Workers Compensation Insurance
The More You Know, The More You Save.
Workers Compensation is one of the highest insurance costs for businesses and other organizations. Traditionally, these premiums have been known to rise and fall without warning if not given the appropriate attention, creating serious problems from a cost management standpoint. However, if premium changes could be better predicted and understood, they could be more effectively managed. Enter Mod Master from Unland.
What is Mod Master?
Mod Master is a predictive modeling tool provided by the professionals at Unland, capable of running complex scenarios for new or existing clients to determine how current losses could impact future premiums. This program enables Unland to assist its customers with a more accurate business planning approach. Mod Master measures a variety of data, including:
- Total $ claims over number of years
- Loss Detail by Cause of Injury
- Loss Detail by Nature of Injury
- Loss Ratio Analysis – Expected vs Actual
- Identification of “Controllable Mod Factor”
- How certain losses impact the Mod Factor
- Potential Premium Savings Analysis
- Industry Benchmarking Analysis
How can Mod Master help an employer lower Workers Compensation costs?
The more the employer understands how their workers compensation premiums are determined, the easier it is to reduce those costs over time. By more accurately diagnosing the source of the losses and subsequent impact on premiums, we can focus on a strategic risk management plan to help prevent accidents. The end result is reducing costs over time and producing positive results for your business.