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Compare & Save

We Compare and You Save!

Get smart with independent risk management advice for commercial insurance, group benefits and retirement.

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Overview:

PolicySmart makes it easy for organizations across industries to analyze, audit and shop their insurance, group benefits and retirement plans.All on one platform.

13,000

Our proprietary tool, the CMR Database® gives access to over 13,000 Property & Casualty, Group Benefits, Retirement specialists, and direct writers with over $4T in Premium and $24T in retirement assets so organizations can find the right vendor for your organization's needs and budget

600,000

We analyze client policy & plan data against 600,000 datapoints including: NAICS codes, premium volume, profitability of premiums, deductibles, assets under management, limits, number of employees, group size ranges, self-funding expertise, TPAs, etc.

Risk Consultants - Not Brokers

Once policy documents are uploaded for analysis, our system will get to work sourcing specialty brokers/vendors with the best coverage, price and service for your organization.

95%

We have achieved a 95% success rate of reducing our clients premiums

$130M

We have saved them over $130M to date.

Whats clients say:

Larry Lorber

“We engaged PolicySmart services to independently audit our USA Property/Casualty policies after experiencing a long-term brokerage relationship. Results showed significant policy gaps and that we were overpaying by 35% and PolicySmart fixed our problems”

Nancy McGary

“As operating as Director of Collections for The Whitney, we were interested in having an independent risk management consultant review our Fine Art and Property/Casualty policies. After this initial engagement we continued with PolicySmart to significantly reduce our medical insurance premiums too!”

John Mapes

“As a Partner of Aurora, we hired PolicySmart to review the Group Benefit premiums for our portfolio companies. Resultant savings were in the millions. We liked the independent nature of PolicySmart of not being a broker selling products and adding new industry resources using their proprietary database.”

Don Brown

“Acting as Director of Procurement for VNS Health I was seeking an independent Risk Management Consultant (non-broker) to independently audit our Property/Casualty policies. Results yielded gaps/duplications and overpayments. After the completion of our audit, we then engaged PolicySmart to use their proprietary database to find a new broker. They did so and saved VNS Health over $1m per-year while correcting the gaps we had in coverage.”

Larry Lorber

“We engaged PolicySmart services to independently audit our USA Property/Casualty policies after experiencing a long-term brokerage relationship. Results showed significant policy gaps and that we were overpaying by 35% and PolicySmart fixed our problems”

Nancy McGary

“As operating as Director of Collections for The Whitney, we were interested in having an independent risk management consultant review our Fine Art and Property/Casualty policies. After this initial engagement we continued with PolicySmart to significantly reduce our medical insurance premiums too!”

John Mapes

“As a Partner of Aurora, we hired PolicySmart to review the Group Benefit premiums for our portfolio companies. Resultant savings were in the millions. We liked the independent nature of PolicySmart of not being a broker selling products and adding new industry resources using their proprietary database.”

Don Brown

“Acting as Director of Procurement for VNS Health I was seeking an independent Risk Management Consultant (non-broker) to independently audit our Property/Casualty policies. Results yielded gaps/duplications and overpayments. After the completion of our audit, we then engaged PolicySmart to use their proprietary database to find a new broker. They did so and saved VNS Health over $1m per-year while correcting the gaps we had in coverage.”

Larry Lorber

“We engaged PolicySmart services to independently audit our USA Property/Casualty policies after experiencing a long-term brokerage relationship. Results showed significant policy gaps and that we were overpaying by 35% and PolicySmart fixed our problems”

Nancy McGary

“As operating as Director of Collections for The Whitney, we were interested in having an independent risk management consultant review our Fine Art and Property/Casualty policies. After this initial engagement we continued with PolicySmart to significantly reduce our medical insurance premiums too!”

John Mapes

“As a Partner of Aurora, we hired PolicySmart to review the Group Benefit premiums for our portfolio companies. Resultant savings were in the millions. We liked the independent nature of PolicySmart of not being a broker selling products and adding new industry resources using their proprietary database.”

Don Brown

“Acting as Director of Procurement for VNS Health I was seeking an independent Risk Management Consultant (non-broker) to independently audit our Property/Casualty policies. Results yielded gaps/duplications and overpayments. After the completion of our audit, we then engaged PolicySmart to use their proprietary database to find a new broker. They did so and saved VNS Health over $1m per-year while correcting the gaps we had in coverage.”

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Clients Success Stories by Industry Sector:

Transportation:

Transportation:

Roadlink: Saved them 10% or $1,200,000 over a three-year period. (Bethesda. MD).

Coach USA: Saved them $1m off their medical on an annual basis. (Dallas, TX).

Merchant Fleet Management: Saved them $300,000 annually off their medical. (Hookset, NH).

Healthcare:

Healthcare:

Carondelet Health System: Fourteen Hospitals in six states. Saved $1M on P&C expenses annually while improving coverage in service quality. (St. Louis, MO).

Visiting Nurse of New York (VNS): VNS- Largest home nursing service in the USA. Saved $1M on P&C Annualy & corrected coverage gaps. (New York, NY).

Refuah Health Care: Private outpatient health care facility with two hundred employees and over 50 MD's. Saved $80,000 annually on P&C (including malpractice) while maintaining coverage. (Spring Valley, NY).

Moving/Shipping:

Moving/Shipping:

Cadogan Tate: Global logistics firm specializing in fine art and high net worth clients. Saved $400,000 over three years off their P&C without any reduction in coverage.

Plycon Transportation: Moving of high net worth individual and high valued cars around the USA. Working to lower P&C spend by $500,000. (Kings Park, NY).

Financial Services:

Financial Services:

Gabelli Funds: Engaged to audit their P&C policies. Uncovered gaps and duplications. Fixed coverages and client remained with their long-term broker (Rye, NY).

Natixis: Uncovered gaps and was able to secure a complicated coverage their long-term broker was unable to do. Saved the client over $100,000 annually in P&C spend. (New York, NY).

Private Equity:

Private Equity:

Aurora Capital: Saved $1.4M in Group Benefit expenses over five portfolio companies over a three year period. (Westwood, CA).

Fenway Partners: Was engaged to conduct due diligence of targeted acquisitions and present recommendations to senior management.

Roadlink: Reduced medical premiums to the tune of over $1,200,000 over a three-year period.

Education:

Education:

Lincoln Educational Services: Technical college with 1400 employees and $325M in annual revenue. Saved 30% on Property & Casualty insurance with three year savings of $2.17M and 15% on Group Benefit expenses with three year savings of $6M.

Transportation:

Transportation:

Roadlink: Saved them 10% or $1,200,000 over a three-year period. (Bethesda. MD).

Coach USA: Saved them $1m off their medical on an annual basis. (Dallas, TX).

Merchant Fleet Management: Saved them $300,000 annually off their medical. (Hookset, NH).

Healthcare:

Healthcare:

Carondelet Health System: Fourteen Hospitals in six states. Saved $1M on P&C expenses annually while improving coverage in service quality. (St. Louis, MO).

Visiting Nurse of New York (VNS): VNS- Largest home nursing service in the USA. Saved $1M on P&C Annualy & corrected coverage gaps. (New York, NY).

Refuah Health Care: Private outpatient health care facility with two hundred employees and over 50 MD's. Saved $80,000 annually on P&C (including malpractice) while maintaining coverage. (Spring Valley, NY).

Moving/Shipping:

Moving/Shipping:

Cadogan Tate: Global logistics firm specializing in fine art and high net worth clients. Saved $400,000 over three years off their P&C without any reduction in coverage.

Plycon Transportation: Moving of high net worth individual and high valued cars around the USA. Working to lower P&C spend by $500,000. (Kings Park, NY).

Financial Services:

Financial Services:

Gabelli Funds: Engaged to audit their P&C policies. Uncovered gaps and duplications. Fixed coverages and client remained with their long-term broker (Rye, NY).

Natixis: Uncovered gaps and was able to secure a complicated coverage their long-term broker was unable to do. Saved the client over $100,000 annually in P&C spend. (New York, NY).

Private Equity:

Private Equity:

Aurora Capital: Saved $1.4M in Group Benefit expenses over five portfolio companies over a three year period. (Westwood, CA).

Fenway Partners: Was engaged to conduct due diligence of targeted acquisitions and present recommendations to senior management.

Roadlink: Reduced medical premiums to the tune of over $1,200,000 over a three-year period.

Education:

Education:

Lincoln Educational Services: Technical college with 1400 employees and $325M in annual revenue. Saved 30% on Property & Casualty insurance with three year savings of $2.17M and 15% on Group Benefit expenses with three year savings of $6M.

Transportation:

Transportation:

Roadlink: Saved them 10% or $1,200,000 over a three-year period. (Bethesda. MD).

Coach USA: Saved them $1m off their medical on an annual basis. (Dallas, TX).

Merchant Fleet Management: Saved them $300,000 annually off their medical. (Hookset, NH).

Healthcare:

Healthcare:

Carondelet Health System: Fourteen Hospitals in six states. Saved $1M on P&C expenses annually while improving coverage in service quality. (St. Louis, MO).

Visiting Nurse of New York (VNS): VNS- Largest home nursing service in the USA. Saved $1M on P&C Annualy & corrected coverage gaps. (New York, NY).

Refuah Health Care: Private outpatient health care facility with two hundred employees and over 50 MD's. Saved $80,000 annually on P&C (including malpractice) while maintaining coverage. (Spring Valley, NY).

Moving/Shipping:

Moving/Shipping:

Cadogan Tate: Global logistics firm specializing in fine art and high net worth clients. Saved $400,000 over three years off their P&C without any reduction in coverage.

Plycon Transportation: Moving of high net worth individual and high valued cars around the USA. Working to lower P&C spend by $500,000. (Kings Park, NY).

Financial Services:

Financial Services:

Gabelli Funds: Engaged to audit their P&C policies. Uncovered gaps and duplications. Fixed coverages and client remained with their long-term broker (Rye, NY).

Natixis: Uncovered gaps and was able to secure a complicated coverage their long-term broker was unable to do. Saved the client over $100,000 annually in P&C spend. (New York, NY).

Private Equity:

Private Equity:

Aurora Capital: Saved $1.4M in Group Benefit expenses over five portfolio companies over a three year period. (Westwood, CA).

Fenway Partners: Was engaged to conduct due diligence of targeted acquisitions and present recommendations to senior management.

Roadlink: Reduced medical premiums to the tune of over $1,200,000 over a three-year period.

Education:

Education:

Lincoln Educational Services: Technical college with 1400 employees and $325M in annual revenue. Saved 30% on Property & Casualty insurance with three year savings of $2.17M and 15% on Group Benefit expenses with three year savings of $6M.

Client Saving Data:

Property & Casualty
Healthcare

Healthcare

  • CompanyCarondelet Health
  • Total Employees1500
  • Annual Sales$100 million
  • Annual Spend (Premiums)$4,000,000
  • Savings with PolicySmart-%25%
  • 3-Yr Savings with PolicySmart-$$3,000,000
Manufacturing

Manufacturing

  • CompanyUnited Plastics Group
  • Total Employees800
  • Annual Sales$300 million
  • Annual Spend (Premiums)$3,500,000
  • Savings with PolicySmart-%50%
  • 3-Yr Savings with PolicySmart-$$5,250,000
Clothing / Fashion

Clothing / Fashion

  • CompanyEileen Fisher
  • Total Employees500
  • Annual Sales$300 million
  • Annual Spend (Premiums)$1,000,000
  • Savings with PolicySmart-%30%
  • 3-Yr Savings with PolicySmart-$$900,000
Publishing

Publishing

  • CompanyPublishers Clearing House
  • Total Employees700
  • Annual Sales$320 million
  • Annual Spend (Premiums)$330,000
  • Savings with PolicySmart-%55%
  • 3-Yr Savings with PolicySmart-$$541,500
Education

Education

  • CompanyLincoln Educational
  • Total Employees1400
  • Annual Sales$325 million
  • Annual Spend (Premiums)$2,519,900
  • Savings with PolicySmart-%30%
  • 3-Yr Savings with PolicySmart-$$2,177,100
Water Purification

Water Purification

  • CompanyAquarion Water
  • Total Employees1000
  • Annual Sales$300 million
  • Annual Spend (Premiums)$1,700,000
  • Savings with PolicySmart-%23%
  • 3-Yr Savings with PolicySmart-$$1,173,000
Industrial Laundry

Industrial Laundry

  • CompanyTartan Textile (acquired)
  • Total Employees1680
  • Annual Sales$480 million
  • Annual Spend (Premiums)$9,200,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$5,244,000
Financial Services

Financial Services

  • CompanyAurora Capital
  • Total Employees900
  • Annual Sales$400 million
  • Annual Spend (Premiums)$2,600,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$1,500,000
Healthcare

Healthcare

  • CompanyCarondelet Health
  • Total Employees1500
  • Annual Sales$100 million
  • Annual Spend (Premiums)$4,000,000
  • Savings with PolicySmart-%25%
  • 3-Yr Savings with PolicySmart-$$3,000,000
Manufacturing

Manufacturing

  • CompanyUnited Plastics Group
  • Total Employees800
  • Annual Sales$300 million
  • Annual Spend (Premiums)$3,500,000
  • Savings with PolicySmart-%50%
  • 3-Yr Savings with PolicySmart-$$5,250,000
Clothing / Fashion

Clothing / Fashion

  • CompanyEileen Fisher
  • Total Employees500
  • Annual Sales$300 million
  • Annual Spend (Premiums)$1,000,000
  • Savings with PolicySmart-%30%
  • 3-Yr Savings with PolicySmart-$$900,000
Publishing

Publishing

  • CompanyPublishers Clearing House
  • Total Employees700
  • Annual Sales$320 million
  • Annual Spend (Premiums)$330,000
  • Savings with PolicySmart-%55%
  • 3-Yr Savings with PolicySmart-$$541,500
Education

Education

  • CompanyLincoln Educational
  • Total Employees1400
  • Annual Sales$325 million
  • Annual Spend (Premiums)$2,519,900
  • Savings with PolicySmart-%30%
  • 3-Yr Savings with PolicySmart-$$2,177,100
Water Purification

Water Purification

  • CompanyAquarion Water
  • Total Employees1000
  • Annual Sales$300 million
  • Annual Spend (Premiums)$1,700,000
  • Savings with PolicySmart-%23%
  • 3-Yr Savings with PolicySmart-$$1,173,000
Industrial Laundry

Industrial Laundry

  • CompanyTartan Textile (acquired)
  • Total Employees1680
  • Annual Sales$480 million
  • Annual Spend (Premiums)$9,200,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$5,244,000
Financial Services

Financial Services

  • CompanyAurora Capital
  • Total Employees900
  • Annual Sales$400 million
  • Annual Spend (Premiums)$2,600,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$1,500,000
Healthcare

Healthcare

  • CompanyCarondelet Health
  • Total Employees1500
  • Annual Sales$100 million
  • Annual Spend (Premiums)$4,000,000
  • Savings with PolicySmart-%25%
  • 3-Yr Savings with PolicySmart-$$3,000,000
Manufacturing

Manufacturing

  • CompanyUnited Plastics Group
  • Total Employees800
  • Annual Sales$300 million
  • Annual Spend (Premiums)$3,500,000
  • Savings with PolicySmart-%50%
  • 3-Yr Savings with PolicySmart-$$5,250,000
Clothing / Fashion

Clothing / Fashion

  • CompanyEileen Fisher
  • Total Employees500
  • Annual Sales$300 million
  • Annual Spend (Premiums)$1,000,000
  • Savings with PolicySmart-%30%
  • 3-Yr Savings with PolicySmart-$$900,000
Publishing

Publishing

  • CompanyPublishers Clearing House
  • Total Employees700
  • Annual Sales$320 million
  • Annual Spend (Premiums)$330,000
  • Savings with PolicySmart-%55%
  • 3-Yr Savings with PolicySmart-$$541,500
Education

Education

  • CompanyLincoln Educational
  • Total Employees1400
  • Annual Sales$325 million
  • Annual Spend (Premiums)$2,519,900
  • Savings with PolicySmart-%30%
  • 3-Yr Savings with PolicySmart-$$2,177,100
Water Purification

Water Purification

  • CompanyAquarion Water
  • Total Employees1000
  • Annual Sales$300 million
  • Annual Spend (Premiums)$1,700,000
  • Savings with PolicySmart-%23%
  • 3-Yr Savings with PolicySmart-$$1,173,000
Industrial Laundry

Industrial Laundry

  • CompanyTartan Textile (acquired)
  • Total Employees1680
  • Annual Sales$480 million
  • Annual Spend (Premiums)$9,200,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$5,244,000
Financial Services

Financial Services

  • CompanyAurora Capital
  • Total Employees900
  • Annual Sales$400 million
  • Annual Spend (Premiums)$2,600,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$1,500,000
Group Benefit Savings
Transportation

Transportation

  • CompanyRoadlink
  • Total Employees800
  • Annual Sales$400 million
  • Annual Spend (Premiums)$4,000,000
  • Savings with PolicySmart-%10%
  • 3-Yr Savings with PolicySmart-$$1,200,000
Frozen Foods

Frozen Foods

  • CompanyAurora Food (acquired)
  • Total Employees2000
  • Annual Sales$1 billion
  • Annual Spend (Premiums)$15,000,000
  • Savings with PolicySmart-%5%
  • 3-Yr Savings with PolicySmart-$$2,250,000
Transportation Company

Transportation Company

  • CompanyCoach USA
  • Total Employees750
  • Annual Sales$300 million
  • Annual Spend (Premiums)$5,500,000
  • Savings with PolicySmart-%20%
  • 3-Yr Savings with PolicySmart-$$3,300,000
Education

Education

  • CompanyLincoln Educational
  • Total Employees1500
  • Annual Sales$300 million
  • Annual Spend (Premiums)$14,000,000
  • Savings with PolicySmart-%15%
  • 3-Yr Savings with PolicySmart-$$6,300,000
Sporting Goods Manufacturer

Sporting Goods Manufacturer

  • CompanyRidell
  • Total Employees1200
  • Annual Sales$600 million
  • Annual Spend (Premiums)$9,000,000
  • Savings with PolicySmart-%5%
  • 3-Yr Savings with PolicySmart-$$1,350,000
Plastics Manufacturer

Plastics Manufacturer

  • CompanyUnited Plastics Group
  • Total Employees800
  • Annual Sales$300 million
  • Annual Spend (Premiums)$4,800,000
  • Savings with PolicySmart-%15%
  • 3-Yr Savings with PolicySmart-$$2,121,000
Financial Services

Financial Services

  • CompanyAurora Capital
  • Total Employees900
  • Annual Sales$400 million
  • Annual Spend (Premiums)$2,600,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$1,482,000
Private Equity

Private Equity

  • CompanyFenway Partners
  • Total Employees1500
  • Annual Sales$310 million
  • Annual Spend (Premiums)$5,000,000
  • Savings with PolicySmart-%12%
  • 3-Yr Savings with PolicySmart-$$1,500,000
Hotels

Hotels

  • CompanyPlaza Hotel
  • Total Employees210
  • Annual Sales$160 million
  • Annual Spend (Premiums)$900,000
  • Savings with PolicySmart-%9%
  • 3-Yr Savings with PolicySmart-$$160,000
Transportation

Transportation

  • CompanyRoadlink
  • Total Employees800
  • Annual Sales$400 million
  • Annual Spend (Premiums)$4,000,000
  • Savings with PolicySmart-%10%
  • 3-Yr Savings with PolicySmart-$$1,200,000
Frozen Foods

Frozen Foods

  • CompanyAurora Food (acquired)
  • Total Employees2000
  • Annual Sales$1 billion
  • Annual Spend (Premiums)$15,000,000
  • Savings with PolicySmart-%5%
  • 3-Yr Savings with PolicySmart-$$2,250,000
Transportation Company

Transportation Company

  • CompanyCoach USA
  • Total Employees750
  • Annual Sales$300 million
  • Annual Spend (Premiums)$5,500,000
  • Savings with PolicySmart-%20%
  • 3-Yr Savings with PolicySmart-$$3,300,000
Education

Education

  • CompanyLincoln Educational
  • Total Employees1500
  • Annual Sales$300 million
  • Annual Spend (Premiums)$14,000,000
  • Savings with PolicySmart-%15%
  • 3-Yr Savings with PolicySmart-$$6,300,000
Sporting Goods Manufacturer

Sporting Goods Manufacturer

  • CompanyRidell
  • Total Employees1200
  • Annual Sales$600 million
  • Annual Spend (Premiums)$9,000,000
  • Savings with PolicySmart-%5%
  • 3-Yr Savings with PolicySmart-$$1,350,000
Plastics Manufacturer

Plastics Manufacturer

  • CompanyUnited Plastics Group
  • Total Employees800
  • Annual Sales$300 million
  • Annual Spend (Premiums)$4,800,000
  • Savings with PolicySmart-%15%
  • 3-Yr Savings with PolicySmart-$$2,121,000
Financial Services

Financial Services

  • CompanyAurora Capital
  • Total Employees900
  • Annual Sales$400 million
  • Annual Spend (Premiums)$2,600,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$1,482,000
Private Equity

Private Equity

  • CompanyFenway Partners
  • Total Employees1500
  • Annual Sales$310 million
  • Annual Spend (Premiums)$5,000,000
  • Savings with PolicySmart-%12%
  • 3-Yr Savings with PolicySmart-$$1,500,000
Hotels

Hotels

  • CompanyPlaza Hotel
  • Total Employees210
  • Annual Sales$160 million
  • Annual Spend (Premiums)$900,000
  • Savings with PolicySmart-%9%
  • 3-Yr Savings with PolicySmart-$$160,000
Transportation

Transportation

  • CompanyRoadlink
  • Total Employees800
  • Annual Sales$400 million
  • Annual Spend (Premiums)$4,000,000
  • Savings with PolicySmart-%10%
  • 3-Yr Savings with PolicySmart-$$1,200,000
Frozen Foods

Frozen Foods

  • CompanyAurora Food (acquired)
  • Total Employees2000
  • Annual Sales$1 billion
  • Annual Spend (Premiums)$15,000,000
  • Savings with PolicySmart-%5%
  • 3-Yr Savings with PolicySmart-$$2,250,000
Transportation Company

Transportation Company

  • CompanyCoach USA
  • Total Employees750
  • Annual Sales$300 million
  • Annual Spend (Premiums)$5,500,000
  • Savings with PolicySmart-%20%
  • 3-Yr Savings with PolicySmart-$$3,300,000
Education

Education

  • CompanyLincoln Educational
  • Total Employees1500
  • Annual Sales$300 million
  • Annual Spend (Premiums)$14,000,000
  • Savings with PolicySmart-%15%
  • 3-Yr Savings with PolicySmart-$$6,300,000
Sporting Goods Manufacturer

Sporting Goods Manufacturer

  • CompanyRidell
  • Total Employees1200
  • Annual Sales$600 million
  • Annual Spend (Premiums)$9,000,000
  • Savings with PolicySmart-%5%
  • 3-Yr Savings with PolicySmart-$$1,350,000
Plastics Manufacturer

Plastics Manufacturer

  • CompanyUnited Plastics Group
  • Total Employees800
  • Annual Sales$300 million
  • Annual Spend (Premiums)$4,800,000
  • Savings with PolicySmart-%15%
  • 3-Yr Savings with PolicySmart-$$2,121,000
Financial Services

Financial Services

  • CompanyAurora Capital
  • Total Employees900
  • Annual Sales$400 million
  • Annual Spend (Premiums)$2,600,000
  • Savings with PolicySmart-%19%
  • 3-Yr Savings with PolicySmart-$$1,482,000
Private Equity

Private Equity

  • CompanyFenway Partners
  • Total Employees1500
  • Annual Sales$310 million
  • Annual Spend (Premiums)$5,000,000
  • Savings with PolicySmart-%12%
  • 3-Yr Savings with PolicySmart-$$1,500,000
Hotels

Hotels

  • CompanyPlaza Hotel
  • Total Employees210
  • Annual Sales$160 million
  • Annual Spend (Premiums)$900,000
  • Savings with PolicySmart-%9%
  • 3-Yr Savings with PolicySmart-$$160,000

Costs & Fees

Our fee is 100% performance based.

If we don’t save you money while maintaining or improving your coverage, you don't pay!

Ready To Get Started?

Book a call and begin assembling policy documents. See section 7 for details.

Book a Call and one of our team members will be in touch to discuss your confidential risk assessment. Before the call, please organize all documents into one folder on your computer, google drive, or dropbox so we have them ready on the call.

Book a call

Required Policy Documents

Below is a breakdown of the documents we need for P&C insurance, Group Benefits and Retirement.

  • logoProperty & Casualty Documents:

    Schedule of Insurance for all insurance policies. This is usually prepared by the broker-or-record or copies of current policies or a recent broker proposal.

    Will include: policy type, policy dates, premiums, limits, insurance carrier names, deductibles.

    *This is usually prepared by the broker-or-record.

  • logoGroup Benefit Documents:

    Copy of the most recent insurance carrier medical renewal letter the CFO received from the insurance company (e.g., Blue Cross, United Health Care, Aetna, etc.). Usually, PDF format

    Copy of the broker proposal that included the renewal (last years or the current year), showing terms/plan designs, co-pays for medical, dental, disability and life.

    Self-Funded Medical: Copy of the current “stop-loss” agreement. Also referred to as the “ASO” (administrative services only) agreement that the CFO and/or CEO signed.

  • logoRetirement / 401(k) Documents:

    Copy of the 408(b)2 fee schedule that plan vendors are charging (e.g., Empower, Fidelity, Schwab, CHASE, etc.). Every year clients receive this fee schedule. Either the CFO has or HR has it. Usually a PDF file.

    Listing of assets under management (AUM)

    Copy of any recent vendor or advisory proposal.

Frequently Asked Question

  • How much time does it take to sign up for a benchmark?

    The registration process will take no more than 10 minutes to secure basic information.

  • How long does the benchmarking process take?

    The benchmarking results will be available within two to three days.

  • How much money has PolicySmart saved clients so far?

    PolicySmart has saved clients over $130 million to date!

  • What about the financial rating of insurance companies?

    Our engagement letter will contain a written portion stating that any participating insurance company will have a minimum of A.M. Best “A–X” Category.

  • Will coverage remain the same?

    Your coverage will either remain the same or improve; we guarantee that your coverage, deductibles, limits, etc., will be similar to or better than what you currently have.

  • Are the savings valid for more than one year?

    Yes, secure savings for five years. Furthermore, during our continual expansion of the The CMR Database®, it is likely that we will find additional broker specialist matches that will increase your savings and lower your premiums during the terms of our consulting engagement.

  • Is the benchmarking confidential? Will my current broker be informed?

    The benchmarking is completely confidential. We compare basic rating characteristics contained within your portfolio to what similar companies in your industry are paying both nationally and internationally. The results will expose how differences in geographical location/entry point result in pricing disparities on the carrier level.

  • My broker claims to have shopped my account aggressively – How could PolicySmart expand my options?

    All brokers have different relationships with their insurance companies, and even the largest brokers tend to favor certain carriers. Our benchmarking process will optimize your search by providing an objective, national comparison of your quantitative rate ranges to that of other clients in your industry category.

  • Do I need to change my renewal date(s)?

    No, many of our clients keep their original renewal dates if they determine that it is advantageous to do so. Some clients do choose to consolidate scattered renewal dates into a single master date.

  • Can I work with both PolicySmart and my current broker?

    Yes, your broker always has the opportunity to respond to PolicySmart’s final report. By collaborating with incumbent brokers, we are able to effectuate lower premiums, and improve both coverage and servicing.

  • What if PolicySmart’s recommendations are quantitatively superior?

    There are usually three components to a satisfactory insurance program: price, coverage and service. If you decide to change brokers or carriers as a result of PolicySmart’s review, be assured that we will invest significant time in reviewing the details of what the new broker and/or carrier will be doing for you from a servicing standpoint. PolicySmart will commit to this in a written plan, complete with timelines. Additionally, we will work closely with you on a quarterly basis to ensure the success of your transition or renegotiation.

  • Why can’t I rely on a broker for insurance benchmarking information?

    Many clients use various methods to benchmark their existing insurance costs. One way is to go through the time-consuming process of interviewing and evaluating brokers. However, this is usually a localized effort that subsequently yields only local underwriting comparisons. PolicySmart extends that benchmarking effort regionally, nationally, and internationally by matching your company’s specific requirements to specialty brokers and direct writers. We take the interviewing process off of your desk and put it onto ours. The insurance and retirement industries are very fragmented in the way they deliver product; our methodology makes the delivery process more efficient and beneficial for the client. PolicySmart matches a client’s NAICS code to a broker’s area of specialty (their industry categories) on an expanded geographic basis. For example, a publishing client in Manchester might be paying $1.78 per $1,000 of revenue for their Commercial Liability premium, whereas PolicySmart could source another non-local broker with publishing clients who are paying $1.25 per $1,000 with different insurance company options. PolicySmart has researched 13,000 Property/Casualty, Group/Benefits and retirement specialists, and direct writers in 120 countries. We have organized this data by criteria such as: NAICS codes, premium volume, profitability of premiums, deductibles, assets under management, limits, number of employees, group size ranges, self-funding expertise, TPAs, etc. To our knowledge, no one else has developed such an extensive research resource. Our database is a registered trademark (The CMR Database®)

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