WCD’s Successful Business Analytics
Industry: Resources Group (National & Global)
Issue of Concern: This business needed to consider, in detail, how the various OHS and claims / injury management initiatives of the preceding 5 years had impacted their premium. There was also a need to examine the cost effectiveness of a range of external support services and their impact on the insurance premium.
Agreed Resolution: A specific brief was created to set clear parameters as to what qualified as being ‘assessable’ and thus allow for due review by executive management.
Outcomes: The exercise was able to demonstrate that the various specific activities which had focused upon premium reduction had brought about a combined savings over the 5 year period of just over $22 million. The relative cost of support services to deliver this outcome was only 15% of the amount saved.
Current Position post Resolution: The organisation confidently continues to pursue the various initiatives which have resulted in these savings. These are examined on a regular basis and are considered and recast as necessary to ensure that they continue to deliver results.