Mod MasterDetermining Cost Savings for Workers Comp
In many states, work comp premium can vary by over 50% from insurance company to insurance company.
To determine the greatest cost savings, we start by analyzing the cost drivers. One of the many ways to uncover work comp cost drivers for clients with accurate and actionable reporting and analysis is to utilize Mod Master software.
- Accurately project your experience rating factor before it’s created by NCCI.
- Identify the minimum mod possible and calculate the controllable mod, thus showing how much money could be saved in premiums.
- Analyze losses to show what specific losses contributed to increased premiums.
- Understand the factors affecting your mod and illustrate the value of loss control and loss prevention services.
- Identify the impact of changing your experience mod rate date.
- Forecast the mod for the next policy period.
Mod Master is one of the many tools we use to deliver long-term cost reduction strategies.