Metropolitan Risk was founded for one primary reason, to protect mid-size businesses. The problems that mid-size businesses encounter are that they are vastly under served by traditional insurance/brokerage firms in the Metropolitan New York region. Smaller companies risks are thrown into a larger insurance pot to offset risks and have the vast majority of the brokerage community to transact the purchase of insurance costs and risks. This is essentially all these smaller companies require. Large fortune 1000 companies that are publicly traded have the security of their expensive overhead to deliver both risk management AND insurance.
What is the solution for middle size companies that have grown above small business standards but are not publicly traded? Metropolitan Risk is a unique boutique firm built to provide solutions to middle market companies the services provided to Fortune 1000 companies without the cost associated with it. Our entire platform is built to proactively manage the risk of these middle market companies 365 days a year. We don’t just set the insurance platform and forget our clients until the renewal date. It’s our mission to drive substantive results to our clients, and bring down all of the costs associated with risk including the insurance risk.
THE CORE OF OUR STRATEGY:
TCOR or Total Cost of Risk is a methodology we apply to business’ to identify and solve for those friction points within a business that presents significant cost savings opportunity which is often overlooked. Most businesses understand the majority of the risk to their balance sheet lay outside hazard risk (property & casualty losses covered by insurance). What most companies don’t understand is that 80% of their frictional costs are outside the cost of insurance. Insurance is just 20% of their total cost. The real opportunity for savings is not in reducing the insurance premium, but by reducing the “on balance sheet frictional costs.” The reason this occurs is because most companies and the majority of insurance broker’s that serve this market don’t know how to find and solve for these frictional costs.
Ask your incumbent broker what’s their strategy for the upcoming year on your account? Most will say to get you a reduction in your insurance premium? High insurance premiums are a symptom of a larger problem, your account performance of insurance profitability.
Our clients understand the price they pay on insurance is directly impacted by how well their account performs (losses). By treating the disease and not the symptom we partner with our clients seeking to impact the performance of their account, not transact their insurance purchase, ultimately and substantially driving down their direct cost (insurance premium) and Indirect friction costs. In succeeding on behalf of our clients we are able to add back points in their profit margin making them far more competitive in their native marketplace.
In short, your success is our success, partner with us because we have a very specific time tested strategy to deliver mutually agreed up results, especially as it relates to Workers Compensation & General Liability Insurance Products.