WURKFORCE INC

2162 MARKET ST
DENVER, CO 80205

Talking Points

For the Agent

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

  • Premium decrease and carrier tier change may indicate competitive situation and incumbent prevailed.
  • 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 Higher than 85% of peers.
  • In the last year, premium Decreased by 27%. While peers Increased an average of 11%.
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.

  • 8% of peers have changed carriers since last year. Those who did, saw a 15.3% decrease in premium vs those who stayed with their current provider had a 12.9% increase.
  • Current Carrier's market share is in the 75th percentile at 7.6% of the market.
Good

Business Stats

County
FEIN
Bureau ID
Renewal Mod
PEO
Employees
Sales
OSHA Violations
OSHA Penalty Amount
Drivers
Power Units
Auto Carrier

Policy History

Term Carrier Premium LCM
2023

0.753
2023

1.941
2023
11-29-2022
1.510
2022

-
2022

2.500
2022

1.830
2022

1.950
2022

2.101
2022

-
2022

-
2022

-
2022

1.780
2022

1.510
2022

1.520
2022

1.687
2021

-
2021

1.700
2021

2.160
2021

2.050
2021

2.380
2021

-
2021

-
2021

1.690
2021

1.720
2021

1.801
2020

-
2020

1.600
2020

2.380
2020

-
2020

-
2020

1.690
2019

1.120
2019
12-01-2019
-
2018

-
2017

-

Contacts

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Benefits Admin
(737) 185-4339
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Benefits Admin
(581) 569-6445
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Benefits Admin
(443) 500-1766
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Benefits Admin
(200) 499-1758
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Benefits Admin
(826) 132-4799
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Benefits Admin
(587) 157-2320
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(728) 873-8764
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Benefits Admin
(347) 278-1844
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(903) 128-3960
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Benefits Admin
(205) 655-7364
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Industry Classification

Industry
Class
 Auditor, Accountant, or Computer System Designer or Programmer--Traveling
Loss Cost
NAICS
 Software Publishers
SIC
 Prepackaged Software
Related GL Codes* 41675
Computer Consulting or Programming
43151
Computer Data Processing--Operations
43152
Computer Data Processing--Time Sharing
51942
Computer Software Mfg.--Pre-Packaged
41677
Consultants
58627
Media Mfg.--Pre-Recorded
Related Class Codes*
Related SIC Codes*

Retirement Benefits

Financials

20212020
BOY Assets: $ 259,092 $ 2
Liabilities: $ 0 $ 2
EE Contrib: $ 466,042 $ 23,076
Emp Contrib: $ 0 $ 1
Income/Loss: $ 62,969 $ 54,065
Total Income: $ 529,011 $ 837,371
Paid Benefits: $ 92,537 $ 81,759
Expenses: $ 0
  Commission: $ 6,718 $ 1,891
Net Income: $ 429,756 $ 383,307
Net Assets: $ 688,848 $ 32,412

Participants

20212020
Total Participants:10368
Active Part.:8070
Retired Part.:c
Deceased Part.:0d0

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    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.

    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.

    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.

Class Codes - Just The Start


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