether the firm can meet its current obligations. Formula: (Cash+ Receivables)/Payables Benchmark: At least 90% RECEIVABLES TO PAYABLES A poor receivables-to-payables ratio indicates a poor collector. Formula: Trade (Co.) (or All) Receivables ...

...l you need are the formulas and benchmarks to convert this data to meaningful...t Assets less Current Liabilities. Benchmark: Take the Average Daily Cash Ex...

... ? The answer? Yes, if there's appropriate due diligence, perfect implementation, and the price meets realistic expectations. When these three conditions come together, as so many players seem to expect, banks can make fantastic returns by acquiring P/C agencies. However, the results to date strongly suggest that these conditions rarely — if ever — occur simultaneously. This first in a four-article series will focus on due diligence issues. DUE DILIGENCE Due diligence includes three elements: financial, legal, and operational. Because most banks are well aware of financial and legal due diligence, I won't discuss them here. However, I'm not suggesting that either should be ignored or minimized. OPERATIONAL DUE DILIGENCE Operational due diligence rarely receives adequate consideration and is frequently ignored. Operational due diligence includes peer review/benchmarking, competition, employees and their skills, and most important, the variations in culture between banks and insurance agencies. PEER REVIEW/BENCHMARKING Peer review/benchmarking helps align expectations with reality. Expectations, such as unrealistic hopes for economies of scale, are often set too high. For example, one large bank asked if I thought they could get an extra percentage point of revenue from insurance companies by bringing their size to bear in negotiations. I replied, Yes, but you'll inevitably lose that point through extra expenses. They didn't hear anything past Yes. If they had, they'd have carefully considered my analysis of large broker results that show an average five-year pretax profit margin of approximately 10% . That average then decreased to 8% before the hardening Commercial Lines market started to add some points ...

...executives enough information to benchmark their organization's current level ... identifies both the current level (benchmark value) of customer loyalty and t...