Workers' Comp Wisdom

Workers' Comp Wisdom Present by The Institute of WorkComp Professionals

Welcome to Workers' Comp Wisdom presented by The Institute of WorkComp Professionals, featuring Preston Diamond, Managing Director of the Institute of WorkComp Professionals, and Kevin Ring, Chief Operating Officer and Lead Workers' Comp Analyst. We'll sit down with insurance industry leaders and discuss a wide variety of exciting topics that will help you understand the processes that affect this industry.

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    Unlocking Proper Classifications: Ensuring Accuracy for Client Policies

    This episode explores the nuances of classifying clients' businesses correctly from the start. We'll break down how different industries, such as construction and agriculture, follow specific classification rules while addressing common exceptions like clerical and sales roles. Learn why reading and understanding these classifications is crucial to ensure accuracy and compliance, helping you provide better long-term value to your clients. Whether you're navigating NCCI or state-specific systems, this episode offers key takeaways for ensuring the right classifications are in place. Tune in now!

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    Why Using Experience Mod as a Bid Qualifier is a Mistake for Contractors

    In this episode, Kevin Ring, Lead Workers' Comp Analyst at the Institute of WorkComp Professionals, dives into one of the most flawed practices in the construction industry—using the Experience Mod (EMR) as a bid qualifier. Contractors and businesses often rely on the Experience Mod to evaluate subcontractor safety, but this metric is *not* designed for that purpose. In fact, using it incorrectly could lead to unfairly disqualifying safe contractors and even pushing companies out of business. What You’ll Learn: - Why the Experience Mod was never intended as a safety performance metric - The reasons behind this common industry mistake - Why OSHA statistics and safety rates provide a far better measure of contractor safety - How relying on the wrong metrics could hurt your business more than help it Key Takeaways: By watching this video, you'll gain a clear understanding of how to more effectively vet subcontractors while ensuring your job site remains safe and compliant with industry standards. Whether you're a general contractor, safety manager, or an insurance advisor, these insights will help you avoid pitfalls and make smarter hiring decisions. Pro Tip: Learn the right way to assess safety performance using OSHA data instead of mod rates, and how this can save your clients money while keeping everyone safer on the job. Ready for more? Reach out for an article with more in-depth information or to discuss how to put better safety measures in place. Contact Information: Kevin Ring | Institute of WorkComp Professionals (828) 274-0959 Kevin@workcompprofessionals.com Let’s Connect: Set up a time to chat and find out how the IWCP process can help you grow your book of business and help your clients manage their Experience Mod more effectively and prevent employee injuries: ScheduleWithIWCP.com

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    Hiring Challenges and Accident Prevention in a Post-Pandemic World

    In this episode, Kevin Ring and Preston Diamond dive deep into the hiring challenges that employers face in today’s labor market. With unemployment rates ticking up slightly, businesses are still struggling to find qualified workers, often leading to hasty hiring processes and cutbacks in essential employee training. We discuss: Why cutting corners in hiring and training can increase workplace accidents   The direct connection between experience, training, and OSHA recordable accidents   How a solid hiring process can prevent costly injuries and workers' compensation claims   The impact of labor force participation post-COVID and the challenges businesses continue to faceWhether you're an employer, HR professional, or just curious about how hiring and workplace safety are evolving in 2024, this episode is packed with insights that could help you refine your own hiring strategies and improve workplace safety.

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    20 Workers' Comp Problems Bidding and Quoting Can't Solve (Part 2)

    In part two of 20 Workers' Comp Problems Bidding and Quoting Can't Solve, Kevin and Preston dive into the pitfalls of relying on bidding and quoting for workers' compensation insurance. They discuss how this common approach often leaves business owners vulnerable by failing to address critical issues like taking control of the workers' comp process, creating a culture of safety, and ensuring accurate premium audits. Kevin and Preston outline several key areas where traditional bidding and quoting fall short, such as preventing workplace injuries, managing claims effectively, and minimizing the risk of overcharges. Whether you're an insurance advisor or a business owner, this episode offers valuable insights into how to move beyond the limitations of bidding and quoting to create a workers' comp program that truly works for your business. Tune in now!

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    20 Workers' Comp Problems Bidding and Quoting Can't Solve (Part One)

    Welcome to the first part of our series on the limitations of bidding and quoting in workers' compensation programs. In this episode, Kevin Ring and Preston Diamond dive deep into the critical issues that simple quotes can't address, helping business owners take control of their workers' comp processes.    Key Highlights Include:  Control Over Workers' Comp: Learn why relying solely on quotes doesn't empower business owners to manage their workers' comp effectively. Culture of Zero Injuries: Discover how creating a strong safety culture can prevent injuries and improve overall workplace safety. Choosing the Right Medical Providers: Understand the importance of selecting skilled occupational medicine providers to handle workers' comp claims. Exaggerated Employee Injuries: Find out how a solid process can help reduce exaggerated injury claims and ensure a smooth return-to-work transition. Preventing Overcharges: See why quotes alone won't help identify and fix overcharges in workers' comp premiums. Proper Classification: Learn about the importance of accurate classifications in workers' comp policies and how they can change over time. Reducing Attorney Involvement: Explore strategies to minimize attorney involvement in workers' comp claims by maintaining a transparent and supportive process for injured employees.   Join us as we reveal practical tips and strategies to improve your workers' comp program beyond just getting a quote. Don't miss out on our upcoming episodes where we continue to tackle these critical issues.

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    Creating a Process Map

    This week, we will discuss how you can assist your clients in solving their problems and reducing their overall stress. By mapping out your process and implementing appropriate systems, you can be prepared for any situation that arises. We hope you find this bit of wisdom enjoyable!!

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    Buyer Research

    This week, we discuss strategies for engaging with new buyers and determining how to position yourself for success. What steps do you take to secure the deal? Do potential clients feel at ease when they see your call? Tune in to discover the most effective methods for researching your buyers and closing the deal.

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    Strategies to grow your client base

    Join us this week for another insightful episode with hosts Kevin Ring and Preston Diamond. We'll be diving deep into strategies for demonstrating to clients why they should choose your agency over the competition. Have you developed a compelling list of reasons for prospects to pick you? In this episode, we'll discuss how to craft persuasive arguments and highlight your agencies strengths. Tune in to now to learn effective techniques for growing your client base, enhancing your competitive edge, and ensuring your agency stands out in a crowded market!

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حول

Welcome to Workers' Comp Wisdom presented by The Institute of WorkComp Professionals, featuring Preston Diamond, Managing Director of the Institute of WorkComp Professionals, and Kevin Ring, Chief Operating Officer and Lead Workers' Comp Analyst. We'll sit down with insurance industry leaders and discuss a wide variety of exciting topics that will help you understand the processes that affect this industry.

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    Workers' Comp Wisdom Present by The Institute of WorkComp Professionals
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    © Workers' Comp Wisdom Present by The Institute of WorkComp Professionals
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    Workers' Comp Wisdom