Automated Industrial Systems Inc

4238 W 12th St
Erie, PA 16505

Talking Points

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
  • 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

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is very good. It is in the 13th percentile compared to peers.
  • There was a recent mod decrease.
Good

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 13th percentile compared to peers.
  • LCM Increased by more than 75% of peers.
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.

  • 12% of peers have changed carriers since last year.
  • Of those who changed carriers, 1.3% decreased their LCM vs those who stayed with their current provider who saw a 1.6% increase.
  • Current Carrier's market share is in the 95th percentile at 13.4% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022
12-01-2021

1.279
2021

1.218
2020

1.183
2019

1.183
2018

1.226
2017

1.290
2016

1.259
2015

1.259
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

Lafnel K Hqoixymbqlmq
President
(238) 516-5408
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Benefits Admin
(670) 370-0556
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Benefits Admin
(410) 343-4812
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CEO
(353) 976-7898
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Industry Classification

Retirement Benefits

Financials

202220212020201920182017201620152014201320122011
BOY Assets: $ 2,144,272 $ 3,124,594 $ 8,978,958 $ 1,759,280 $ 8,129,335 $ 3,475,909 $ 6,546,588 $ 1,780,091 $ 2,163,916 $ 9,080,177 $ 3,223,265 $ 9,852,991
Liabilities: $ 0 $ 211 $ 51 $ 15 $ 5 $ 3 $ 3 $ 1 $ 4
EE Contrib: $ 45,188 $ 90,754 $ 467,690 $ 94,720 $ 30,414 $ 64,669 $ 58,210 $ 81,050 $ 58,787 $ 33,904 $ 81,139 $ 19,393
Emp Contrib: $ 9,070 $ 4,799 $ 92,792 $ 99,600 $ 31,053 $ 6,579 $ 58,987 $ 32,755 $ 37,748 $ 600 $ 96,891 $ 38,177
Income/Loss:($ 101,000) $ 903,946 $ 97,562 $ 3,474 $ 75,537 $ 387,792 $ 172,825($ 2,201) $ 843,741 $ 506,589 $ 92,854 $ 29,692
Total Income:($ 46,742) $ 761,157 $ 690,073 $ 74,194 $ 474,143 $ 118,785 $ 886,738 $ 9,527 $ 277,127 $ 733,377 $ 289,521 $ 62,586
Paid Benefits: $ 2,097,530 $ 41,360 $ 825,081 $ 505,646 $ 1,331 $ 29,316 $ 534,931 $ 838 $ 860,272 $ 193 $ 8,385
Expenses: $ 0 $ 99 $ 491 $ 1 $ 1 $ 7 $ 24 $ 4 $ 513 $ 8
  Commission: $ 0 $ 402 $ 9 $ 6 $ 6 $ 27
Net Income:($ 2,144,272) $ 377,675($ 401,951)($ 49,926) $ 562,271 $ 429,583($ 4,327) $ 77,404 $ 55,674 $ 839,320 $ 591,622 $ 93,752
Net Assets: $ 0 $ 7,446,639 $ 527,967 $ 819,007 $ 5,921,935 $ 964,505 $ 3,685,741 $ 9,788,965 $ 7,389,729 $ 7,371,959 $ 7,506,056 $ 4,112,643

Participants

202220212020201920182017201620152014201320122011
Total Participants:3543816653714741596467
Active Part.:80360361963428dec30e
Retired Part.:11b44a7175cb59e871d719a
Deceased Part.:40d17c82dc927ef82239

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    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.

    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.