Last updated on May 13th, 2019 at 02:36 pm
Integrated Risk Solutions Inc., a Delafield-based business insurance and risk management services firm, plans to move its headquarters to a larger office location in Pewaukee.
The company currently occupies about 4,000 square feet of space at 524 W. Milwaukee St. in downtown Delafield.
"We’ve outgrown this space," said president and chief executive officer Thomas Precia. "Business is booming."
In August, the company will move to 11,000 square feet of office space at W237 N2920 Woodgate Road, Suite 300, in Pewaukee.
The company could not find 11,000 square feet of class A office space in western Waukesha County, Precia said.
"We just could not find enough space at the level we wanted in this area," Precia said.
In addition, the company wanted a location closer to Milwaukee to provide better access for clients and employees, he said.
However, the company has customers all over the state, so a Waukesha County location makes it easier to visit those customers than a downtown Milwaukee location would, especially during the Marquette Interchange reconstruction, Precia said.
"We prefer Waukesha County, because we think it’s a good area for growth," he said.
Founded in 2001, Integrated Risk Solutions has about 20 employees and plans to add another 10 to 12 employees in the next 18 months, Precia said. Those employees will provide account executive support, client service support and risk services personnel. The company has added about five to seven employees in each of the last two years.
The company has more than $50 million in total premiums and has grown its revenues by more than 15 percent a year, Precia said.
Critical to the company’s success is its focus on helping clients find ways to improve operations and reduce risk costs, Precia said. The company hosts workshops for its customers to help them reduce risk costs. The need for space for those workshops is another reason the firm needs to move to a larger location, Precia said.
Many of Integrated Risk Solutions’ competitors focus on ways to lower the insurance premiums paid by clients, but that is only one way to reduce risk costs, he said.
Integrated Risk Solutions sells itself as an extension of its client’s risk management team. The company created what it calls the Integrated Risk Model, a process of assessing risk, identifying opportunity, developing service initiatives and implementing action plans for reducing risk costs. The model creates a "relationship triangle" between Integrated Risk Solutions, the carrier and the client, Precia said.
"We’ve got a process that really has offered a true risk management partnership with our clients," Precia said. "We focus on our clients to drive down their cost of risk. Premiums are just a part of it. A lot of different variables come into play."
Robert Conklin, principal of Robert Conklin Real Estate Services LLC, Milwaukee, represented Integrated Risk Solutions in finding the new space, and James Young of Colliers Barry represented the landlord