Success Stories
Safety Drives Down Workers Compensation Cost

Safety Drives Down Workers Compensation Cost

An engineering supply company has partnered with FEFO Consulting to tailor their existing safety and risk management initiatives, improve safety performance and workers compensation claims performance by 59%.

Challenge

Poor Injury Management and High Workers’ Compensation Costs

A leading Australian engineering supply company was struggling with injury management and workers’ compensation, with claim performance lagging 89% behind industry benchmarks.

While claim costs remained stable, the organisation needed to enhance safety measures and claims management strategies to reduce risks, prevent high-cost claims, and improve financial sustainability.

Solution

Proactive Claims & Safety Management

FEFO Consulting strengthened its workplace safety and injury management through these key strategies:

• Proactive Claims Management: FEFO Consulting deployed outsourced return-to-work (RTW) coordination, ensuring that injured workers could safely and efficiently return to work.

• Enhanced Safety Programs: FEFO tailored existing safety and risk management initiatives aimed at improving safety performance and reduction of incidents.

• Strategic Premium Management: Implemented regular monitoring of claims data and renumeration trends to help manage costs and prevent unnecessary premium increases.

Outcome

Significant Claim Performance Improvement

With FEFO Consulting’s support, the engineering supply company achieved:

• A 59% improvement in claim performance since FY 2022-23, significantly reducing risk.
• Stable claim costs despite significant business growth, demonstrating effective risk management.
• No open premium-impacting claims, highlighting the success of proactive claims management.
• A trajectory to outperform industry benchmarks by FY 2025-26, further strengthening financial stability.