Advisen and Amaxx Offer Innovative Workers` Compensation Cost Reduction Tool Kit

Thu Apr 16, 2009 2:51pm EDT
 
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Workers Comp Kit® Helps Employers Cut Costs up to 50% and Implement Best
Practices 
NEW YORK--(Business Wire)--
Advisen, the leading provider of analytics, benchmarking and market information
to the global commercial insurance industry, announced today the availability of
cost containment tools designed to reduce corporate Workers Compensation
Insurance costs. The Workers` Comp Kit® is designed by Workers Comp
professionals for buyers and brokers who can cut program costs by using the
tools. Designed by Amaxx Risk Solutions, Inc., the Workers` Comp Kit® makes a
workers` comp cost-containment program affordable for every size company,
including smaller and middle-market employers, a segment of the insurance market
that normally does not receive such services. 

"Companies leave millions on the table each year because they don't have the
tools to capture savings," said Workers Comp Kit® creator Rebecca Shafer, an
attorney and risk consultant, and former CEO of Aon`s workers` compensation
consulting unit. "Workers compensation is a controllable cost and our system has
been proven to cut costs from 20% to 50% for employers of all sizes. We are
looking forward to a productive co-marketing partnership with Advisen." 

The Workers` Comp Kit® helps companies contain workers compensation costs and
improve workforce productivity. When starting a program, the Workers` Comp Kit®
reduces time spent by 85% and once a program is running, the Workers` Comp Kit®
offers best practice assessment, scoring & recommendations for improvement, data
benchmarking and detailed knowledge modules such as forms, documents and
checklists. 

The Workers` Comp Kit® is organized into 10 educational modules containing over
60 customizable forms, presentations, scripts, and brochures. Results of the
benchmarking analysis include Recommendations for Improvement, a Return to Work
Ratio, a Cost Reduction Modules & Tools, a Transitional Duty Cost Calculator and
the detailed Benchmarking Report. The tool kit is designed logically and
sequentially so employers can implement the program in steps or all at once.
Tools are available in print and on-line versions and all are supported by live
help. 

"Companies typically spend 30% of their risk management dollar on workers`
compensation, according to the RIMS 2008 Benchmarking Survey, but most managers
are unsure how they can reduce these costs," said Mason Power, GM of Advisen.
"While companies buying workers comp and their brokers are a key part of the
100,000 industry professionals who subscribe to Advisen, the Workers` Comp Kit®
also offers a predictive analysis enabling insurance companies, state funds,
captives and reinsurers to establish a threshold risk profile for underwriting
purposes. This partnership further demonstrates Advisen`s commitment to
providing invaluable insight to the commercial insurance marketplace." 

The program is available for private labeling by insurance companies and
self-insurance organizations. For more information, visit
http://corner.advisen.com/partners_wctoolkit_home.html or
www.ReduceYourWorkersComp.com , e-mail corner@advisen.com or call
+1.212.897.4787. 

About Advisen

Advisen integrates business information and market data for the commercial
insurance industry and maintains critical risk analytics and time-saving
workflow tools for over 530 industry leading firms. Through its work for the
broadest customer base among information service providers, Advisen delivers
actionable information and risk models at a fraction of the cost to have them
built internally. Designed and evolved by risk and insurance experts, and used
daily by more than 100,000 professionals, Advisen combines the industry`s
deepest data sets with proprietary analytics and offers insight into risk and
insurance that is not available on any other system. Advisen is headquartered in
New York. For more information, visit http://www.advisen.com or call
+1.212.897.4800 in New York or +44(0)20.7929.5929 in London. 

About Amaxx

Amaxx Risk Solutions, Inc. helps companies reduce workers` compensation costs
through development of workers` compensation cost containment products such as
Workers` Comp Kit®, coaching and consulting. For more information, visit
www.ReduceYourWorkersCompKit.com or call 1.860.553.6604. 

About Rebecca Shafer

Rebecca Shafer is an attorney specializing in workers` compensation cost
containment. Ms. Shafer consults with national, mid-market companies to assess
key cost drivers, develop benchmarking comparisons, and design strategies to
reduce workers` comp costs. She has extensive experience in manufacturing,
transportation & airlines, construction, retail, pharmaceutical and publishing
industries. Her cost containment programs typically reduce a companies cost by
20-50%. Contact: RShafer@ReduceYourWorkersComp.com or call 1.860.553.6604. 





Advisen
Mason Power, +1 212-897-4796 or Mobile: +1 917-348-3998
General Manager
mpower@advisen.com



Copyright Business Wire 2009

 

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