How We Reduce Costs
Without question, employee benefits and insurance can have a significant impact on the income statements of portfolio companies. Especially when left unchecked.
There is no one solution that leads to cost reduction. It takes the appropriate focus, knowledge and carrier relationships to effectively mitigate costs. Our customized client experience allows us to provide comprehensive analysis and creative solutions for cost management.
Performance-Based Compensation
An insurance industry fact: when premiums go up, so does the compensation to the insurance broker. At Bryson Financial, we have adopted a more client-centric approach. Instead of compensation that is only based on a percentage of the premium, we have designed a compensation model directly tied to our ability to lower your insurance spend. We call it Performance Edge™ and our clients love it because they know what gets measured gets done.
Life-Cycle Cost Design
Insurance is far more strategic than business leaders allow it to be. Too often, management teams wait until the last minute on insurance renewals and have few options to make substantive change.
At Bryson, we take a life-cycle approach that ultimately builds to a liquidity event. We work with management teams to introduce and help them adopt Best in Class strategies that contribute to lower insurance premiums over time. With the right planning, costs can be managed and even reduced.
Aggregate Pricing
For some portfolios, bundled pricing provides a great opportunity to improve coverage and lower costs.
Some insurance brokers will hype this approach, while others will dismiss it. At Bryson, we look at aggregate pricing as a powerful strategic tool that, when used appropriate, can dramatically lower insurance costs.
Competition
We encourage it.
Too many Private Equity firms have a locked-in relationship with a broker and they "set it and forget it." Or, they leave it to management teams who, quite frankly, are more apt to mismanage benefits and insurance. Both approaches are a prescription for higher fees and a lower level of coverage.
Competition is at the heart of our cost reduction strategies. With our carrier relationships and our strategic approach, we bring a competitive advantage to our Private Equity clients.
