CRIO

Real Transparency>>

CRIO is unique because our service model was designed from the client's perspective to ensure that we always put your interests before our own. This starts with real transparency about compensation. Full, voluntary and honest transparency is very important, because all for-profit companies make decisions based on how they earn compensation. While all brokers talk about transparency, we actually deliver it.

At CRIO, all client recommendations are based solely upon what is best for you without regard for the impact of that decision on our revenue stream or earnings. This core philosophy permeates every facet of our organization. We believe that implementing strategies that reduce your total cost of risk and, sometimes along with it, our revenue is a positive outcome that will make CRIO a more stable firm by creating strong, long-term relationships with our clients. Strong relationships based on a foundation of delivering real, tangible value creates low client turnover. This, in turn, allows us to invest our time and resources to enhance the scope and breadth of services we deliver to you instead of focusing on sales activities.

Based on this philosophy, we designed a service model that eliminates the conflicts of interests that are inherent in the traditional business model used by many insurance brokers. Below are four notable examples of how we differentiate ourselves from the rest of the industry.

1. We thoroughly explore all available options for managing your risk, which includes both risk transfer and risk retention strategies. If the results of our analysis show that the best and most cost effective solution is for you to retain more risk by implementing a large self insured retention or utilizing a captive insurance company, then we will recommend that solution even though it may reduce our income by eliminating or reducing the amount of insurance you buy through our firm.
2. We do not accept contingent compensation from carriers. These compensation arrangements are typically based on volume, renewal and/or profitability. While this form of compensation is very common among insurance brokers, we believe it is a serious conflict of interest because it incentivizes insurance brokers to buy your coverage from the carrier from which they will earn the most compensation instead of the carrier that is best for you. And, if the arrangement is based on profitability, it incentivizes insurance brokers to not act in your best interest.
3. We do not mark up the Annual Percentage Rate (APR) on premium finance agreements. While this form of compensation is very common among insurance brokers, we believe it is a serious conflict of interest because it incentivizes insurance brokers to arrange financing with the finance company from which they will earn the most compensation instead of the finance company that offers the best terms to you. Further, since insurance is expensive enough already, we believe that brokers should not exacerbate the situation by marking up the interest rate on premium financing deals.
4. Prior to an initial placement and each renewal, we voluntarily disclose all compensation we will earn from your account in our proposal. The fees or commissions we receive for managing your risk is an important part of your total cost of risk. While many brokers conceal or don’t fully disclose their compensation, we believe it should be on the table for discussion along with all other parts of the risk management and insurance procurement program.

We have built many other internal procedures and protocols into the CRIO service model to ensure that our recommendations put your interest before our own. Our philosophy is simple. If we always treat you right, you will stay with us long-term. By converting risk into opportunities that create enterprise value for your company, we will do the same for ourselves. We’re in it together, which is the concept of partnering in its purest form.

The current business environment is very challenging and you need a proactive partner that will help you convert risk management and insurance procurement from a necessary evil into a competitive advantage. CRIO is the right choice for you.