Super Agent

Reshaping Workers’ Comp Relationships

Many insurance agencies with large books of workers’ compensation business can leverage these challenging times in the market to reshape their relationships and processes. Regardless of the premium rate or economic environment, employers still need help with their workers compensation programs.

We’ve already discussed the value of being a specialist and leading with workers’ comp when most employers are unaware of practical methods to reduce their workers’ compensation costs and address risks. It is important to recognize the vital role that agents can play in helping employers compete for business and manage threats. For example, reducing injury costs, increasing productivity and managing experience modification factors are essential for employers who want to remain competitive. According to Jon Coppelman of Lynch Ryan, “Employers who want to stay on top of their insurance costs need to ratchet up their loss control programs. The best injury is the one that never occurs. And for those moments when a safety program fails, employers need to enhance their post-injury management programs.” By working collaboratively with employers, addressing issues and providing valuable knowledge, agents can redefine and reshape their business relationships.

The agent must assume the role of leader and advisor and guide the employer to implement effective practices. After a complete workers’ compensation assessment is done, both parties can work together to develop a plan of action to reduce risks and improve outcomes.

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