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HOW IT WORKS ● WHAT YOU'LL GET ● WHY CHOOSE WORKERS' COMP KIT®
Help Your Corporate Clients
For Insurance Companies, State Funds Captives, and Reinsurers:
The Workers Comp Kit® is designed to help you rate your clients' risk profiles.
Our National Worker's Compensation Score™ is a proven predictor of success.
Our predictive analysis enables an insurance company to fine-tune the risk selection process and increase competitiveness by establishing a threshold risk profile. The higher the score, the better the risk.
Fine-Tune the Risk Selection Process
In less than 45 minutes, each prospective client provides the information necessary to know the likely level of workers comp costs. They also receive Recommendations for Improvement detailing what steps they must take to improve their risk profile.
Companies with National WC Scores™ of more than 80 are more likely to have low workers' compensation costs.
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- This means that they have many best practices in place at their facility.
- Each business unit receives a score.
Companies with a Return to Work Ratio of more than 90% will have lower than average workers' compensation costs.
This means that more than 90% of injured employees have returned to work (full duty or transitional duty) in 1-4 days.
Eliminate Unprofitable Accounts
Workers Comp Kit® helps insurance companies, captives, state funds and reinsurers weed out accounts that are costing them the most.
For new business, select clients with lowest risk profiles. By selecting only those clients with a National Workers' Compensation Score™ over a threshold, you can select risks to fit your book of business and price more accurately and competitively.
You can provide your existing accounts with the diagnostics and the solutions to reduce their workers' comp costs.
- Certain mandatory "best practices" will need to be implemented prior to renewing the policy.
- Benchmark all members by industry, by state, by your producers (which producer helps their clients the most?) or by type of risk.
Insurance carriers have said ... "Workers' compensation is the line of coverage that causes them the most concern in the next three years."
Insurance companies are concerned due to:
- Double-digit medical inflation,
- The unlimited nature of workers comp claim costs, and
- Potential for another catastrophic loss in a large venue or "trophy location" such as the World Trade Center.
Now, insurance companies, captives, state funds and reinsurers can predict success in reducing workers' comp costs.
"Workers Compensation Management Program: Reduce Costs 20% to 50%"
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To learn more about how to lower your workers compensation expense, read the guidebook from Advisen and the Workers Comp Resource Center, Workers Compensation Management Program: Reduce Costs 20% to 50%, which covers the following:
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