Why you need to offer a holistic approach to workers' compensation

“There is no silver bullet in workers’ compensation,” states Adam Price, CEO of Kinetic. “Delivering safer outcomes requires innovation across the entire workers’ comp lifecycle.”

Breaking it down: The essential elements of workers' comp

The workers' compensation lifecycle can be broken down into three connected stages: prediction, prevention, and management.

Each stage presents an opportunity to reduce risk and cost, but it's the connection between them that creates the biggest return. At Kinetic, we’ve seen firsthand that employers and brokers who lean into all three outperform those who rely on point solutions.

Prediction

The first step in effectively managing workers' compensation is prediction. This means identifying patterns that indicate where, when, and why injuries are likely to occur. This goes beyond traditional loss run analysis. These insights not only guide safety strategies but also pinpoint which smart, technology solutions are likely to have the biggest impact.

Prevention

Once you have identified where injuries are most prone to occur and what tends to cause them, you can help shift your client’s focus to prevention. This means avoiding incidents that could lead to injuries and workers' compensation claims.

Prevention is where our wearables shine. They identify high-risk movements as they happen, notifying users about possible damage and how to avoid it. With Reflex, you can help your clients decrease workplace injuries by as much as 60%, particularly as employees become more aware of their movement patterns.

Management

Of course, you can’t fully avoid all accident risk, and that's where management comes in. An effective claims management process provides employees with the coverage they need while not allowing claims to still build up cost.

In addition to having a streamlined claim process that helps employees quickly get the coverage they need, consider other options. Kinetic's Rapid Return-to-Work program is one example.

It identifies each worker's specific restrictions to support a safe and timely return. It helps them get back to the workplace faster while still following the terms of their recovery. This strategy can reduce the cost of claims by up to 34%.

This matters more than many realize. Claims are where relationships are won or lost. Mishandling a claim is often the fastest way to erode trust with the employer and the injured worker. But when claims are handled proactively, retention goes up and so does client satisfaction.

Adding workers' comp risk management tools to your client's arsenal

For many employers, adopting a holistic approach to workers' compensation can feel overwhelming. As their broker, your guidance can make it feel doable.

Start with the basics

Employers don't have to adopt every tool at once. We begin with prediction technology that looks at the business as a whole. Then, we provide essential advice on everything from traditional loss control measures like anti-slip shoe programs to smart technology solutions like the Rapid Return-To-Work program.

Integrate into what clients are already doing

To succeed, new processes need to fit into the things your clients are already doing.

“The number one challenge around prevention is change management,” says Price. “This is where our focus on specialized industries matters. When you really know the operation, you can guide a policyholder through that fear.”

Focus on high frequency, low severity

It’s difficult to predict the risks associated with severe incidents as the root causes are often not as ingrained and visible in the system. Instead, we focus on accidents that happen more often in the workplace, these include sprains and strains in industries like:

• Parcel delivery: where drivers are constantly moving, twisting, and lifting.
• Warehousing: where repetitive motion and slips are the most common causes of claims.
• Manufacturing: where turnover is high and small improvements add up fast.

By keeping the focus on preventable injuries, your clients can create a safer work environment and save on future workers' compensation payouts.

Revamp your workers' comp offering

If you're looking for a new way to provide workers' compensation to your clients, Kinetic is here to help. We offer a holistic approach that gives equal attention to both risk management and claims outcomes, helping your clients prevent injuries and reduce costs.

That’s exactly what sets our best broker partnerships apart. “Brokers that we work really well with are looking for that innovation and are looking to bring that as a different experience to their customer base,” says Price.

Let’s connect to explore how Kinetic can help you deliver more value to your clients.

Next, we'll dive into the role of technology in injury prevention.