Self Insurance Feasibility Study
WCD can assess your organisation’s preparedness to enter into self-insurance from a financial, OHS and Claims Management perspective.
We will arrange for a feasibility study to be undertaken which allows a thorough analysis and financial comparison between self-insurance and the existing insured environment.This study combines the use of an Actuary to prepare forecast claim cost models, based on historical data, with an opinion on existing and required skill and resource bases to maintain a self-insured programme. The cost of this actuarial assessment is incorporated within the overall fee for this review.
You may already have in place resources capable of managing the transition from insured to self-insured. WCD will identify these resources as well as outline other costs associated with the set-up of self-insurance.
As part of the process, we will help highlight the issues and areas that need to be addressed and, should a decision be made to pursue self-insurance, convert these into a business plan.