PROWILL LLC

122 OLD AIRPORT RD
LAGRANGE, GA 30240

Talking Points

For the Agent

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

  • Premium increased after the policy was bound. Did payroll jump for some reason or was a credit removed?
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 in-line with peers, in the 58th percentile.
  • In the last year, premium Increased by 3%. While peers Increased an average of 3%.
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 7th percentile compared to peers.
  • In the last year, LCM Decreased by 26%. While peers Increased an average of 9%.
Good

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 15.1% decrease in premium vs those who stayed with their current provider had a 4% increase, roughly 4x those who stayed with their current provider.
  • Of those who changed carriers, 1.5% decreased their LCM vs those who stayed with their current provider who saw a 9.6% increase.
  • Current Carrier's market share is in the 50th percentile at 0.6% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.360
2021

1.850
2020

1.850
2019

1.850
2019
12-02-2018

1.850
2018

1.850
2017

1.850
2016

1.850
2015

1.850
2014

1.850

Contacts

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Principal
(445) 966-7530
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(642) 755-4032
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Industry Classification