I met with a CFO several years ago who was quick to say he thought business insurance was “a pain in my butt.” But what I came to learn was that it wasn’t insurance that made him miserable; it was a whopping 1.37 experience mod driving up his Workers’ Comp premiums that was threatening to put him out of business. It was obvious that just saving money wasn’t going to help him stay in business. He desperately needed to get his house in order.
Workplace safety was a major issue at his business, a virtual minefield of accidents waiting to happen, with no hope of safely navigating them unless some changes were made quickly. We implemented an onsite triage service to handle injuries that didn’t need to be ambulatory, which eliminated more than half of all his claims. We implemented supervisor training, assisted in establishing a strong return-to-work program and made it a point to get feedback from his employees for improving safety and productivity. His experience mod went from 1.37 to .89. And now he looks like a hero.