I have been in Victorian Workers’ Compensation for close to 20 years. I’ve spent time at insurance agents, a large self-insured employer, and at WorkSafe Victoria. The focus of all these roles was using the insights gained from data analysis to improve business performance in safety and claims management.
I spent the last few years in WorkSafe Victoria’s Insurance division as the manager and principal analyst of the Pricing and Performance Analytics team. In short, I was responsible for analysing the risk profiles of the industries that operate in Victoria and using that analysis to determine the factors that form WorkSafe Victoria’s premium model.
In simple terms, an employer’s premium in Victoria is comprised of three components:
• the Industry Rate (IR) of the industry that they operate in
• the employer’s claim performance (EPR) in relation to that industry, and
• their remuneration
When most people talk about improving performance and lowering premiums, they are talking about improving the EPR. That is an important factor. An employer’s claim performance is an important part of their premium, particularly if they are a large employer.
My approach is different though. My aim is to improve the factors that determine the industry rate. My experience at WorkSafe gives me the unique skills needed to do this.
My goal is to work with recruitment and labour hire businesses to improve their industry rate and achieve a fairer premium outcome.
If you'd like to find out how this can help you, please get in touch.