Despite being compulsory for most businesses, workers compensation insurance remains both a complex and difficult business cost to manage.
Compounding this, each state and territory has its own legislation, guidelines, gazetted premium rates and a different mechanism for determining how claims will impact premium calculation. This fragmented arrangement can make workers compensation challenging to navigate.
The multiple key drivers of your workers compensation premium that all require expert consideration are:
Workers Compensation Health Check is an independent analysis and report on your entire workers compensation management arrangements.
This report will benefit businesses who are bearing the typical burdens of poor workers compensation performance, including rising premiums, high claim volumes, poor agent relationship, or a ‘workers’ compensation culture’. With our help, your business can turn the situation around. Our consultants can identify where your gaps are and make tangible improvements that can result in substantial cost savings as well as a safe and productive workplace.
We conduct a desktop review of high cost, difficult to manage claims, including any current potential for cost reduction. Additionally, we analyse common themes in critical claim events, including primary and secondary causation, return to work attempts and liability determination.
Policies and procedures
We provide a gap analysis of your policy and procedure suite, with a key focus on early intervention, return to work and prevention.
We investigate your premium trajectory, how premium payment is structured across your business, as well as levels of workers compensation literacy across management levels. Do managers understand how return to work decisions affect premium costs? Are there structural incentives in place to ensure managers are prioritising prevention and early intervention?
We analyse the resources available (internal and external) to effectively manage existing injuries and prevent new ones, with a focus on the attitudes and confidence of front line managers in managing return to work.
Please CONTACT our team for more information and a free quotation.