Negotiating Renewal Rates

A case study of a 1206 employee auto insurance carrier that wanted help reviewing its renewal rate. An auto insurance company’s medical carrier proposed a 10% rate increase at renewal. Paradigm Group’s underwriting team reviewed the client’s claims and determined that the data indicated that no rate increase was warranted. The underwriting and account management teams worked with multiple insurance carriers to obtain competitive quotes for comparable benefits. By using this marketplace data and challenging the carriers’ underwriting methodology, the team successfully negotiated a lower renewal rate with a new carrier.