Achievements
A note from Superior Staffing
In the future we anticipate continued managed growth and partnering with clients that share our vision including a commitment to employee safety. We look forward to working with Assurance to continue lowering our costs that will keep us competitive in our markets.
Superior Staffing MRMH Award Story
Superior Staffing is a leading light industrial staffing services firm in the Chicagoland area. From 2008-2012, Superior Staffing had numerous claims not investigated or handled properly by their insurance carriers. The company had a stable client base and proper oversight at customer locations but needed better claims management to lower their loss rate. Superior Staffing turned to a new business partner, Marsh McLennan Agency (MMA), for guidance.
The MMA team met with Superior Staffing to lay out a plan to lower overall costs and minimize risk in the workplace. Part of this plan included an analysis of claims by customer, which identified several that needed additional scrutiny. The analysis also established benchmarking data for all customers so that Superior Staffing could tangibly measure future results to help focus on what needed additional attention.
Based on the findings and Superior Staffing’s commitment to improving results, MMA recommended terminating a large client that was responsible for more than a third of the company’s losses and hiring a Risk Manager to further reduce workers’ compensation claim costs. Superior Staffing agreed and with help from MMA made the investment in a full-time Risk Manager who was devoted to aggressive and proactive claims oversight and promoting worksite safety.
A strategic decision was also made to pursue a large deductible workers’ compensation program that would give Superior greater control over the direction and outcome of claims. Strong claims management and partnership with MMA and the insurance carrier resulted in a significant Experience Modification Rating (EMR) improvement producing a result far better than the industry average. With a new insurance program and Risk Manager in place, the team at Superior Staffing took advantage of ongoing education through MMA to stay up to date on industry trends and claim strategies.
Over a 6-year period, Superior Staffing reduced their loss rate by 82%, improved their EMR by 32%, experienced a 48% decrease in workers’ compensation costs and a 57% reduction in insurance expense, while more than doubling the size of their company during the same period. Having greater control over claims has allowed Superior Staffing to steadily grow, while expanding their margins and bottom-line profits.
Key steps taken
The MMA team met with Superior Staffing to lay out a plan to lower overall costs and minimize risk in the workplace. Part of this plan included an analysis of claims by customer, which identified several claims that needed additional scrutiny and established benchmarking data for all customers so that Superior Staffing could tangibly measure future results to help focus on what needed additional attention.
MMA recommended terminating a large client that was responsible for more than third of the company’s losses and hiring a Risk Manager to further reduce workers’ compensation claim costs.
Pursued a large deductible workers’ compensation program to give greater control over the direction and outcome of claims.
