Client Reduces Claims and Lowers Reserves by $74,033
Our client is a specialty cheese manufacturer that primarily serves institutions, restaurants, distributors, and other manufacturers. The company originally began as a cooperative and evolved to a private corporation.
The company was insured with a local agent who did not specialize in workers’ compensation or injury management. The company’s CFO and HR personnel performed multiple jobs and were responsible for many different functions within the organization. As a result, work comp injuries went unmanaged, resulting in an experience mod that reached a high of 1.18.
WA Insurance Group conducted a Profit Shield™ workshop that identified risk areas that were being overlooked causing money to drain from the bottom line. As the areas were uncovered, they were also prioritized by the insured, and WA Insurance Group put a plan in place to address the risk issues.
WA Insurance Group has worked with this account for three and a half years. As a result, the experience mod number for workers’ compensation has gone from 1.18 to 0.90. and claims have been reduced by a total of 700%.
Through our injury management process, we have reduced reserves on existing claims over the last three years by $74,033. This organization has seen its premium reduced by $24,785.