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Targeted Risk Improvement Program for Loss Prevention

Reduce claims cost through a consultative approach. Benchmark agencies using CPH methodology. Enhance LP efforts for savings.

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Targeted Risk Improvement Program for Loss Prevention

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  1. LAORM Loss Prevention Targeted Risk Improvement Program

  2. Reduce claims cost through a consultative approach to Loss Prevention. • Target/Benchmark agencies by use of Cost Per Man-hour (CPH) methodology. • Refocus & enhance the agencies current efforts from a LP standpoint. Program Overview

  3. 2010 WC claims cost the state 30.2¢ per man-hour worked • A reduction of just 1¢ per man-hour would save the state $1.9 million in claims cost in a years time. • A reduction rate of 1¢ per man-hour would result in a cumulative savings of $18.6 million in claims costover the next 4 years. • Maximum results can only be achieved through commitment, cooperation and support at all levels. Program Facts

  4. How is the CPH Calculated: • Total number of hours worked per year divided by the total claims cost for that year. • Avg. cost per hour that goes towards WC claims cost.

  5. Top Performing Agencies:

  6. Currently, fourteen agencies are participating in the Targeted Risk Improvement Program Agency Participation:

  7. Identify agencies/locations in need of additional LP support • Publish CPH findings & invite agencies to participate in the Program. • LP Consultant conducts detailed loss analysis by Line of Coverage (i.e., Workers Comp, General Liability, Commercial Auto, etc.), accident type, occupation, location, etc. The Targeted Process:

  8. LP Consultant will meet with agency representative to review loss data, establish program goals, and review process protocol. • Work alongside agencies’ LP Coordinators to find solutions that meet the agencies needs and budget constraints. • Discuss & recommend tools available to the agency. • Monitor Results. Process, cont…

  9. iCOW (Internet Claims Opening Wizard) • Trending Reports • Accident Type by Incurred Amount (WC) • Cumulative Loss Run (WC & GL) • NWC Claim Classification by Incurred Amount • Claimant with Multiple Claims (WC) • Identify Loss Drivers TRIP Basics

  10. Types of Loss • Workers’ Compensation • General Liability • Personal injury to non-employees and damage to property of others • Property • Damage to building/premises, equipment, or materials • Transportation • Auto liability, physical damage, fleet management TRIP Basics , cont…

  11. Executive Staff • Managers/Supervisors • Safety Coordinator • Internal Auditor • Human Resource Managers/Personnel • Operations Manager • Special Divisions (Dietary, Medical, Security, Safety Committee) TRIP Partnerships

  12. Examine alternative techniques to reduce/eliminate exposure • Identify solutions that fit the management team’s style • Solutions must fit the agency’s budget and staffing situation • Encourage establishment best practices • Identify strengths as well as opportunities within the agency TRIP

  13. Thank You for Attending! Jealena Gros Loss Prevention Officer Targeted Risk Improvement Program Consultant FARA Risk Control Services 400 East Kaliste Saloom Rd, Suite 4500 Lafayette, LA 70508 (877) 586-3272 ext 2778 | Toll Free (337) 408 - 2778 | Direct Line (337) 235-4118 | Fax Jealena.Gros@fara.com | Email www.fara.com | Web

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