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DESKTOP REVIEW
The Workers Compensation premium for a sizeable workforce is a
major insurance expense, and can be a substantial business cost.
As your Insurance Broker is generally excluded from the process,
employers generally deal directly with insurers. In calculating
your premium, the insurer can often be very subjective as they
have limited knowledge of your business, and often industry in
general.
The simple solution is to have McGrath Consulting conduct a Desktop
Review.
Our Desktop review is conducted WITHOUT COST and we will:
• Review
the insurer's calculations and underlying assumptions
•Can give
you quick financial results in terms of reduced premiums.
The benefits of this review are obviously:
•A substantially
lower estimate of claims costs
•The potential
to save 10- 30% on/your premium
Many larger claims take years to finalise and in some states the
insurer may take this into account when assigning a value to your
claims cost. Ultimately, the insurer's estimate has a substantial
impact on the premium you pay.
The vast majority of employers accept an insurer's premium calculation
without question, assuming that there is nothing they can do. When
they do try, they often direct their energies in the wrong area,
because they have a limited understanding of the process.
Print out this “Letter
of Authority” on your letterhead. Complete the form and
return it. Your letter will authorise us to access information
held by your insurer.
Our preliminary assessment will identify whether you are likely
to benefit from a full review.
The assessment report will:
• Give you
valuable feedback on your workers' compensation cost.
• Benchmark
you against an industry standard
• Identify
the inflationary impact of any claims costs
• Recommend
possible cost reduction measures.
We will ask your insurer for the information we need to start the
assessment process. After reading our assessment report, you can
decide if you want to proceed with a claims review.
If you would like more information on this FREE service, call our
office on 039750 0220, or email on help@mcgrathco.com.au
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