Using safety performance to reduce your total cost of risk
With companies increasingly focused on optimizing costs and performance, our latest study of more than 700 of your manufacturing and automotive industry peers highlights 12 key elements critical to reducing your total cost of risk through safety management improvements.
12 Key study insights
Workers’ compensation costs are the tip of the iceberg.
Strains are the leading cause of loss, representing 34.4% of total claims and 41.2% of lost time claims.
While direct workers’ compensation costs are significant, indirect costs can be many multiples of them and permeate your entire income statement.
Benchmarking metrics powered by Marsh Blue[i] Claims Analytics[1]
Spotlight on ergonomics
As the world navigates through economic challenges, the way forward is to focus on your people, who will in turn take care of your business. Finding qualified employees is hard. Keeping them healthy and productive with rigorous job demands, while at the same time achieving your total cost of risk objectives and lowering your indirect costs, can be daunting at times.
[1] Our Blue[i] Claims Analytics helps clients benchmark past performance and quantify future savings potential. The easy-to-use platform aggregates claims data from all of a client's carriers and TPAs, providing a dashboard that visualizes the largest opportunities for cost savings in real time. You can then work with our specialists to develop and implement custom claims optimization and cost reduction action plans.
