Performance Driven Solutions
Performance Driven Solutions (PDS) is a risk management strategy that provides businesses with a significant opportunity to reduce their insurance costs.
Until now, Performance Driven Solutions has only been available to a very select group of large businesses with significant premium and resources. Due to our turnkey approach, PDS can be suitable for companies with premiums as low as $150,000 or 35 full time employees.
PDS is about shifting control away from the insurance carrier community and back to the employer, where the employer can control their own destiny and reduce their costs over time. Most insurance brokers don’t promote PDS due to the reduced compensation and bonus potential paid to them by the insurance industry.
The demand for PDS is escalating as higher-performing companies can no longer afford to subsidize under-performing companies. Higher-performing companies see PDS as a competitive advantage over their competition, and a way to improve their bottom line.
Why should you consider PDS?
It’s simple: As a PDS client, you will be less susceptible to the ever-changing cyclical nature of traditional insurance providers. Other benefits enjoyed by members of PDS programs include:
1. Lower Costs: The price of insurance coverage purchased in the conventional market can include mark-ups to pay for the insurer’s acquisition costs, marketing expenses, higher commissions, administration and overhead. Such pricing is specifically designed to deliver profit to the insurer’s bottom line. In a PDS program the goal is to minimize those costs and enhance your bottom line.
2. Better Services and Management: A PDS program can purchase strategic insurance products that allow each member to manage predictable losses while transferring potential catastrophic losses. This leads to improved loss control and greater awareness of the factors that commonly give rise to losses so that they may be reduced or often prevented in the future.
3. Enhanced Profit Potential: As a PDS participant, your premiums are directly related to your ability to prevent or control your losses. With reduced losses and by aligning yourself with like minded companies you move away from subsidizing the general marketplace and toward lowering your costs and increasing your bottom line.
4. Long-Term Control of Your Insurance Destiny: Tolman & Wiker provides an opportunity for businesses to control their long-term insurance costs and avoid the burden of spending countless hours on an ineffective and labor intensive bid process. Long-term control is more effectively realized when losses are prevented or reduced by implementing a results based risk management strategy.
5. More Time Spent Running Your Business: Partnering with Tolman & Wiker on a PDS program means you spend less time on insurance issues and more time running your business. We will design, implement and measure an effective risk management plan that will adapt and grow as your business changes.
How can you get started? We make it easy for you. Our dedicated staff of professionals will work with you one-on-one to understand your company’s needs and goals, and then structure a program to best meet them. Why wait? For more information on how PDS works, our services and success, or to speak with a business that is benefiting from participating in PDS, please [ Contact Us ].