Reverse Flow
The USA: Revenue Opportunities
The USA is still the largest market in the world, and the largest recipient of Foreign Direct Investment of any country. Foreign companies invested over $325.3 Billion in the USA in 2008, and employed 5.3 million Americans. The US market offers tremendous revenue opportunity to add to your home country account. The typical mid sized American firm with 55 employees spends $501,000 on Health insurance and $84,000 on Workers Compensation insurance. These premiums typically generate over $46,000 in fees and commissions. Because of the high cost of US Benefits, targeting them as part of your overall account strategy is extremely rewarding financially.
Globex International Reverse Flow Services
Globex understands the complex risks faced by today’s multinational companies, particularly those of foreign companies doing business in the USA. Our International Reverse Flow Services division provides brokers and insurers with the ability to provide superior risk management services in the USA for the subsidiaries of foreign owned companies.
Who
Globex International is YOUR global business unit. We offer a team of international insurance professionals with over 200 years of experience. We offer a national network of 50 leading partner brokers in the USA.
What
We understand differences, both in coverage, and in cultures. Globex has the expertise to properly address the insurance needs of US subsidiaries of foreign parents, from a truly global perspective. Our core services include prospect identification, local assessment of exposures and needs, prospect sales calls, program design, program marketing, program implementation. We also provide Partner brokers with education and training on how to handle this business on your own, and share in the substantial revenues from US placed covers.
Why
Placing coverage for US subsidiaries can be both confusing, and costly. Globex is a dedicated team working as your international Account Executive in the USA. We have carefully selected our US partner brokers and insurance companies, in order to provide tailored risk management solutions in a cost effective manner. We have the flexibility to handle the insurance needs of a start-up sales office in Chicago, to a major US subsidiary with manufacturing operations across the country. Globex also understands the importance of educating the customer about the risks inherent to the USA and how to address them, be it with local management in the USA, and/or with senior management of the foreign parent. Knowing what is the true cost of risk for companies operating in the USA is critical to the profitable long-term growth of these entities.
When
Contact Globex International Reverse Flow Services division as early as possible when dealing with any U.S. situation or exposure. Better than 50% of what we do is to educate and guide you in order for you to put your most competitive foot forward and enhance the opportunity to provide the best solution for your client or prospect. Our degree of involvement depends on our ability to add value.
How
- Call Globex regardless of the size or situation
- Utilize Globex as an extension of your account team
- Discuss the opportunity/situation/need
- Jointly develop a game plan for execution – who will do what and when
- Discuss potential revenue and revenue sharing if applicable
- Jointly implement the solution/program
- Ensure the program solution is put to bed
- Transition services (and income) from Globex to Partner broker over a three year period
Where
We have offices in New Jersey, Connecticut, Germany and China. In addition to these offices Globex offers a “network” of 300 overseas brokers located in 130 countries, including 50 leading partner brokers in the USA.