Mantel Technologies, Inc.

PO BOX 1798
RICHMOND HILL, GA 31324

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
Needs Attention

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Very Good, in the 17th percentile compared to peers.
  • In the last year, premium Decreased by 1%. While peers Increased an average of 0%.
Average

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is Very Good, in the 8th percentile compared to peers.
  • In the last year, LCM Increased by 6%. While peers Increased an average of 6%.
Average

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 7% of peers have changed carriers since last year. Those who did, saw a 16.9% decrease in premium vs those who stayed with their current provider had a 1.2% increase, roughly 14x those who stayed with their current provider.
  • Of those who changed carriers, 2.6% increased their LCM vs those who stayed with their current provider who saw a 6.6% increase.
  • Current Carrier's market share is in the 95th percentile at 9.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2024

0.900
2024

1.330
2024

-
2024

-
2024

1.000
2023

0.900
2023

1.256
2023

1.000
2023
09-23-2023

-
2022

0.900
2022

-
2022

1.000
2021

0.900
2020

-
2019

-
2018

-

Contacts

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Director, Finance And Contracts
(923) 923-8115
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Mctlaj Atekp
Director of Business Operations
(723) 162-8014
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President & CEO
(438) 159-5766
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Benefits Admin
(121) 517-9801
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Industry Classification

Retirement Benefits

Financials

20222021202020192018
BOY Assets: $ 462,788 $ 179,706 $ 658 $ 29,637
Liabilities: $ 0 $ 28 $ 8
EE Contrib: $ 150,184 $ 267,252 $ 42,171 $ 42,596 $ 50,007
Emp Contrib: $ 103,908 $ 52,235 $ 68,386 $ 92,722 $ 7,048
Income/Loss:($ 64,967) $ 31,988 $ 66,598 $ 8,832($ 9,434)
Total Income: $ 189,125 $ 461,181 $ 427,003 $ 778,282 $ 44,062
Paid Benefits: $ 7,295 $ 885,172 $ 245 $ 3,302 $ 68
Expenses: $ 0
  Commission: $ 779 $ 501 $ 558 $ 77 $ 9
Net Income: $ 181,051 $ 90,560 $ 998,064 $ 287,428 $ 28,087
Net Assets: $ 643,839 $ 233,981 $ 698,538 $ 637,399 $ 69,738

Participants

20222021202020192018
Total Participants:3594703385
Active Part.:323043241
Retired Part.:bc3 fa32ae
Deceased Part.:dcfedc1d

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.