We understand the unique and complex exposures of PE firms and portfolio companies. Our clients appreciate a proactive partner that takes a uniquely consultative approach.
Bryson Financial specializes in employee benefits and insurance for private equity firms with a focus on reducing costs.
Why We Are Different
We want to talk about cost reduction. The fact is most insurance firms shy away from discussions about reducing costs because lowering benefits and insurance costs is difficult and counter-intuitive for many brokers, especially the big guys, so any discussions about costs inevitably turn to a discussion about their ability to “add value” and provide exceptional service.
We Know Cash Flow and Profitability are Key
In our work, we know private equity firms and portfolio company management teams maintain a strong focus on cash flow, profitability and increasing enterprise value. So any discussion about changes in employee benefits and insurance has to be driven by cost effectiveness.
We Know Private Equity – We Talk Your Language
Our private equity clients appreciate our knowledge of the industry, our creativity, and our understanding of the nuances of serving portfolio companies and management teams.
We provide a strategic, consultative approach to benefits and insurance solutions and offer a comprehensive due diligence process that looks at risk strategy, both short and long term, to save money and avoid unnecessary surprises.
We make sure that you and your portfolio companies have a strategic foundation to achieve managed insurance costs as you build to a liquidity event. Our private equity clients view us a trusted partner – and partners don’t let partners pay too much for employee benefits and insurance coverage.
How We Reduce Costs
An insurance industry fact: when premiums go up, so does the compensation to the insurance broker. At Bryson, we have adopted a more client-centric approach. Instead of compensation that is only based on a percentage of the premium, we have designed a compensation model directly tied to our ability to lower insurance spend. We call it Performance Edge and our clients love it because they know “what gets measured gets done.”
Lifecycle Cost Design
Insurance is far more strategic than business leaders and average insurance professionals allow it to be. Too often, management waits until the last minute on insurance renewals and has few options to make substantive changes. At Bryson, we take a lifecycle approach that ultimately builds to a liquidity event. We work with the management teams at portfolio companies to introduce and help them adopt best-in-class strategies that contribute to lower insurance premiums over time. With the right planning, costs can be managed and even reduced.
For some portfolios, aggregate pricing provides a great opportunity to improve coverages and lower costs. Some insurance brokers will hype this approach, others will dismiss it. At Bryson, we look at aggregate pricing as powerful strategic tool that when used appropriately can dramatically lower insurance costs.
We encourage it. Too many private equity firms have a locked-in, long-term relationship with a broker and they “set it and forget it.” Or, they leave it to management teams who, frankly, are more apt to mismanage benefits and insurance. Both approaches are a prescription for higher costs and a lower level of coverage. We invite competition. Competition is at the heart of our cost reduction strategies. We think competition serves our partners well.