Workplace Risk
Partnering with clients to reduce the frequency of injuries through leading edge safety intiatives and reducing the severity of claims through our workers compensation solutions.
These strategies will deliver a well-priced, well worked insurance program, that is designed to reduce the financial and emotional cost of workplace injuries to clients.
At Aon, we look at Workplace Risk with a holistic approach, using data-driven insights for:
- Workers Compensation
- Work, Health and Safety
- Self Insurance
- Broking
How can we help you?
Workers' Compensation
We approach your Workers’ Compensation risk through a data driven lens, working in partnership with you to help reduce the emotional and financial cost of workplace injuries. Our unique Pivot to Risk approach complements our market leading broking strategy which aims to develop and execute a sustainable performance improvement strategy, that helps reduce claims frequency, claims duration and ultimately leads to a reduction in insurance premiums.
Forensic performance assessment
- Reducing your workers’ compensation costs starts with a quantitative analysis of key cost drivers such as (i) financial performance: Premium cost, trends, industry benchmarking and (ii) Claims experience: Current position and future trends
National account strategy
- Our national account strategy is focused on simplifying the landscape for our large national clients, that are exposed to the complexity and volatility of multi-state laws and regulations.
Policy design and structure
- Various policy and program structure options exist in each state jurisdiction varying from conventional insurance, retro-paid loss (NSW, SA & QLD), risk-states burning cost programs and self-insurance. A poorly designed program structure can have significant financial implications on an employer’s balance sheet, therefore it is critical to understand and choose the best model, commensurate with your risk appetite.
Claims and injury management solutions
- One of the critical drivers to the cost of workplace injuries is how well injuries and claims are proactively managed. Aon provides advisory services designed to complement your existing framework or perform outsourced specialist functions, which will be regarded as an extension of your team.
Stakeholder management
- A critical component for success in driving optimal workers’ compensation outcomes is understanding the workers’ compensation ecosystem and choosing the right partners that support the overall business strategy. We can advocate on your behalf to facilitate service level agreements, agree KPI’s and negotiate risk management support.
Advice and guidance for self-insurance
- Self-insurance relieves an employer from taking out a policy of insurance and allows them to carry their own financial risk. Ours services include conducting feasibility studies to lodging a compliant application with the relevant authorities.
Work Health & Safety
At Aon, we look at Work Health and Safety (WHS) with a holistic approach, working with you and your business to mitigate WHS risks. We can help promote a safety culture from the top down, so you meet your due diligence obligations and keep your employees safe and productive.
WHS management systems
- Aon’s WHS practice considers both international standards (ISO 45001) and local expectations, which also align to self-insurance and regulator requirements.
Compliance and risk management
- We offer a range of services to assist in understanding what risks are appropriate for your organisation.
Due diligence and governance
- We help to identify where value creation opportunities exist, which includes identifying and validating synergies and uncovering areas of risks or potential issues early on.
Strategy and performance improvement
- To drive technical and cultural outcomes of a WHS program, a clear strategy is essential.
Psychological health and safety
- Mental health and psychological health and safety are becoming increasingly important. Organisations must proactively approach their management of psychosocial risk.
People, culture and leadership
- By investing in WHS Culture and Leadership practices, you can help your company seek to evolve beyond compliance, to increase engagement, empower your people and cultivate the right culture.
Considering a self-insurance program?
When it comes to self-insurance, Aon has the largest footprint in the Australian workers’ compensation market, including providing advice to more than 30 percent of all self-insurers nationally. Self-insurers can save an employer up to 30% of their annual premium spend and is typically an option for the larger, high performing companies.
Benefits of Self-Insurance:
- Provide significant cost savings and improve results in the management of workers’ compensation
- Provide direct incentives to improve injury prevention and rehabilitation performance
- Contribute to continuous improvement in health and safety and return-to-work performance
- Support implementation of best practices, safety, claims and injury management across the organisation
- Deliver cash flow benefits
Analysis and broking
Through our dedicated Placement Team, we will administer the placement of the workers’ compensation policies and provide professional advice for the risk state policy renewals. Where required, we will complete a marketing exercise to obtain competitive pricing from the open market.