THE CLIENT

A retail lighting company located in Boston, MA.

THE SITUATION

This company came to Genesis after opening up a new location. At the time, they had very bad claims experience and were paying a premium for their Workers Compensation insurance. Because insurance companies use an employer’s loss history as a predictor of future losses, the company was feeling burdened by the prior owners’ premium modification rating and needed a way to improve their new business environment.

The new owners felt that there was a better way to run the business but they needed a cost effective plan to turn things around -- with tools and resources to help get things back on track.

THE GENESIS SOLUTION

The Genesis Risk Management team partnered with the company to redesign their approach to safety. Various safety issues and exposures were identified during a routine walk-through and subsequent controls were put in place to reduce the overall claims frequency.

By partnering with Genesis, the company was able to better understand the value of a safety approach. Monthly maintenance walk-throughs continue to promote safe work habits. Recognizing that good loss prevention and control can cut costs dramatically, the company immediately took on a proactive role and began implementing the necessary changes and including the employees in the process.

• Sustainability – By understanding that cost containment is as important as claims management, the company reports that their performance history is now indicative of their commitment to safety and overall management competence.
• Employee Buy-In - By providing the company with the assessment tools they needed, including inspection checklists, management education and employee training, Genesis helped the company gain much needed employee buy-in.
• Partnership that Goes Above & Beyond – When the Genesis Workers Compensation Department went the extra mile and contacted the MA Ratings Bureau to help the company establish their own rating, independent of the prior owners, the company realized they had a valuable partner.

The company’s Workers Compensation insurance premiums are now significantly reduced and the company is realizing increased productivity from their employees, saving both time and money.