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

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

FVTDDRV JWOR
Benefits Admin
(379) 528-0947
fd2

TPLLP YDFFTMCY
Benefits Admin
(096) 535-4000
0f4

ZWWS N BFCUCDE VB
Benefits Admin
(256) 716-3321
e6df

TNTD LHGUZBY
Benefits Admin
(869) 471-9296
5511d

VUTVRJF VGULDP DRWTCIU
Benefits Admin
(396) 545-4652
5f1dd

IMCO FUPVYB, LIO XGYE, XDT.
Benefits Admin
(555) 564-2819
ef99

e
(887) 204-4089
e98

SQBPLER ZOMWLECG
Benefits Admin
(553) 342-4736
ea836

6
(864) 689-9792
e9596

VJTMUO EVGBL
Benefits Admin
(600) 161-6570
22d7

Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 259,092
Liabilities: $ 0 $ 547
EE Contrib: $ 466,042 $ 744,659
Emp Contrib: $ 0
Income/Loss: $ 62,969 $ 40,600
Total Income: $ 529,011 $ 436,915
Paid Benefits: $ 92,537 $ 76,512
Expenses: $ 0
  Commission: $ 6,718 $ 9,657
Net Income: $ 429,756 $ 805,533
Net Assets: $ 688,848 $ 711,499

Participants

20212020
Total Participants:10343
Active Part.:8074
Retired Part.:e
Deceased Part.:a

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.