VELOCITY DYNAMICS LLC

1460 NW OLYMPIC DR STE D
GRAIN VALLEY, MO 64029

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.
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 1st percentile compared to peers.
  • LCM Decreased by more than 75% of peers.
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.

  • 10% of peers have changed carriers since last year.
  • Of those who changed carriers, 11% decreased their LCM vs those who stayed with their current provider who saw a 4.9% increase, a difference of roughly 2x.
  • Current Carrier's market share is in the 99th percentile at 45.6% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022
PEO
-
2022
PEO
1.021
2022
PEO
0.850
2022
PEO
1.234
2022
PEO
1.104
2021
PEO
-
2021
PEO
-
2021
PEO
-
2021
PEO
1.021
2021
PEO
1.234
2021
PEO
1.104
2020
PEO
-
2020

1.400
2020
PEO
1.234
2020
PEO
1.486
2020
01-01-2020

0.000
2020
03-07-2020

1.390
2019

-
2019
11-18-2019

2.000
2018

-
2018
11-18-2018

-
2017

-
2017

-
2016

-
2015

-
2014

-
2013

-
2013

-
2013
05-26-2013

-
2012

-
2012

-

Contacts

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Benefits Admin
(081) 893-2749
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President
(254) 354-4279
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Benefits Admin
(980) 186-9873
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Benefits Admin
(639) 725-7668
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501
(618) 323-8834
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Industry Classification

Retirement Benefits

Financials

20202019201520142013
BOY Assets: $ 284,608 $ 324,381 $ 95,297 $ 51,519 $ 2
Liabilities: $ 0 $ 96 $ 1 $ 2
EE Contrib: $ 265,694 $ 39,683 $ 29,597 $ 5,729 $ 14,166
Emp Contrib: $ 0 $ 4 $ 61 $ 37,200
Income/Loss: $ 74,312 $ 84,306($ 5,315) $ 4,295 $ 787
Total Income: $ 340,006 $ 436,192 $ 83,089 $ 93,795 $ 27,022
Paid Benefits: $ 0 $ 1,324 $ 4,642 $ 66,908
Expenses: $ 0 $ 2 $ 817 $ 4
  Commission: $ 0 $ 6 $ 67 $ 144 $ 724
Net Income: $ 340,006 $ 335,853 $ 42,649 $ 3,165 $ 33,466
Net Assets: $ 624,614 $ 531,829 $ 30,616 $ 58,096 $ 98,875

Participants

20202019201520142013
Total Participants:4770907919
Active Part.:47669671a
Retired Part.:a1eb4036116
Deceased Part.:2b2e3bba3

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    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.