KMRD's 2010 Year in Review
Dear Valued Clients, Partners and Prospects,
We would like to take this opportunity to provide you an overview of 2010.
Clients are the focus of everything we do
The economy continues to be a challenge for our clients and KMRD. However, the impact of our unique model has enabled us to earn market share from our competitors. Our prospects seemed less focused on short-term survival strategies and more focused on analyzing the effectiveness of their existing risk management and insurance programs. This helped fuel our continued growth and success. Here are some examples:
- We had one of the best new business year's in KMRD history including a 90% hit ratio.
- 63% of our new clients assigned us as their sole representative in the insurance marketplace.
- The decision to choose KMRD as their sole representative achieved better results from a rate (13% vs. 11% rate reductions on average) perspective. When the marketplace was split among incumbent or additional brokers, the result was inferior to our experience. 2010 reinforced our message on the importance of choosing a trusted and qualified broker. Our process creates a better result than when shopping your broker and insurance companies at the same time.
- 100% of our new business involved a referral source in some way. THANK YOU and keep spreading the word!
- We grew by more than 10%. When many agencies are not growing or growing slowly, we have many to thank for helping us get there.
- We maintained 97% of our clients served by our Warrington Location. Limerick continues to retain over 99%. Who else can say that?
- Over 1,000 people listened to Kevin McPoyle's interview with Insurance Journal titled "Risk Management Linchpin". Check it out <click here>. Do not worry; it is only 12 minutes long.
- The pipeline of companies wanting to learn more about our approach grows on a daily basis. We continue to carefully select clients whom share our philosophies and values and where we can maximize the positive impact of the program for them.
We are continuously learning and improving
2010 was another eventful year from an infrastructure standpoint . It was necessitated by our growth. We:
- Hired 3 additional employees to assist in continuing to fuel our growth and serve our existing clients better. We will be formerly introducing them shortly.
- Launched another website to better educate our prospects and clients about the circumstances that can occur without sound insurance and risk management programs. It is called One Minute From Normal. Please visit the site and tell us what you think!
- Reserved our copyright to our unique approaches to analyzing, negotiating and communicating coverage and risk management concepts.
- Analyzed 963 policies bringing our database of coverage reviews to a total of 5,614. This equates to over 700,000 individual coverage points! We believe this database has the potential to be regarded as the most complete database of coverage offerings in this industry.
- Generated 51,485 documents saved to our document management system. We now have a total of 237,930. We are in the information business and our ability to accumulate and access intellectual capital in an organized fashion assists us in serving our clients better.
- Replaced our Servers, improved our Disaster Recovery Plan, and successfully fought off a troublesome Denial of Service Attack.
- Added 2 more videos and 2 more Success Stories to our website.
For more on KMRD News and Success Story, please visit the following areas of our website:
KMRD News Success Stories Hall of Fame
About KMRD Partners, Inc. – KMRD Partners, Inc. is a full service Property & Casualty broker serving the commercial property and casualty insurance market from offices in the Philadelphia, PA region. Their mission statement, “Making a difference by Managing the Cost of Risk”, is a unique approach that focuses not just on insurance placement, but coverage expertise, service accountability, client education and risk management. For more information please visit http://www.kmrdpartners.com/
2600 Kelly Road, Suite 300, PO Box 755
Warrington, PA 18976
1-866-957-KMRD (5673) Fax 267-482-8431
Reducing the Cost of Risk - One Client at a Time