Top reasons why workers’ compensation agents should add this program to your carrier portfolio (or, How to sell your quote)
Workers’ compensation agents know how crucial insurance is to their commercial clients. In one year, more than 5,000 workers died from a work-related injury in the U.S. Another 2.9 million workers suffered non-fatal injuries, one-third of which required days away from work.
Managing workplace safety and specific worker injuries is a burdensome task for many companies. Many simply don’t have the manpower to adequately identify and mitigate workplace risks and subsequent work comp claims. Add to that the ongoing onslaught of fraudulent claims that must be investigated and resolved, and HR teams and safety officers may be overwhelmed. That’s why Arrowhead’s program of workers’ compensation insurance, secured by three A or A+ rated carriers, can help.
What should a successful work comp program include?
Solid, stable carriers. Of number one importance to workers’ compensation agents is, who’s the carrier? Arrowhead’s underwriting integrity is complemented by financially stable carriers with a deep expertise in workers’ compensation. All are rated A or A+ by AM Best with superior financial strength.
Market expertise. Arrowhead focuses its work comp markets in California, Arizona and Nevada, where we’re deeply familiar with state compensation laws and practices.
Specialized, in-house claims teams. Also of primary importance to workers’ compensation agents is, who will be handling all claims, and what’s their success rate? American Claims Management (ACM), a wholly owned subsidiary in the Arrowhead family, provides claims services for all our work comp clients. This carrier-minded administrator offers experienced bilingual adjusters, advanced reporting services, real-time claims reporting and plan-of-action reports.
“Claim success is based on immediate intervention and proactive guidance by our managed care team to facilitate return-to-work as quickly as possible,” explains Paul McIntosh, vice president of marketing for our Workers’ Compensation Program. “The ACM team not only monitors an effective course of treatment, but at the same time, mitigates the extent of disability through effective return-to-work practices and reduces the instances of attorney involvement.”
ACM also offers medical cost containment, aggressive fraud investigation as well as recovery and salvage. “Qualified accounts have a dedicated claims adjuster who contacts our mutual client within 24 hours of bind confirmation,” McIntosh said. “They will review with your client a review of our claims kit, claims reporting options and medical provider network.” They may also receive quarterly or semi-annual claims reviews and advanced reporting services, he added.
Cost control services. ACM’s three subsidiaries are fully committed to providing superior service and claims handling with integrity. These include
- Marquee Managed Care Solutions: medical cost containment plus full-service managed care solutions and custom strategies to save clients money.
- Investigation Solutions Inc.: A multi-line field adjusting and investigation company providing nationwide field investigation and surveillance.
- Superior Recovery Services: Our aggressive recovery collection company experienced in identifying and pursuing all recovery opportunities on claims.
Medical provider network. Carefully selected specialists and facilities have been chosen to best treat work-related injuries and have proven to successfully treat injured employees while lowering claims costs by as much as 25 percent.
Loss control services. “Because workers’ compensation agents may not be experts in workplace safety, our work comp team will perform an in-person loss control survey in most cases and develop a loss control action plan for the duration of the policy,” said Michele Mayer, Northern California marketing manager for Workers’ Compensation. “Our loss control professionals are specifically trained and experienced in loss prevention, mitigation, risk transfer and other risk management techniques.”
“Our goal is to reduce your risk’s cost, working closely with you and your client to identify loss exposures, claim trends and potential loss sources,” McIntosh added. “Then we develop a service plan to monitor progress.”
The work comp team also offers various training materials, from ergonomic task analysis services or OSHA compliance to fleet safety and safety incentive programs.
Related: Workplace safety reward programs help stop accidents before they start
Billing options. Available from Arrowhead carriers, deposits can be as low as ten percent with monthly reporting or installment options. Renewal accounts may receive deposit rollovers when set up on monthly reporting and no payment issues.
Other reasons why workers’ compensation agents should choose Arrowhead
Claims track record. “Our claims report card speaks for itself,” McIntosh said, with
- 25% lower ultimate loss and ALAE (allocated loss adjustment expenses) paid
- 40% lower ALAE paid on closed claims
- 35% faster closure rate
- Indemnity paid at 24 months = $1,686, compared to industry average, reported by WCIRB, of $3,108
- Loss as percent of ALAE = 8.19%, compared to 11.8% WCIRB with state fund and 15.23% without
Underwriting expertise. “We have the underwriting pen for several national carriers, providing our producers with a variety of options to best meet your client’s needs,” said Beth O’Reardon, Southern California marketing manager for Workers’ Compensation. “By understanding the exposures involved in a particular risk, we can provide a solution that meets your client’s risk tolerance and economic goals. Our underwriters have years of expertise in every industry segment.”
Technology. Instant online quotes are available for accounts up to $20,000 in manual premium. With our Acord bridge, the process of downloading your applications is streamlined, requiring less inputting time. Said one Northern California producer, “What I like best is the ease of submitting with your Acord upload. The website is easy to navigate and includes great information regarding class appetite.”
Our strength is in our verticals
We specialize in a number of industry segments, including
- Agriculture
- Automotive service and repair
- Construction/contractors
- Food services
- Habitation
- Hospitality
- Manufacturing
- Mercantile
- Transportation/delivery
- Schools
- Professional services
- Short-haul trucking
- Safety and safety installation
- Landscape gardening
What do producers say about Arrowhead’s Workers’ Compensation Program?
“Your online system makes it easy to quote and submit online, your underwriters are great to work with, and your commissions are right in line with everyone else. And your response time is better than anyone else’s!” – Diane Nielson, Desert Empire Insurance
“You’re really easy to communicate with. I really like how you care about your relationships/ partnerships. You go above and beyond to make sure issues are resolved.” — Nichele McDaniel, 5Star Specialty Program
“Several reasons why we choose Arrowhead’s Work Comp: Good customer service by the carrier AFTER the bind is imperative, when the underwriter, service and claim can provide the info you need. Claims responsiveness is also important, as is the attitude of the new business and renewal underwriters. It’s always good to feel like you and your client are not just a number. It is far more preferable for both our client, and us, to feel like our business is more than a statistic to the carrier.” – Candi Chamberlain, Whitecap Insurance
“Arrowhead’s online rating platform is great – I don’t mind entering basic information and uploading the documents such as loss runs, ACORD applications, and supplemental applications, but some online raters make the agent spend way too much time entering the submission. I avoid those carriers.” – Louisa Knapp, BB&T
“Underwriters actually underwrite, they are available and willing to review each account individually.” —Gina Stanley, ARM Insurance Services
Related: How to boost revenue with insurance agency customer service
What does Arrowhead require from producers to access the program?
Arrowhead is selective in appointing workers’ compensation agents to this program. We require that
- Your agency must have an established book of business with a minimum of $1 million in-force written premium
- Once your agency has been granted access to our program, we set written premium commitments and provide regular agency report cards
- We do not accept captive agents or wholesalers