Think Like An Underwriter, Act Like An Innovator

How Aclaimant Wins the War on Staffing Insurance Rates

“You never get a second chance at a first impression.” A lively debate centers on the quote's originator, but not its content. It took me a while to figure this out but in the art of the selling, I’ve found that my ability to convert my first impression into a second meeting would dramatically improve the chances to develop a relationship and earn the opportunity to compete for their business. My first impression is specifically designed to audition my talent for “WHY” the prospect wants to see me again instead of deciding if they need to see me again.  

So what does the difference between wants and needs, first impressions and second chances, have to do with winning the war on insurance rates? Why should a staffing firm owner think like an underwriter but act like an innovator?  How does your understanding of the economic impact of what to do ‘before, during and after” a work related incident is reported reduce the ultimate cost of risk?

My experience to date in the staffing industry revolves around investing in a Staffing Captive and becoming actively involved in the claims adjudication process specific to workers compensation.

I have the unique perspective of analyzing over 1,000 medical only, indemnity and litigated claims over the last 5 years.

There is no greater education than the one that occurs when your own money at risk. Conventional wisdom is that insurance is designed to transfer the risk from the policyholder to the insurance carrier. In reality an underwriter is analyzing how much your money is at risk because your performance determines how much more or less you will pay for the next policy.   

I have also been fortunate to be mentored by industry thought leaders like Gary Pearce at Kelly Services.  Gary is the Chief Risk, Compliance and Privacy Officer for Kelly Services, Inc.  Reporting to the General Counsel, he leads the Risk Management Group which consists of the following departments: Global Safety, Health and Environmental; Global Security Programs; Risk Intelligence; Risk Management; Unemployment Compensation; and Workers Compensation.  Mr. Pearce also serves as leader of Kelly’s Enterprise Risk Management program. It is Gary’s philosophy that what is good for the staffing industry is good for Kelly but don’t confuse his altruism with his command of capitalism. He knows and respects the fact that nothing happens until a sale is made and the sale never ends regardless of your title or position in the company. 

Gary is responsible for auditioning the Kelly enterprise risk management strategy (ERM) to insurance carriers and their underwriters. His role is to quantify and qualify to his underwriter winning the battle to reduce the rate is only possible by winning the war on a stellar loss ratio.

Actuarial science states that past performance is indicative of future performance and future performance is driven by behavioral science.

So Gary thinks like an underwriter but acts like an innovator.  

An enterprise risk management department that thinks it must perform as a profit center instead of a cost center is innovative! He introduced me to an “Absolute Zero” philosophy when it comes to executing an absolute zero on the job injuries, on the job accidents and on the job illnesses. It starts with and ends with how his team can create tools of engagement amongst his employees that reward safety and loss prevention behavior. The real challenge is being able to synchronize that effort with the reality that “stuff happens” and orchestrating what to do, who to call, how to expedite services and resolve issues in the shortest period of time for the least amount of expense. 

Gary and his team are dedicated to winning the behavioral science war by instilling a consistent message or multiple impressions on the virtues of workplace safety and security. His commitment to transparency and trust makes for a workforce that believes that his management style is to be an advocate first instead of an immediate adversary in the event of a work related accident, illness or injury. 

If you want to think like an underwriter and act like an innovator then welcome to the Aclaimant platform. There is no excuse for why a staffing firm owner can’t make a positive difference in outcomes before, during and after a claim is reported. We are one of the most innovative and intuitive underwriting and risk mitigation platforms specific to the staffing industry.

Aclaimant will be your staffing firm's “tool of engagement” for speed, accuracy, integrity and defensibility of a work related claim. 

According to the American Staffing Association, the staffing businesses send three million employees to work in America’s offices, factories, hospitals, warehouses, and other work sites—virtually every place that people work, staffing employees are on the job. The staffing industry, comprised of more than 17,000 staffing firms and 14 million staffing employees, contributes nearly $130 billion to the U.S. economy through temporary and contract staffing, recruiting and permanent placement, outsourcing and outplacement, and human resource consulting.

Our workflow system is technologically and behaviorally designed to shorten the lag time and lifecycle of an open claims in the unique environment of staffing firms.  By reducing the lag time reporting in medical, financial and litigation management issues your firm will win the war on reducing medical only, indemnity and litigation costs for workers compensation.

Rule #1 is “nothing happens until an incident is reported,” and Rule # 2 is “nothing good happens when an incident/claim information is reported late.”  

Aclaimant is incident agnostic and your ability to report all forms of liability exposures, property damage, auto, and near hit situations are also built into the system.

Staffing Industry experts are first to acknowledge that there is a war on talent but there are many battles to be fought in order to win the productivity and profitability war. Aclaimant is your first step in thinking like an underwriter, and acting like an innovator.

Interested to learn more?  

Schedule your free demo today!