SUCCESS STORIES
Company Profile
Since 1998, this Southern California Commercial HVAC Contractor has provided excellent service and installation for some of the most recognized establishments. After obtaining a higher than average ex-mod three years in a row and in 2015 their highest ex-mod ever of 192%, the CFO of the Company decided to invite us in and hear us out. The insurance broker they were with was a National firm giving them very little assistance.
Situation
The CFO and CEO were extremely concerned about their renewal pricing due to the ex-mod increase of 57% from last year and on top of that they were hiring additional employees which would increase their payroll by 26%.
Solution
We identified 3 past indemnity claims totaling about $293,000 which the client felt were embellished and fraudulent in nature. We proposed our value proposition and they agreed for us to carry out our program.
Result
Our team was able to move them to a new carrier and deliver a quote that was 14% less than their same carrier renewal. This occurred as a direct result of the utilization of the Client Commitment Agreement that is shared with our carriers.
Company Profile
Since 1997, this fast food restaurant has always focused on delivering quality, fresh ingredients and keeping their customers happy. This restaurant is a staple in the Anaheim community and has high repeat business. The President of the Company was hit by an ex-mod of 170% due to CT claim filed in 2014 by an employee he hired a short time ago.
Situation
After further investigation, it was found that the claimant of this CT claim had filed a similar claim on his prior Employer 3 years ago. The Owner had done business with their broker for over 15 years, but received no assistance with claims.
Solution
The owner decided to hire Excelsure to utilize our claim management expertise to work on his claim which was open for more than 2 years. Our in-house claims team was able to get the claim closed in a matter of 5 months and eliminate $97,000 of excess claims cost.
Result
After the closure of the claim, the WCIRB revised the current ex-mod from 170% to 160%, thereby returning 10% of paid premium back to our client.
Company Profile
Since 2002, this Behavioral Health Center provides assistance to those less fortunate individuals looking to acclimate back in normal society. They do more business in the State than any other behavioral health center in California. The General Manager was up in arms over the workers’ compensation climate and felt he was being run over by employees filing fraudulent claims. Their ex-mod has averaged 179% for the last 5 years and was at a 178% when they contacted our agency.
Situation
The General Manager did not feel their long time broker who was a friend to the Owner was being proactive. He listened to our value proposition and hired our team to deliver safety meetings, new hire screening, policies & procedures and claims management.
Solution
We identified 2 past indemnity claims totaling about $303,000 which the client felt were fraudulent in nature. These 2 claims were open at the time for over 3 years. Our in-house claims team was able to get the claims closed in a matter of 7 and eliminated over $75,000 of excess claims cost.
Result
After the closure of the claims, The WCIRB revised the current ex-mod from 178% to 137%, thereby returning $13,758 of paid premium back to our client.
Company Profile
Since 2006, the two Owners of a chain of 14 Subway stores has had their insurance managed by a Regional Insurance Brokerage. Their workers’ compensation costs driven by their high ex-mod for many years has sucked the profits from their slim profit margins. They needed a firm that was going to stand by their side and help them get through their difficulties.
Situation
There was a total of 11 claims that occurred over the past 4 years with the partners believing only 3 of those claims were legit. Their ex-mod was at a 220% when we met with them. The partners listened to our value proposition and hired our team to deliver the services outlined in our client commitment agreement.
Solution
Our in-house claims management team worked on all the open claims aggressively, reducing open reserves and closing out a majority of the claims in a matter of 6 months.
Result
The WCIRB revised the current ex-mod from 220% to 208%, thereby returning 12% of paid premium back to our insured. In addition, the ex-mod for the following year dropped to 177% and will continue to drop with the utilization of our services.