Premium Reduction our advice, programs and support provide clients with direct, bottom line savings on WorkCover premiums. P2 Group clients save an average of 50% on their WorkCover premium in the first 2 years.
Through detailed analysis and a proven process for prevention and resolution of claims P2 Group reduces your claim costs which in turn, reduces your premium.
Our clients save an average of 50% in the first 1-2 years with industry best premium to payroll rates the following years.
Many organisations fail to realise that their WorkCover premium is a variable insurance cost that can be reduced well below their industry rate.
In addition, while all organisations have budgets for key cost centres across their business, many do not set strategic budgets and targets in relation to their WorkCover premiums.
Your premium to payroll rate is the only true measure of your WorkCover costs and performance against the industry benchmark.
This calculation shows, as a percentage, what you are spending on WorkCover in relation to you remuneration (payroll). The remuneration of a growing business will increase, but the premium to payroll rate should not increase.
The benchmark depends on the size of your remuneration. Typically, the larger your remuneration, the lower your premium to payroll should be. For example,
Regardless of your premium to payroll rate, P2 Group will be able to assist your organisation to introduce new strategies, procedures and training to help reduce your premium and deliver direct bottom line savings.
Lowering your WorkCover premiums is a key opportunity to reduce labour costs while maintaining staff levels and protecting jobs.
It can be achieved by reducing the most important factors driving your WorkCover premium: your claims costs and your claims estimates – P2 Group is able to reduce both of these key costs.
P2 Group clients save an average of 50% on their WorkCover premium in the first 2 years.
WorkCover Payments and Premiums Workshop
Control WorkCover Claims & Premiums
P2 Groups services and strategies, save our clients up to 50% on their WorkCover premiums in the first 1-2 years.
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