Industry: Resources Group (National & Global)
Issue of Concern: Client needed to consider in detail how the various OHS and claims / injury management initiatives of the preceding 5 years had impacted their premium. There was also a need to compare the cost of a range of external support services as to their cost effectiveness to premium savings over this period.
Timing: This review spanned a period from June 2000 - 2005
Agreed Resolution: A specific brief was created to set clear parameters as to what qualified as being ‘assessable’ and thus allow for due review by executive management as to what in fact had been the most successful initiatives. At this point various benchmarks were introduced to look at overall movement in premium rates, staffing levels, remunerations etc.
Outcomes: The exercise was able to demonstrate that the various specific activities which had focussed upon premium reduction had brought about a combined savings over the 5 year period of just over $22 million. The relative cost of support services to deliver this outcome was only 15% of the amount saved.
Current Position post Resolution: This organisation continues to pursue the various initiatives which brought about these savings. These are examined on a regular basis and are considered and recast as necessary to ensure that they continue to deliver