Bankers Insurance re-engineered the insurance process from start to finish. We broke the mold on the flawed “Quote my coverage at renewal” cycle and instead approach the subject as if manufacturing a product. Read on to learn how our product stands out from the crowd.
Increase Net Income for Zero Cost!
All of us face risk. Simply by waking each morning and swinging our legs to the floor, we step into the day and assume its hazards. But insurance is only one means to control risk and should be the last measure used. Other means are to A) avoid risk, B) reduce risk, C) transfer risk to other parties, and only after that D) insure against it.
Manufacturers should emphasize as much in A, B, and C as possible, thus reducing the cost of insurance in D. For example, upon hiring a driver for a fleet, they will be subject to the risks of the road. They may avoid risk by circumventing known dangerous intersections. They can reduce risk by driving at a reasonable pace and in a defensive mindset. These efforts reduce accidents, claims, and therefore the cost of insurance.
Gladly, many means of avoiding and reducing risk are free. Yet, they save the business money. Note that. Reducing expense produces the same impact on net income as increasing revenue. Any company should leap at the opportunity to increase net income for zero cost!
Our manufacturers insurance program is engineered to avoid and reduce risk utilizing several zero-cost strategies. One such strategy is to implement a documentable safety program with formalized safety policies, procedures, and training. We can provide hundreds of documents, safety policies, flyers, handouts, presentations, and videos, many co-brandable and all free of charge. Implementing routines such as regular safety training and toolbox talks keeps safety in the mind of employees. An active safety program instills a culture of safety in the workplace and is statistically proven to reduce workplace accidents, thus reducing liabilities, resulting in reduced cost of insurance.
Another benefit of a safety program is that the resulting documentation evidences the company’s efforts to prevent the situation, thereby establishing a defensible position in court and reducing the possibility of a verdict of gross negligence. From every perspective, reducing and avoiding risk saves time, money, and demonstrates care to employees.
To learn more or discuss other zero-cost strategies to avoid or reduce risk, visit manufacturers insurance or contact us at sales@bankersinsurance.net or (800) 541-1419.
Manufacturers Insurance Quote.
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Pulling Financial Levers | Manufacturer’s Insurance
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