Big I Maryland staff has compiled this list of leading agency consultants across the nation. Web sites are linked from firm names where available. You can also find consultants through the American Association of Insurance Management Consultants at www.aaimco.com, This list is not all inclusive and is not an endorsement from Big I MD.
Suggestions for making the most out of working with consultants:
- Understand your need as much as possible and what you hope to accomplish from outside expertise.
Screen the consultant to validate expertise:
- Ask for written summaries of relevant client assignments completed.
- Ask for multiple references who can confirm the consultant met objectives.
- If you are going to get bids, start with a Request for Qualifications (RFQ).
- Be prepared to help the consultant get to know your organization.
- Get a written proposal. If you’re taking bids, prepare a Request for Proposal (RFP).
- Understand the fee structure including expense reimbursement and payment schedule. Have payment schedule tied to interim benchmarks so you can evaluate the program. Ask for a satisfaction guarantee.
- Get a written contract or letter of agreement that identifies consultant’s deliverables, role in implementation; if any, and criteria for interim benchmarks. Include non-disclosure and non-compete language. Make sure you understand your obligations for successful implementation.