WorkersCompensation.com's CompNewsNetwork: Advisen and Amaxx Offer Innovative Workers’ Compensation Cost Reduction Tool Kit

Advisen and Amaxx Offer Innovative Workers’ Compensation Cost Reduction Tool
Kit
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compnewsnetwork on 15 April, 2009 01:15:00
 
New York, NY (CompNewsNetwork) - Advisen, the leading provider of analytics,
benchmarking and market information to the global commercial insurance
industry, announced today the availability of cost containment tools designed
to reduce corporate Workers Compensation Insurance costs. The Workers’ Comp
Kit(R) is designed by workers comp professionals for buyers and brokers who can
cut program costs by using the tools. Designed by Amaxx Risk Solutions, Inc.,
the Workers’ Comp Kit(R) makes a workers’ comp cost-containment program
affordable for every size company, including smaller and middle-market
employers, a segment of the insurance market that normally does not receive
such services.
"Companies leave millions on the table each year because they don't have the
tools to capture savings," said Workers Comp Kit(R) creator Rebecca Shafer, an
attorney and risk consultant, and former CEO of Aon’s workers’ compensation
consulting unit.  "Workers compensation is a controllable cost and our system
has been proven to cut costs from 20% to 50% for employers of all sizes. We are
looking forward to a productive co-marketing partnership with Advisen."
The Workers’ Comp Kit(R) helps companies contain workers compensation costs
and improve workforce productivity. When starting a program, the Workers’
Comp Kit(R) reduces time spent by 85%. It offers a best practice assessment,
scoring & recommendations for improvement, data benchmarking and detailed
knowledge modules such as forms, documents and checklists.
The tool kit is organized into 10 educational modules containing over 60
customizable forms, presentations, scripts, and brochures. Results of the
benchmarking analysis include Recommendations for Improvement, a Return to Work
Ratio, a Cost Reduction Modules & Tools, a Transitional Duty Cost Calculator and
a Benchmarking Report.  The tool kit is designed logically and sequentially so
employers can implement the program in steps or all at once. Tools are
available in print and on-line versions and all are supported by live help.
"Companies typically spend 30% of their risk management dollar on workers’
compensation, according to the RIMS 2008 Benchmarking Survey, but most managers
are unsure how they can reduce these costs," said Mason Power, GM of Advisen.
"While companies buying workers comp and their brokers are a key part of the
100,000 industry professionals who subscribe to Advisen, the Workers’ Comp
Kit(R) also offers a predictive analysis enabling insurance companies, state
funds, captives and reinsurers to establish a threshold risk profile for
underwriting purposes. This partnership further demonstrates Advisen’s
commitment to providing invaluable insight to the commercial insurance
marketplace."
The program is available for private labeling by insurance companies and
self-insurance organizations. For more information, visit
http://corner.advisen.com/partners_wctoolkit_home.html or
www.ReduceYourWorkersComp.com , e-mail corner@advisen.com or call
+1.212.897.4787.
About Advisen
Advisen integrates business information and market data for the commercial
insurance industry and maintains critical risk analytics and time-saving
workflow tools for over 530 industry leading firms. Through its work for the
broadest customer base among information service providers, Advisen delivers
actionable information and risk models at a fraction of the cost to have them
built internally. Designed and evolved by risk and insurance experts, and used
daily by more than 100,000 professionals, Advisen combines the industry’s
deepest data sets with proprietary analytics and offers insight into risk and
insurance that is not available on any other system.  Advisen is headquartered
in New York. For more information, visit http://www.advisen.com or call
+1.212.897.4800 in New York or +44(0)20.7929.5929 in London.
About Amaxx
Amaxx Risk Solutions, Inc. helps companies reduce workers’ compensation costs
through development of workers’ compensation cost containment products such as
Workers’ Comp Kit(R), coaching and consulting.  For more information, visit
www.ReduceYourWorkersComp.com or call 1.860.553.6604.
About Rebecca Shafer
Rebecca Shafer is an attorney specializing in workers’ compensation cost
containment. Ms. Shafer consults with national, mid-market companies to assess
key cost drivers, develop benchmarking comparisons, and design strategies to
reduce workers’ comp costs. She has extensive experience in manufacturing,
transportation & airlines, construction, retail, pharmaceutical and publishing
industries. Her cost containment programs typically reduce a companies cost by
20-50%. Contact: RShafer@ReduceYourWorkersComp.com or call 1.860.553.6604.