Planning for the Unexpected

What if you could accurately predict the costs of workers’ compensation claims for your organization? Well, now there’s a way. Thanks to our 40+ years of protecting assets, we can make a difference by helping predict your future costs.

Through nationally-known experts and an in-depth analysis of modification factors, IMA can show how a variety of outcomes and situations will affect your bottom line. Experience modification factor services include:

Experience modification factor projections

The use of software programs to project your experience modification factor several months in advance of its release, to help you prepare for the next policy renewal. We can show you how claims will affect future premiums or your lowest possible mod factor could be without injuries.

Experience modification factor audits

What if you’ve been overpaying your carrier this whole time? It happens more than you think. IMA will audit the past three years of your carrier’s policy information for possible errors and then work to fix any adverse information. We recently saved a client nearly $10,000 in premium costs with one simple error correction.

Deductible cost & retention plans/benefit analysis

If you work in one of several net-reporting states in the country, your company can benefit from a potential cost-savings opportunity using a small deductible program or a large retention plan. IMA will evaluate the opportunity by looking at all premium discounts, all applicable deductible reimbursements and how the lowered claim dollars would impact your experience mod factor. Ultimately, you have the information needed to make an informed decision on the dollar amount of retention that best serves your company’s needs.

Don’t React. Plan.

IMA wants to help your company prepare for its unique workers’ compensation challenges. By planning, and not just reacting, you can better care for your employees’ health and safety. Through a variety of programs, IMA can make sure that your most important assets are protected.

Workers’ compensation educational opportunities

IMA can provide a formal presentation with your executive or human resource teams on best-of-class workers’ compensation topics. Learn from others with white papers and articles on various workers’ compensation issues. IMA University brings its nationally-known experts to present on workers’ compensation issues and trends. IMA professionals and certified instructors can teach your key staff on a variety of workers’ compensation topics.

Classification code assignment review

Is your business growing and diversifying? IMA can review your classification codes for accuracy – which is an important consideration for the future cost of your workers’ compensation premiums. These important achievements can lead to premium credits for your organization. Let IMA’s well-versed team assist with your application, renewal or appeal process.

Mergers and acquisitions

Looking to grow with a merger or acquisition? Before the transaction is complete, we can help assure accuracy in the workers’ compensation injury data that is blended through the acquisition and advise you of what the combined experience mod factor will be.