INSURANCE SERVICES

WINN Program

A successful technique designed to improve ratios and reduce the costs of turning around unprofitable books of business.

If your company is like most, you have agents or producers with loss ratio problems. Not only are they directly costing you money, but unprofitable books also affect your competitive position by forcing you to charge higher rates on all the risks you insure. URI's WINN program assists you by directly targeting unprofitable books of business to help you improve your loss ratios. WINN focuses on identifying policy changes and incorrectly rated policies through a questionnaire program. Therefore, you can charge the proper rate for the risks you insure.

Through accomplishing the objective of improving ratios and reducing costs, you are able to preserve your relationships and business through agents who have the following characteristics:

  • Under-performing agents you want to rehabilitate;
  • Agents who are candidates for a strong rehabilitation effort because of a loss ratio problem;
  • Agents who are on the verge of more drastic underwriting action.

The WINN program has other applications that may also be considered. For example, you may have an agent who wants to improve his or her loss ratio. Since many agents rarely update their books of business with fresh information, WINN is a means to accomplishing this task. Additionally, if you recently acquired a book of business, WINN will assist you in cleansing the book or obtaining current information.

Can the WINN program help your re-underwriting effort?

It is simply good business! You Can Count on Better Bottom Line Results

If these comments sound familiar, your company is an excellent candidate for the program:

"We struggled with last year's plans."
" My list of poor performing agents is still growing."
" The results we hoped for never materialized."
" I've lost resources."

The WINN program is a reliable and efficient program you can depend on. By identifying policies with changes, you have a faster, more effective way to rehabilitate a book of business and drive your re-underwriting effort. Using the WINN Program as part of your loss ratio and profit improvement program gives you more control over the outcome of a planned re-underwriting action.

What are the results of the WINN program?

  • Identify use changes you would not have otherwise known.
  • Generate Additional Premium by correctly classifying business that is already on your books without assuming additional exposure.
  • Obtain rate for new exposures by discovering unrevealed operators.
  • Allows you to add merit points or move business to a different pricing tier when you learn of new accidents or violations.
  • Homeowner's-Discover hazards or update cost guides without ordering costly field inspections.
  • Save time-Review an entire book of business and have URI report only policies with changes or new information.
  • Cleanse current policy information

How does "WINN" work?

You know which policies in your agents' portfolios have been unprofitable or have incurred losses. What you do not know is which policies are incorrectly rated, incorrectly priced or have suspect conditions you need to be made aware. Using a customized information gathering packet, the WINN program secures current data about the policies and exposures you insure. Serving as the foundation of the program, we obtain reliable and accurate information by going directly to the policyholder, therefore guaranteeing more useful and useable data. From this new database, the WINN program applies a screening process designed to identify policies that incurred changes or that are incorrectly classified. This provides a group of policies with newfound rating and pricing opportunities. From these polices, you are now able to capitalize on the findings produced by the effort.

Will the program identify candidates for participation?

It will not. This is your call. However, the following serves as a quick test to determine who would best benefit.

  • Has the agents' book been unprofitable in two of the past three years?
  • Are there strong reasons to suspect integrity or misclassification problems?
  • Are you dissatisfied with the results of this producer?
  • Has the agent been considered for any disciplinary action in the past year to six-months?
  • Are ratios unacceptable with or without weather related experiences?
  • Has an agent expressed a desire that he or she would like to improve the performance of his or her book of business?
  • Have you recently rolled a book of business from another carrier which you have incomplete information?

Is it the agent's responsibility to keep accurate records?

Yes, or at least you would like to think so. However, there are sufficient instances where you can help them, resulting in success for you and your organization. Their success drives your success and conversely their failures .. Every day agents are in the trenches, out on the front lines, dealing with customers. They need your support and the WINN Program is tailor made for this task...a WINN - WINN result.

JUST HOW WORTHWHILE IS THE PROGRAM?

Assigning a value on saving one of a P & C Companies' most important resources, your agent, is not easy. However, you may also want to consider several of the following reasons as a part of your evaluation:

  • Our typical programs yield a 3-1 Return on Investment
  • Reduction of loss and expense ratios by newfound additional premium
  • Recover your investment quickly
  • Introduces an active loss avoidance activity

Achieve Bottom Line Results!

  • Maximize Premium Potentials
  • Contribute to Operational Profit
  • Conserve and Save Resources
  • Protect Your Rate

Gain A Competitive Edge

WINN features:

  • A Proven Concept
  • Flexible Plans
  • Effectiveness
  • Continuous reporting of results
  • Easy Implementation

Why URI?

For over 40 years URI Information Services has been a part of some of the best-conceived and implemented profit improvement plans. Benefiting from those experiences, URI continues to refine the questionnaire process that focuses on improving loss ratios. When designing the WINN program, we chose to help our P & C clients focus on positive methods to make needed changes while preserving relationships. The concept has proven to be a WINNER. The program works. Relationships are strengthened. That is why URI!

 

 

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