Service to be provided:

Pinnacle has provided risk management benchmarking services to clients who desire a comparison of their cost of risk, policy limits, retentions, risk management policies and procedures, broker compensation, etc. In offering such a service, a Pinnacle consultant will first determine what it is that you, the client, would like a comparison of. Pinnacle will develop the requisite survey questions and format to be followed. Pinnacle will then ask that you advise us as to what organizations you desire be included within the survey. (Pinnacle asks that you, the client, advise as to who is to be surveyed, for we have found that by having the clients determine the control group, the results of the survey are given credibility within your organization, particularly, if you chose the same group that your organization uses for other types of benchmarking surveys.)

Pinnacle often performs these surveys keeping the name of the client anonymous. Further, the respondents often want their identity kept unknown. Pinnacle, in order to satisfy your needs and the wishes of the participants, will advise you from whom we have received responses, but keep the name and responses from each company anonymous. Each respondent is simply referred to as Respondent A, or Respondent B. Lastly, in order to garner the cooperation of the desired control group, Pinnacle will suggest that the results of the survey be shared with the participants. This frequently assures not only greater cooperation, but also more exact and meaningful responses. In the event you are interested in benchmarking your organization in areas other then COR, for example limits of liability; deductible amounts; etc., Pinnacle will develop the appropriate questionnaire and survey other organizations that you want to be benchmarked against. Pinnacle can also benchmark you against our own client base*.

* Due to the confidentiality that exists with regard to Client Information, any comparison made to Pinnacle's clients will once again be made in an anonymous manner.

Why should such a service be considered?

One of the most common practices within an organization today is benchmarking. Most organizations routinely compare themselves in a number of ways, financial, operational, etc., to a select group of organizations which are either considered a peer group within your industry, or are considered "best in class", either within the same industry or in the business community at-large. In tracking the costs and attributes of your risk management program relative to other organizations, you can judge the comparative appropriateness and effectiveness of your program to others. You can use the information collected in this benchmarking process to make any adjustments to your program that may seem obvious once the results of such a comparison is made.