Performance Improvement in Self Insurance
Industry: Financial Services (National)
Issue of Concern: A large self-insurer needed to meet a range of compliance issues within selected jurisdictions to maintain their licence at the highest level. Concurrent with this imperative was the desire to manifestly improve the performance of claims in terms of opened and closed matters and for there to be a clear reduction in the accrued liability of the entire portfolio.
Agreed Resolution: A range of projects were agreed upon over an 18 month period to address the various concerns which were discovered along the way in terms of compliance. These were addressed and the specialist WCD Claims Management Processes introduced.
Outcomes: Over a full two year period the client enjoyed the following outcomes:
- 27% reduction in accrued liability
- 55% reduction in the number of open files
- 3 year Full Licence Renewal
Current Position post Resolution: This organisation continues to pursue the initiatives which have resulted in great success and a different way of managing employees who have issues in the workplace for the benefit of all.