Insurance Optimization
Stop Overpaying for Insurance While Being Underprotected
Strategic insurance program design, cost optimization, and coverage alignment with your business profile and needs.
The Challenge
Many companies with more than $100 million in revenue do not have a dedicated risk manager, despite the need for the expertise. Instead, insurance oversight falls to someone in the General Counsel’s office or on the CFO’s team. For them, insurance represents 20 to 25 percent of their responsibilities, while their primary role occupies the rest. As a result, they often cannot explain why coverage limits or retentions were set at particular levels.
They lack insight into broker compensation structures and the incentives they create. They are unfamiliar with effective claims management and strategic insurance program design. Having never served as senior risk executives, they don’t know what they don’t know. Meanwhile, the company spends millions on insurance without confidence that it has the right coverage at the right price.
Our Approach
We perform a thorough review of your insurance program that goes well beyond a standard presentation. Our process includes:
- Program structure analysis: Evaluate limits, retentions, counterparties, coverage gaps and policy language
- Broker compensation review: Ensure your broker’s incentives align with your objectives
- Claims management assessment: Identify opportunities to improve how claims are handled
- Market positioning study: Confirm that your rates are competitive for your risk profile and the marketing is effective
- Captive feasibility analysis: Explore whether alternative risk financing makes sense
- Broker RFP management: If required, select and partner with best-in-class brokers
This review is not about cutting coverage, changing brokers or dismissing all the progress that has been made. It is about aligning your insurance program with your actual risk profile and business needs.
What You Get
- Cost savings often ranging from 10 to 25 percent, with some clients achieving 50 percent or more
- Enhanced coverage that delivers protection when claims arise
- Complete transparency around broker compensation and incentives
- Strategic improvements that extend beyond premium reduction
- Ongoing support at renewal to maintain momentum and prevent backsliding
- Low management burden, with full program reviews completed in 60 to 90 days
Results are not solely about reducing premiums. Some clients save 50 percent, others save 15 percent, and some realize minimal premium reduction but exit with a program that will perform far better in the event of a claim. Our goal is resilience, cost efficiency, and leadership confidence that the insurance program matches the needs of the company.
Who This Is For
- Companies spending $500,000 or more annually on insurance without a dedicated risk manager
- Organizations where insurance is handled by someone with other primary responsibilities
- Businesses that have not reviewed their program structure in more than two years
- Leadership teams uncertain whether they are getting value from their insurance spend
- Companies preparing for major transactions, capital raises or strategic shifts
Why Choose 221b
We have managed insurance programs for Fortune 500 companies and know what excellence looks like. We have met with and negotiated with carriers, managed complex claims and defended insurance strategies before boards and senior executives. This is not a consultant’s theory but a practitioner’s playbook. We understand how to build programs that perform when you need them.
Want to learn more about specific insurance coverage types? Explore our free Resource Library with primers on property, casualty, cyber, D&O, and more.
Ready to Optimize Your Insurance Program?
Schedule a complimentary 30-minute Discovery Session to discuss your insurance strategy.