QUEST ASSET MANAGEMENT INC

5757 W LOVERS LN, STE 360
DALLAS, TX 75209

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.
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 97% of peers.
  • In the last year, premium Increased by 22%. While peers Increased an average of 0%.
Needs Attention

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 6th percentile compared to peers.
  • In the last year, LCM Decreased by 19%. While peers Increased an average of 1%.
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.

  • 13% of peers have changed carriers since last year. Those who did, saw a 7% decrease in premium vs those who stayed with their current provider had a 1.2% increase, roughly 6x those who stayed with their current provider.
  • Current Carrier's market share is in the 1st percentile at 0.2% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.571
2021

1.945
2020

1.945
2019

1.571
2018

1.945
2017

1.945
2014

-

Contacts

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President
(043) 542-8434
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Industry Classification