Our workers’ comp underwriting and risk analysis process begins with the loss prevention walk-through and past-years’ claims examination. This initial step is completed before a quote is completed or a proposal prepared. This initial walk-through forms the starting point of our client relationship, and as such it is a critical, ongoing facet of the long-term relationships we establish with the companies we insure.
Throughout each year, Synergy Comp’s loss prevention consultants constantly monitor and assess our clients’ business practices and processes, study industry trends, and review scientific research. Each client receives a monthly visit from the assigned loss prevention consultant. This monthly visit results in a report card which is then sent to appropriate company management so that you will have a consistent view of safety across your departments and functional areas.
We identify existing and evolving risk factors, then work with management to implement changes that will reduce injuries, improve employee morale, increase productivity, and boost profitability in the long term, quarter after quarter, year after year. It’s one important way in which we help your organization generate ROI on your workers’ compensation dollars. This is a key prong in our three-pronged approach to creating a culture of safety and accountability.
The frequency of injuries among repeaters typically falls to 47.6%.
We then turn our attention to the human factors that drive up costs: employees who are “accident repeaters.” An accident repeater is defined as a worker who has had more than one workplace injury in the past five years. Analysis shows that “repeaters” often account for more than two-thirds of a company’s claims and a similar percentage of overall claim costs.
Because repeaters represent a predictable risk factor, our loss prevention consultants devote extra time and attention to them. In order to determine why they’ve been hurt so often, we interview repeaters when we first partner with a client. Then we speak with repeaters again during each of our monthly site visits and diligently track their performance throughout the year. As a result, the frequency of injuries among repeaters typically falls to 47.6%, an impressive reduction that generates considerable savings for our clients.