HYBRIDGE SOLUTIONS INC

PO BOX 1077
INMAN, SC 29349

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Needs Attention

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 in-line with peers, in the 39th percentile.
  • In the last year, LCM Increased by 3%. While peers Increased an average of 3%.
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.
  • Of those who changed carriers, 13.4% decreased their LCM vs those who stayed with their current provider who saw a 4.4% increase, a difference of roughly 3x.
  • Current Carrier's market share is in the 99th percentile at 33.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

4.565
2023

3.860
2023

1.507
2023

2.496
2023

1.174
2023

1.028
2023

-
2023

1.298
2023

-
2023

2.132
2023

1.622
2023

1.206
2023

1.822
2023

1.927
2023

2.290
2023

1.212
2023

1.558
2023

1.172
2023

1.154
2023

1.184
2022

1.450
2022

4.059
2022

3.861
2022

1.451
2022

2.140
2022

1.028
2022

-
2022

1.121
2022

-
2022

-
2022

1.420
2022

-
2022

1.730
2022

1.950
2022

1.098
2022

1.407
2022

1.966
2022

1.140
2022

1.154
2022

1.099
2021

2.140
2021

1.174
2021

3.683
2021

1.244
2021

1.451
2021

3.770
2021

1.028
2021

-
2021

1.056
2021

-
2021

-
2021

1.740
2021

1.950
2021

-
2021

1.081
2021

1.305
2021

1.744
2021

1.140
2021

1.154
2021

1.001
2020

1.244
2020

2.689
2020

0.911
2020

1.893
2020

-
2020

1.498
2020

1.200
2020

-
2020

0.880
2020

-
2020

1.700
2020

1.950
2020

1.081
2020

-
2020

0.932
2020

1.001
2020
05-15-2020

-
2019

-
2019

1.142
2019

1.244
2019

1.612
2019

2.839
2019

-
2019

2.006
2019

-
2019

0.880
2019

2.093
2019

-
2019

-
2019

1.630
2019

1.810
2019

1.950
2019

1.446
2019

-
2019

0.932
2019

2.490
2019

1.000
2019

1.433
2019
05-15-2018

2.084
2019
05-15-2018

2.329
2019
05-15-2018

-
2019
05-15-2018

-
2019
05-15-2018

1.095
2019
05-15-2018

1.491
2019
05-15-2018

2.470
2018

2.329
2018

-
2018

-
2018

1.000
2018

1.491
2018

-
2018

2.093
2018

-
2018

-
2018

2.328
2018

1.446
2018

-
2018

1.711
2018

1.433
2018
05-15-2017

2.719
2017

2.329
2017

1.000
2017

-
2017

-
2017

-
2017

2.093
2017

-
2017

-
2017

2.219
2017

1.315
2017

2.719
2017

2.171
2017

1.711
2017

1.433
2016

-
2016

1.333
2016

-
2016

-
2016

2.093
2016

-
2016

2.219
2016

1.315
2016

2.719
2016

-
2016

2.171
2016

1.555
2016

1.433
2015

-
2015

1.333
2015

-
2015

-
2015

-
2015

-
2015

-
2015

2.219
2015

2.719
2015

-
2015

-
2015

-
2015

1.433
2014

-
2014

-
2014

-
2014

-
2014

1.387
2014

-
2014

-
2013

-
2012

-
2012

-

Contacts

CZOCPRK FUQELH
Benefits Admin
(755) 329-2807
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(676) 254-7808
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Infor Lawson Human Capital Manag
(000) 541-9368
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(149) 823-6513
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Infor Lawson Human Capital Manag
(956) 660-9447
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(363) 096-3566
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Benefits Admin
(920) 661-4281
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Infor Lawson Human Capital Manag
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XBXIQHXP BUDGKZA
CEO
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 6,425,224 $ 2,605,664 $ 9,719,947 $ 4,640,179 $ 3,589,790 $ 4,325,385 $ 8,721,112 $ 6,668,677 $ 565,801 $ 14,092 $ 419,516 $ 577,953
Liabilities: $ 0 $ 36 $ 3 $ 6 $ 694 $ 3 $ 960
EE Contrib: $ 585,537 $ 627,729 $ 780,485 $ 198,362 $ 235,172 $ 322,494 $ 185,257 $ 677,756 $ 510,363 $ 24,144 $ 41,029 $ 20,033
Emp Contrib: $ 260,553 $ 930,355 $ 743,668 $ 794,519 $ 484,245 $ 308,807 $ 87,113 $ 56,933 $ 27,368 $ 22,107 $ 10,940 $ 69,567
Income/Loss: $ 921,557 $ 854,206 $ 500,324($ 114,192) $ 688,387 $ 960,949($ 23,280) $ 59,989 $ 727,645 $ 16,407($ 92,914) $ 16,424
Total Income: $ 1,767,647 $ 7,024,618 $ 152,513 $ 336,836 $ 4,728,284 $ 610,599 $ 299,930 $ 919,786 $ 210,375 $ 817,665 $ 34,813 $ 194,451
Paid Benefits: $ 854,701 $ 724,864 $ 45,755 $ 14,399 $ 892,093 $ 8,573 $ 20,192 $ 85,627 $ 64 $ 4,264 $ 7
Expenses: $ 0 $ 6 $ 9 $ 6 $ 3
  Commission: $ 325 $ 635 $ 150 $ 437 $ 236 $ 282 $ 848 $ 5 $ 53
Net Income: $ 912,621 $ 3,965,265 $ 8,848,481 $ 533,039 $ 114,873 $ 138,820 $ 504,271 $ 461,236 $ 44,935 $ 563,598 $ 558 $ 524,180
Net Assets: $ 7,337,845 $ 47,467 $ 3,305,920 $ 9,165,424 $ 96,030 $ 3,769,475 $ 8,091,786 $ 5,815,136 $ 1,405,301 $ 184,311 $ 988,401 $ 332,599

Participants

202120202019201820172016201520142013201220112010
Total Participants:722237247017561778097110
Active Part.:5988416085328446c8f5c000
Retired Part.:ee4c07d8d79d30a0ac
Deceased Part.:175a26f5b6d19e2f5bd592

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.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    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.

    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.