Frequently Asked Questions
1. What do I need to do in order to get an Analysis?
All you need to do is sign request forms for both your 4 year loss results and your 4 year Ex-Mod report. This will provide us with the necessary information to do the analytics. This information is from your insurance carrier and the Workers Compensations Bureau and will not be requested from your current agent.
2. Will my current Agent know I’m looking at other options?
In almost all instances they will not know. The requests are sent to the insurance carrier and the Workers Compensations Bureau. In rare instances they could be told by the insurance carrier. If that happens simply state that you are having analytics done by one of the Workers Compensation companies that offer that service.
3. What is your average reduction moving forward?
We follow these statistics very closely. In 2013 we reduced the loss amounts by 44%. This reduction is having positive impact on our clients insurance costs for the next 3 years. Our target result is per year is 30%, so last year was a very good year.
4. How quickly can you implement?
We start making changes in the first month of our relationship. It is different with each client but typically we have 3-5 changes in process or procedure that we will have you do in the first year we work with you.
5. How do I just get a quote that saves me money?
Workers Comp insurance is a little different from your other insurance. It is based on your past experience and your current payroll and job classifications. All of that impacts your current and future rates. IT took you 4 years to establish your current rate and it will take some time to establish a better rate. The key is to have a plan that begins to make those changes immediately. We will show you where you are, how you got there and how we can change those results moving forward.
6. How can we get an Analysis when we are busy running our business and don’t have time to dedicate to Worker’s Comp?
We strive to make the transition as easy as possible for you. Through Knight-Dik and our 3rd party services, 80% of the heavy lifting is done internally by us. The extra 20% is best handled by a Controller, HR or Office Manager within your company.
7. What if I don’t want to fire my existing Agent?
What we ask is you to consider giving us an opportunity to write just your Worker’s Compensation Insurance. In most cases your agent won’t mind if you keep the rest of your insurance with them. You can let them know you need a specialist for your Worker’s Comp. We can discuss further strategies with you that have worked for other clients in the same situation as you.