Family Office Exchange LLC

100 S Wacker Dr, Ste 800
Chicago, IL 60606

Talking Points

For the Agent

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

  • Premium decreased after the policy was bound. Did payroll drop, or a last minute credit?
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 Higher than 92% of peers.
  • In the last year, premium Decreased by 16%. While peers Increased an average of 4%.
Needs Attention

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 17.6% decrease in premium vs those who stayed with their current provider had a 6.1% increase, roughly 3x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 45.8% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2024

-
2023

-
2023

-
2023

-
2023

-
2023

-
2023

-
2023

-
2022

1.023
2022

-
2022

-
2021

1.010
2020

-
2019

-
2018

-
2017

-
2015
PEO
-
2014
PEO
-

Contacts

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Founder and CEO
(579) 029-6871
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Chief Executive Officer
(644) 824-1620
bmqe@nksvwhjoknvl.aae

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Benefits Admin
(724) 267-5221
75406

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Benefits Admin
(764) 847-3438
1696

Industry Classification

Retirement Benefits

Financials

202120202019201820172016
BOY Assets: $ 2,247,753 $ 2,870,626 $ 390,767 $ 1,054,376 $ 418,054 $ 3
Liabilities: $ 0 $ 6 $ 869 $ 439 $ 1 $ 0
EE Contrib: $ 308,719 $ 693,761 $ 231,200 $ 717,716 $ 32,154 $ 2,053,123
Emp Contrib: $ 0 $ 717 $ 9 $ 2 $ 2
Income/Loss: $ 308,555 $ 431,324 $ 515,026($ 621,493) $ 596,690 $ 13,489
Total Income: $ 617,274 $ 212,249 $ 450,552 $ 746 $ 618,735 $ 5,056,455
Paid Benefits: $ 133,295 $ 60,056 $ 1,732 $ 445,555 $ 37,282 $ 466,883
Expenses: $ 0 $ 1 $ 8 $ 3 $ 9
  Commission: $ 2,169 $ 1,817 $ 3,639 $ 39 $ 786 $ 758
Net Income: $ 481,810 $ 523,027 $ 751,647($ 406,623) $ 415,029 $ 25,864
Net Assets: $ 2,729,563 $ 399,487 $ 3,840,132 $ 2,506,519 $ 1,264,501 $ 597,687

Participants

202120202019201820172016
Total Participants:571182232789
Active Part.:433094979054
Retired Part.:edad611c
Deceased Part.:6766fcfc72

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.

    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.

    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.