Willis Towers Watson designs workers compensation strategies that help you achieve your financial and operational objectives. Whether your focus is accelerated growth or preparing for economic challenges, we will provide you with solutions to meet your short and longer-term goals. Our capabilities help you:
- Optimize your workers compensation spend
- Compare your insurance costs with your peers
- Evaluate your loss experience relative to your specific industry or geography
- Examine the probable impact on EBITDA of alternative deductible strategies
- Mitigate frictional costs or building equity via self-insurance, captives or other alternative risk transfer solutions
- Reduce collateral obligations and provide alternatives to letter of credit
- Design an insurance marketing strategy that promotes market competition
- Enhance operational efficiencies
- Create metrics and develop underlying data solutions to support your objectives
- Identify loss drivers and rectify process gaps
- Provide custom cost containment solutions based on your loss experience and risk profile
- Assist in analyzing claims and safety practices and identify areas for improvements to minimize future losses
- Evaluate specific prospective pre- and post- loss claims management solutions
- Assist in claims reporting procedures
- Evaluate claims administrator effectiveness
- Examine integrated medical, employee benefit and workers compensation data aggregation and reporting solutions
- Design a multi-year strategy to meet your financial and operational plan
- Risk analysis, identification and optimization
- Match coverage with your operating plan
- Provide due diligence for acquisitions and divestitures
- Develop metrics and scorecards to monitor progress
- Project workers compensation experience modification changes using target claim scenarios
- Implement multi-year insurance market strategies to meet risk transfer and program design objectives
- Design allocation systems to serve all stakeholders
- Provide actuarial studies that meet financial and regulatory requirements
- Budget for single and multi-year financial projections
With our suite of analytic tools and broking services, Willis Towers Watson can help you realize significant savings and improve morale and productivity. It’s a great step toward becoming an employer of choice.
