As specialists in rate integrity, we offer an experience no other company can match. Since 1977, we’ve helped the biggest names in the insurance industry develop cost-effective rate integrity programs that ensure accurate policy level information, manage premiums, and retain loyal customers.
PSI Employees are Highly Trained & Professional
Our mission is to partner with carriers to create an ideal program that acquires accurate information from current policyholders and securely transfers the data back in a compatible format to improve rating integrity. We are completely focused on maximizing every carrier’s risk management efforts while creating a win-win scenario for their customers. Our time-tested skill, consistency, and professionalism are ultimately what deliver a better value.
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PSI’s proven methods
Our proprietary methodology relies upon proven techniques, each of which helps to continue to improve each client’s customized rate integrity program.
Identifying Policy Uprate Potential- Throughout each program, PSI can conduct “scrubs” of the carrier’s book of business. We use a combination of time-tested underwriting logic and sophisticated data sources to identify policies with the highest likelihood of rating error. This logic screens policy data for telltale signs of incorrect rating.
Superior Caller Training- Our caller training is critical to the success of every program. For that reason, we’ve developed and continue to refine one of the most thorough and involving Caller Training Programs in the industry. The result for our clients is a professional, relaxed, friendly representative fully trained in rate pursuit.
Predictive Dialers? Not Here- We don’t use predictive dialers for two reasons. They lead calls with “dead” airtime while the connection is made, so policyholders often hang up on them. Predictive dialers also indicate to policyholders that the call is from an unsolicited “telemarketer,” which we are not. The only customer-focused way to get through to a policyholder’s home is by having representatives dial each call by hand, which still provides all the detailed tracking, history, and information of the phone call. It’s just one of the ways we deliver high contact rates, low refusal rates, and higher premium yields for our clients.
Our Postcard Component- This non-intrusive follow-up procedure is another way we raise contact rates even higher for our clients. When the policyholder is unreachable by telephone, PSI offers its clients the option of sending a pre-approved postcard requesting that the policyholder contact PSI at his or her convenience through a dedicated toll-free number.
Rate Integrity Questionnaires- PSI also offers clients the option of mailing questionnaires to policyholders who are unreachable by phone. These questionnaires gather the same information vital to the success of each rate integrity program.
Active Monitoring- To review call quality and give feedback, we encourage our clients to monitor live conversations between PSI representatives and their policyholders. Clients can do this remotely from any phone they choose at any location.
Ongoing Client Dialogue- PSI Account Managers hold weekly teleconferences with their client to discuss program effectiveness. It’s an opportunity for the Account Manager to communicate results and listen to the client’s needs, so together they can fine-tune procedures that will improve overall program performance.
Industry Leadership- We’re constantly looking for new ways to improve our gathering of policyholder information, from new database intelligence and Internet-based solutions to the creation of specialized service levels within each carrier’s policy base. It is an ongoing effort to develop the highest quality methods for ensuring each client’s rate integrity program can reach its maximum potential.
Independent & Proprietary Retail Agents- We provide weekly reports to Independent Retail Agents. By keeping them in the loop and working with their needs, we have historically created a cooperative spirit between Independent Retail Agents and PSI.
Cross Marketing- We have helped carriers, retail agents, and policyholders by cross-marketing other products appropriate for the policyholder’s situation. Your policyholders gain access to other lines of insurance they may need. Retail agents deepen their relationship with their clients. And the carrier gains additional premium.
Good Data. Right Format- PSI is not limited by software constraints. We transfer completed data files in formats compatible with the client’s IT requirements and systems. Client-specific parameters are identified, incorporated into the program, then delivered. We can make changes to scripts that affect results within just a few days. And clients have access to their data for two full years following policy updates.