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How Agents Can Help Employers Manage Workers’ Compensation Costs

How Agents Can Help Employers Manage Workers’ Compensation CostsA workers’ compensation insurance agent is typically viewed as someone who sells an insurance product and nothing more. From there, the employers are often left to their own devices for workers’ compensation management, and may or may not renew their policy with the same agent later on. However, insurance agents who employ a more hands-on approach can actually help employers manage their workers’ compensation costs in a more effective way, leading to happier clients and more referrals.

Here are a few ways in which insurance agents can help employers manage workers’ compensation costs more effectively:

  • Ensure workers’ compensation policies meet the individual needs of each employer. Get as many details as possible from clients, search the market for favorable options and work closely with the employer to find the best possible fit. This helps to make certain that the employer is not paying for too little or too much coverage.
  • Be an effective liaison for the employer and insurance company. Not all employers know the ins and outs of the industry or understand all of the terms used, leaving them ill-equipped to have a conversation with the insurance company. Agents should position themselves as go-between, helping the employer navigate and understand policies, procedures and pricing; demonstrating their value to the employer as more than just an insurance salesperson.
  • Help employers stay informed and prepared. Share relevant workers’ compensation news with employers on a regular basis. Help prepare employers for the inevitable workers’ compensation audit by offering to review payroll records, confirm job classifications and look for any mistakes before the auditor finds them. Not only does this help to keep clients informed and prepared, it also keeps communication open and reaffirms the agent’s value to the client.
  • Prioritize claims management. Too often insurance agents become hands-off during the claims process, referring the employer to the claims department and considering that the extent of their obligation. However, as claims often get passed from adjuster to adjuster throughout the life of the case, the agent is typically the one consistent contact that an employer has throughout the workers’ compensation claims process. By being more involved in management of claims, the agent can follow up with adjusters frequently to ensure that claims are handled efficiently and nothing falls through the cracks.
  • Set employers up for successful return-to-work rates. One of the ways to help employers increase their return-to-work rates is by referring their clients to excellent physicians. By researching, vetting and building long-term relationships with quality doctors who are familiar with workers’ compensation cases, agents can give their clients the best options possible for employee recovery. Agents can also go above and beyond by helping employers create a recovery-at-work program, identifying appropriate work activities for recovering employees based on doctors’ restrictions.

About ASIA Workers’ Compensation

Associated Specialty Insurance Agency, Inc. has been “The Workers’ Compensation Specialist for Brokers and Agents” for the past two decades and is committed to providing brokers and insurance agents across the East Coast with expertise and services to develop a Workers’ Compensation policy. For more information about how we can assist you with claims management, anti-fraud measures, and more call (610) 543-5510 to speak with one of our professionals.

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