Workers compensation is a “people business. " This concept is simple to say but, too often, difficult to execute - especially given our reliance on technology and mass communications. One workers compensation provider offers insight thanks to their specialized expertise in workers compensation.
Key Risk maintains its sole focus on workers compensation while the industry leans toward bundling multiple lines of coverage. In 2007, Key Risk delivered better outcomes and outperformed the industry significantly.
The company's success is based on their robust, multi-faceted approach to claims management. According to the company, five factors contribute to delivery of more effective workers compensations programs. The factors are:
Specialized expertise in workers compensation is working for Key Risk. The company's track record of success seems counter-intuitive, especially given escalating medical costs, complex federal and state mandates, and jurisdictional factors. However, regardless of the market conditions, the company is not going anywhere, but up. In fact, you could say the company is actually growing fast by leading the way back to industry roots and taking care of “people. "
Footnote: *The frequency and severity trend analysis was based on Key Risk Insurance Company data over a 5-year period, which was policy years 2002-2006 with a data evaluation date of June 30, 2007, as compared to NCCI results for a similar five year period.
**Source: NCCI State Of The Line, May 2008
Doran founded Quixote Group as an independent business research and market consulting firm. She is a frequent contributing editor and market trends analyst on information dealing with business practices related to corporate branding, economic development, environmental issues, manufacturing, insurance, transportation and logistics, and may be reached at: 336-544-2406 or firstname.lastname@example.org