Through our in-depth analysis, we use a large data set of client information to help predict how existing claims costs will develop and how future periods will perform. This allows us to have robust discussions with the insurance market when presenting the risk of a client’s insurance program and negotiating renewal rates.

— PEOPLE SOLUTIONS

Renewal Data Analysis & Calculations

Underwritten Jurisdictions (WA/NT/ACT/TAS)

Maximising opportunity for an optimal renewal outcome by presenting specific client data to the insurance market

    Through our in-depth analysis, we use a large data set of client information to help predict how existing claims costs will develop and how future periods will perform.

    This allows us to have robust discussions with the insurance market when presenting the risk of a client’s insurance program and negotiating renewal rates.

    The data analytics we provide also allows Lockton to use this information to undertake future projections for our clients. This is in respect to Claim Experience Discounts (CED’s) and Burning Cost adjustments (Burners).

    Our services

    • Creation of triangulations which will provide claims cost development results to help understand the likely long-term performance of the program

    • Identification of claim performance trends

    • Year-on-year comparisons to track current performance

    • Claim Experience Discount projections

    • Burning cost adjustment projections

    Key contacts

    Placeholder image

    David Clonan

    Manager Client Placement Services Workers' Compensation
    david.clonan@lockton.com
    +61 424 174 810

    General Inquiries

    Get in touch

    info.au@lockton.com

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    Our People solutions team bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.

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    Lockton People Solutions FAQs

    Lockton believes every business maximizes their potential when their people maximize theirs. That’s why we help our clients make their business, and their people’s lives, better. We know employers need solutions that help balance attracting and retaining talent, manage costs and promote employee well-being. Lockton helps guide clients to people solutions that drive employee understanding, engagement and satisfaction; incorporate competitive total rewards and benefits packages; and manage and measure the effectiveness of your programs.

    We work with every client thinking about how we can best improve your employee experiences to drive engagement, understanding, satisfaction and productivity; design total rewards and benefits that increase perceived value and help attract and retain talent, while controlling costs; and help you make information-based decisions, measure and manage your programs, while driving a competitive business advantage amid an increasingly complex landscape.

    Lockton delivers a full suite of solutions in the following areas: employee experiences and engagement, total rewards and benefits, and management and measurement.

    Lockton is privately owned, which allows teams to prioritize client business. Our Associates are empowered to go above and beyond to help their clients succeed and the entrepreneurial culture at Lockton fosters data-driven solutions, solving problems faster and more efficiently.

    Lockton operates all over the globe through Lockton offices and a network of Lockton Global Partners.

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