INSURED – A large multi-state owner/developer of residential and commercial property.
SITUATION – The company was using a large insurance agency/broker who was having difficulty managing the company’s claims in a multi-state environment. This complexity requires expertise as well as the time and resources to provide an adequate service level. Unable to get a handle on the Mod credits, the Experience Mod was beginning to climb.
ASSESSMENT – CWCAs conducted an analysis and discovered numerous errors in the reporting of the data to the various state rating boards that were not being closely monitored. The company signed a BOR agreement and the CWCAs went to work.
SOLUTION – The CWCAs immediately set up a program to favorably adjust the Mod by regularly checking and coordinating the loss-run ratios. They also put in place a monthly telephone review of all claims and open cases, set up a quarterly meeting and action plan aimed at minimizing the reserve, instituted early involvement with a nurse-care manager, and launched an aggressive Recovery-at-Work campaign, all working towards the goal of lowering the mod and reducing premiums.
RESULT – Because of the work by the CWCAs, the client’s Experience Mod came down and the client received a total return of $100,000 in premiums.