Premium Forecasting
Knowledge is power in business, and managing your premium cost can provide this knowledge. The purpose of forecasting premium cost is to:
  • Track progress during the year
  • See the impact of individual instances
  • Help set and track some performance indicators
  • Provide ad hoc information as part of a program
  • Highlight any unwanted trends
  • Help implement a ‘user pays’ system so that good performers are rewarded
  • Provide long term reductions in costs to businesses

Premium Allocation

For businesses with more than one division, WCD can provide a premium allocation, which ensures an equitable distribution of costs. Methodologies are based on the formula within each State, as well as established underwriting criteria.
Premium allocation helps to:
  • Develop a reward incentive for good performance
  • Create accountability, and thereby motivate behaviour
  • Allocate costs on an equitable basis