Insurance brokerage Lockton has announced the launch of Lockton 360, a proprietary workers’ compensation consulting framework.
The service is designed to help employers address one of their most important and potentially costly risks.
Typically, workers’ compensation losses are one of the largest controllable expenses that any organisation can face. The losses can impact an organisation’s margins, collateral expenses and brand.
Lockton360 will be run by its experienced team of workers’ compensation specialists. The service will also provide businesses with customized diagnoses and business plans for cost reduction.
At the same time, through the service employers will be able to obtain targeted performance indicators, and receive regular monitoring to ensure results stay on track.
Hallie Cooley, assistant vice president and workers’ compensation consulting director, commented: “Sustainable workers’ compensation cost reduction requires more than just a tool, dashboard or one-time effort. Measurable progress is only possible with an understanding of what has happened, why it happened, and most importantly, an actionable plan for how to make a change. Lockton 360 offers exactly that to organizations that are struggling to manage their workers’ compensation costs.”
Said Taiym, U.S. chief operating officer, added: “Lockton 360, Lockton INSIGHT and Lockton ACT are just the latest examples of Lockton’s ability to innovate to help our clients address their most pressing risks and make efficient use of limited resources. Through these tools, we can eliminate the guesswork in workers’ compensation cost reduction strategies, helping employers take meaningful action to drive bottom-line results.”
Lockton recently launched a new Affinity Schemes business in Australia, New Zealand and Pacific, led by Tanya Dasgupta.
