Workers comp tool to boost broker business

Workers comp tool to boost broker business | Insurance Business

Workers comp tool to boost broker business
GIO Workers Compensation has developed an online reporting tool that will allow customers and brokers to access their claims data, in a move the insurer says could help brokers attract new and retain existing customers.

The self-service reporting tool, named GIO Workers Compensation OnDemand, will give large employers and their brokers more autonomy in managing claims and the injury rehabilitation process. This will allow them to take proactive steps to help injured workers return to work quickly.

GIO OnDemand will provide a range of data, such as claims financials, injury management reports, claims analytics and point-in-time reporting.
GIO OnDemand can also be used to identify injury trends and potential risks in order to improve customers’ workplace health and safety measures and prevent future incidents from occurring.

Jason Allison, chief workers compensation underwriting & portfolio management at Suncorp Commercial Insurance told Insurance Business brokers could “certainly use” the tool to attract and retain customers.

“By identifying risks and shortcomings via the data, brokers can then advise their customers on different ways to improve their health and safety, and injury management processes.”

This can lead to many benefits for an employer, according to Suncorp, such as improved morale among employees, increased productivity and reduced expenses. It also plays a vital role in helping workers recover and get back to work as quickly as possible.  All of these actions can reduce premiums.

Allison said that, for this reason, large employers and their brokers are always looking for accurate and readily available data to assist them in making these improvements.

He added: “The emphasis on workers compensation data and, therefore, the demand for it is only going to increase in the future. That’s why it’s critical for workers compensation providers are able to give large employers and their brokers the power to access this information.”