Company Overview
CBIZ Insurance Services Inc. is a leading provider of insurance brokerage and consulting services to businesses and individuals across the United States. Founded in 1998, the company has grown to become one of the largest insurance brokers in the country, with over 1,200 employees and offices in more than 100 locations.
CBIZ Insurance Services Inc.’s mission is to provide clients with the highest quality insurance products and services at the most competitive prices. The company’s vision is to be the leading provider of insurance brokerage and consulting services in the United States. CBIZ Insurance Services Inc.’s values are integrity, professionalism, and customer service.
The company is organized into three divisions: Commercial Insurance, Personal Insurance, and Employee Benefits. Each division is led by a senior executive who reports to the company’s CEO.
Key Leadership
* CEO: Steven Morelli
* President: Michael P. Bourque
* Executive Vice President and Chief Financial Officer: Patrick J. Ward
* Executive Vice President and Chief Operating Officer: Christopher C. Gray
Services Offered
CBIZ Insurance Services Inc. offers a comprehensive range of insurance services tailored to meet the diverse needs of businesses and individuals.
Our services encompass a wide spectrum of insurance solutions, including:
Property and Casualty Insurance
| Service Name | Description | Target Audience | Key Benefits |
|---|---|---|---|
| Commercial Property Insurance | Protects businesses against financial losses due to damage or destruction of physical assets | Businesses of all sizes | Coverage for buildings, inventory, equipment, and other property |
| General Liability Insurance | Provides protection against claims for bodily injury or property damage caused by the business’s operations | Businesses of all sizes | Coverage for legal defense costs, settlements, and judgments |
| Business Interruption Insurance | Compensates businesses for lost income and expenses incurred during a covered interruption of operations | Businesses of all sizes | Coverage for loss of revenue, extra expenses, and ongoing operating costs |
| Workers’ Compensation Insurance | Provides medical and income benefits to employees who suffer work-related injuries or illnesses | Businesses with employees | Coverage for medical expenses, lost wages, and disability payments |
Employee Benefits Insurance
| Service Name | Description | Target Audience | Key Benefits |
|---|---|---|---|
| Group Health Insurance | Provides medical, dental, vision, and prescription drug coverage for employees | Businesses with employees | Coverage for health care expenses, preventive care, and wellness programs |
| Group Life Insurance | Provides financial protection for employees and their families in the event of death | Businesses with employees | Coverage for death benefits, accidental death benefits, and dismemberment benefits |
| Group Disability Insurance | Provides income protection for employees who are unable to work due to disability | Businesses with employees | Coverage for short-term and long-term disability benefits, including lost wages and rehabilitation expenses |
| Retirement Plans | Helps businesses and employees save for retirement | Businesses with employees | Coverage for defined benefit plans, defined contribution plans, and IRAs |
Specialty Insurance
| Service Name | Description | Target Audience | Key Benefits |
|---|---|---|---|
| Cyber Liability Insurance | Protects businesses against financial losses resulting from data breaches, cyber attacks, and other cyber threats | Businesses of all sizes | Coverage for legal defense costs, settlements, and judgments |
| Professional Liability Insurance | Protects professionals against claims for negligence or errors and omissions | Professionals in various fields, such as accountants, lawyers, and doctors | Coverage for legal defense costs, settlements, and judgments |
| Directors and Officers Insurance | Protects directors and officers of companies against claims for breach of fiduciary duty, negligence, or mismanagement | Publicly traded companies and privately held companies | Coverage for legal defense costs, settlements, and judgments |
| Surety Bonds | Guarantees the performance of a contract or obligation | Contractors, suppliers, and other businesses | Coverage for financial losses incurred if the principal fails to fulfill the contract or obligation |
Industry Expertise
CBIZ Insurance Services Inc. excels in providing tailored insurance solutions for a diverse range of industries. Our deep understanding of industry-specific risks and regulatory landscapes enables us to develop comprehensive insurance programs that effectively mitigate exposure and optimize coverage.
Healthcare
We have a proven track record of providing innovative insurance solutions for healthcare providers, including hospitals, clinics, and medical practices. Our expertise in medical malpractice, cyber liability, and employee benefits ensures that our clients have the necessary protection against the unique risks they face. For instance, we helped a major hospital network implement a comprehensive cyber insurance program that effectively safeguarded their sensitive patient data and minimized the impact of a potential data breach.
Construction
CBIZ Insurance Services Inc. has extensive experience in providing insurance coverage for contractors, subcontractors, and developers. We understand the complex risks associated with construction projects and offer tailored insurance solutions that protect against property damage, liability, and workers’ compensation. For example, we assisted a construction company in securing a project-specific insurance program that provided comprehensive coverage for their multi-million dollar construction project, ensuring financial stability in the event of unforeseen events.
Manufacturing
Our team of experts provides specialized insurance solutions for manufacturers, addressing the unique risks associated with their operations. We offer coverage for property, business interruption, product liability, and employee benefits. For instance, we worked with a leading manufacturing company to implement a comprehensive insurance program that minimized downtime and financial losses resulting from a major equipment failure.
Technology
CBIZ Insurance Services Inc. recognizes the rapidly evolving risks faced by technology companies. We provide tailored insurance solutions that protect against cyber attacks, data breaches, intellectual property infringement, and business interruption. For example, we assisted a technology start-up in securing a cyber insurance policy that provided coverage for potential data breaches and reputational damage, ensuring their continued growth and success.
Customer Testimonials
CBIZ Insurance Services Inc. is committed to providing exceptional service to its clients. Here are some positive customer testimonials that highlight the quality of service the company provides:
These testimonials demonstrate the company’s dedication to customer satisfaction and its ability to meet the unique needs of its clients.
Exceptional Service
- “CBIZ Insurance Services Inc. went above and beyond to help me find the right insurance coverage for my business. They were knowledgeable, professional, and always available to answer my questions.”
- “I have been a client of CBIZ Insurance Services Inc. for over 10 years, and I have always been impressed with their level of service. They are responsive, efficient, and always willing to go the extra mile.”
Tailored Solutions
- “CBIZ Insurance Services Inc. took the time to understand my specific insurance needs and tailored a solution that was perfect for me. I am confident that I am well-protected thanks to their expertise.”
- “I was facing a complex insurance issue, and CBIZ Insurance Services Inc. provided me with clear and concise advice. They helped me navigate the process smoothly and efficiently.”
Trustworthy and Reliable
- “CBIZ Insurance Services Inc. is a trustworthy and reliable partner. I know that I can count on them to provide me with the best possible insurance coverage and service.”
- “I have recommended CBIZ Insurance Services Inc. to several of my friends and colleagues, and they have all been equally satisfied with their experience.”
Competitive Advantages
CBIZ Insurance Services Inc. stands out in the insurance industry through its unwavering commitment to delivering exceptional client experiences and innovative solutions.
The company’s comprehensive suite of insurance offerings, tailored to meet the unique needs of businesses and individuals, sets it apart from competitors. CBIZ’s deep understanding of industry trends and regulatory landscapes enables it to provide customized risk management strategies that effectively mitigate potential liabilities.
Unparalleled Client Focus
- Dedicated account managers provide personalized attention, ensuring clients receive tailored solutions that align with their specific goals.
- Proactive risk assessment and mitigation strategies minimize potential liabilities and protect clients’ interests.
Comprehensive Insurance Offerings
- Commercial insurance: Comprehensive coverage for businesses of all sizes, including property, liability, and workers’ compensation.
- Employee benefits: Tailored solutions for employee health, retirement, and other benefits, enhancing employee satisfaction and retention.
- Personal insurance: Customizable plans for individuals and families, covering homeowners, auto, and other personal assets.
Industry Expertise
- Specialized knowledge in various industries, including healthcare, manufacturing, and non-profit organizations.
- Deep understanding of industry-specific risks and regulatory requirements, ensuring tailored solutions that meet specific needs.
Value Proposition
CBIZ Insurance Services Inc. offers a unique value proposition that combines comprehensive insurance solutions, industry expertise, and unwavering client focus. This comprehensive approach ensures clients receive customized, proactive risk management strategies that protect their assets, enhance their operations, and provide peace of mind.
Growth Strategy
CBIZ Insurance Services Inc. has a well-defined growth strategy that aims to expand its market reach, enhance its product offerings, and drive revenue growth.
The company’s growth plans include:
Expansion into New Markets
CBIZ plans to expand its geographic footprint by entering new markets and regions. This includes acquiring local insurance agencies and establishing new offices in strategic locations. By expanding its presence, the company aims to increase its market share and tap into new customer segments.
New Product Development
CBIZ is committed to developing new and innovative insurance products that meet the evolving needs of its clients. The company invests heavily in research and development to create customized insurance solutions tailored to specific industries and risk profiles. By offering a comprehensive range of products, CBIZ aims to differentiate itself from competitors and cater to the diverse insurance needs of its clients.
Market Penetration
CBIZ focuses on increasing its market penetration within its existing markets. The company leverages its strong brand recognition, established relationships with clients, and personalized service to attract new customers and retain existing ones. By enhancing its customer service and outreach efforts, CBIZ aims to drive organic growth and increase its market share.
Financial Performance and Future Prospects
CBIZ Insurance Services Inc. has consistently delivered strong financial performance, driven by its successful growth strategy. The company’s revenue has grown steadily over the years, and its profit margins have remained healthy. With its strong financial foundation and commitment to innovation, CBIZ is well-positioned for continued growth and success in the future.
