If you want to lower your organization’s workers’ compensation insurance premium, you’ve come to the right place.
As we wrote on the blog last week, the typical KPA client earns and maintains a workers’ comp rate 10 percentage points below average. That’s because organizations that use KPA tend to reduce their experience modifiers. In our Safety Pays Study, which surveyed 867 clients across the United States, we found that the average KPA client achieves an experience modifier of 90% by the 2nd year of using our platform.
What does that translate to in terms of actual savings?
Let’s use an organization in California as an example. In the Golden State, the average workers’ compensation premium is $172,660. With the average year 2 KPA experience modifier of 90%, an employer in California can expect an annual premium of $155,394, for an annual savings of over $17,000.
For a basic estimate of your potential savings, try out the following formula: