$200 Million Paid to Members: Record Milestone for the Tribute Plan

The Doctors Company is committed to rewarding your clients and providing you with powerful retention tools. We have now reached an industry-leading milestone—the distribution of more than $200 million in Tribute® Plan awards to over 15,000 members. The Doctors Company is by far the only medical liability insurer that celebrates the careers of healthcare professionals with rewards of this magnitude.

The Tribute Plan has received continuous annual funding without interruption since its inception. Unlike many liability insurers that have paused or ended similar programs, The Doctors Company continues to fund Tribute from its own capital—not from premiums.

We’ve heard from agents and brokers about the importance of the Tribute Plan, and we’ve surveyed and spoken to your clients who are members of The Doctors Company.

Our research shows the Tribute Plan plays a key role in both your account retention and our member loyalty. In our 2024 Agent and Broker Experience Surveys, nearly 70 percent of responding agents/brokers agreed that Tribute tips the scale in their account retention efforts. We experienced similar positive results from our 2024 Member Experience Survey, with 83 percent of members who responded recognizing the importance of having the Tribute Plan as an unmatched industry benefit.

The 2024 Member Experience Survey also revealed that our Net Promoter Score (NPS) increases significantly when our members are aware of the Tribute Plan, and even more so when members are aware of their Tribute balance.

An NPS score measures customer loyalty by looking at their likelihood of recommending a given business. It is gauged by taking the percentage of survey respondents who would actively recommend the business to their peers (promoters) and subtracting the percentage of those who would definitely not (detractors). For example, if 84 percent of respondents are promoters, 6 percent are passives, and 10 percent are detractors, the NPS score would be 74. This is significant because a higher score provides agents/brokers with greater opportunities for business retention.

Source: 2024 Member Experience Survey

To reinforce the value of the Tribute Plan and support your retention efforts, we have a new Tribute Plan Overview Handout to keep Tribute front and center with your clients.

And for your clients who are currently with another carrier, there’s no good reason not to move them over to The Doctors Company. With our Tribute Plan Matching Program, we’ll match the funding of your eligible clients’ loyalty rewards balances when they switch to The Doctors Company.

For more information about Tribute Plan eligibility and the terms and conditions, contact your Underwriter or Business Development representative.