"On the one hand, Workers Compensation might appear as a 'commodity' when compared to other forms of insurance and risk management. You may think it's the same "product" no matter where you go. But there's more than meets the eye."
"In one case, over a two-year period, we were able to reduce an $895,000 premium by $368,000 by progressively putting in procedures and strategies. It meant spending lots of time with the client reviewing, analysing and implementing. However by being proactive, we were able to reduce their existing claims costs and streamline the managing of claims.In another case, a major motor vehicle retailer was paying $994,000 in premiums through their previous broker.
The Austbrokers Workers Compensation and Policy Management teams were able to identify some significant discrepancies. For example, the client had been incorrectly classified and there were some alarming claims management issues and lack of procedures.
Through the implementation of procedural changes and some high level negotiating, Austbrokers was able to bring the premiums progressively down to $635,000 in a space of two years.
We often hear the comment, 'Workers Compensation is pretty straight forward isn't it? So what do you actually do?" Here is an indication of our services:
Review current policy and premium structure in all States of Australia.
Review classification rates in all States.
Conduct quarterly reviews with company representatives and agents where applicable.
Monitor renewals and ensure all documentation is correct and received in a timely manner.
Ensure invoices have been received for all policies and are accurate.
Ensure all instalments and premiums are paid when due.
Market underwritten States prior to renewal.
Provide ongoing reports forecasting future premium costs and the impact of claims, in all States where applicable.
Provide ongoing technical advice in relation to claims procedures and company structure. We assist in Rehabilitation and Occupational Health & Safety Procedures using external providers where required.
Review all current claims and provide a report on status, accuracy and options regarding the ongoing management of outstanding claims.
Co-ordinate Certificates of Currency to be issued.
"Workers Compensation is pretty straight forward, isn't it?...No!"
Austbrokers Sydney Pty Ltd | Insurance specialist, experts in house
Austbrokers Sydney Pty Ltd is part of one of the three largest insurance broking networks in Australia with 30 years in Financial Services, over 250,000 clients nationally, and over $1 billion in insurance premiums. You could say we’ve earned our stripes. And we only got there by focusing on our clients.
Our team includes hand picked industry specialists. Without putting too fine a point on it, most generalists in this highly complex specialised area of insurance and risk management just can’t possibly give you confidence that they have the depth of knowledge, the industry experience or the acumen to negotiate the ‘minefield’ of insurance, let alone adequately tailor solutions that give you the right cover at the right price. You can end up paying thousands too much, and get far too little.
If you DO need to make a claim, you want a broker with a solid reputation for going in to bat for you, representing you, (not the insurer), and NOT giving up until YOU have the very best possible outcome to your claim.
It’s for all these reasons you’ll be absorbed by the ‘human stories’ in these pages. It’s our belief you’ll see that insurance isn’t about filling in impersonal forms and high premiums. It’s about people. It’s about you. It’s about a company with the passion and commitment to protect you and your interests.
Call NOW and experience the difference! (Each specialist has a direct line.)
Level 10, 1 Elizabeth Plaza, North Sydney, NSW ...