Workers' compensation


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Workers' compensation insurance is functionally complex; it varies from state to state and from provider to provider. Milliman is familiar with legal and regulatory requirements in the individual states, as well as with industry-specific issues that can affect workers' comp coverage. Using this knowledge, our consultants can help clients develop customized workers’ comp solutions that save both time and money.

Milliman offers the insight and expertise needed to efficiently navigate the unique and ever-changing environment that state, private, and self-insured workers' compensation insurance providers face every day.

Custom workers' comp solutions for all providers

Private workers' compensation services

In addition to specialized actuarial services for workers' compensation, Milliman offers professional consultation in other areas (e.g., claims) to help clients streamline other critical facets of their operation. We offer resources beyond what either in-house actuaries or smaller actuarial firms can typically provide, including pricing and reserving, cash-flow modeling, demographic segmentation, predictive analytics, and pricing analysis for construction wrap-up projects.

Milliman consultants are experts in the workers' compensation rules and regulations of specific states and regions, making them uniquely qualified to handle specific local issues that might arise.

State workers' compensation services

Milliman's services for state funds include reserve and pricing analysis, the development of specific rate structures for insurance plans, and cost-benefit analysis to determine the level at which reinsurance should start. Our expert knowledge of state legal and regulatory requirements allows us to provide solutions that are tailored to each individual state fund.

Self-insured workers' compensation services

Self-insured workers' comp providers will benefit from Milliman's reserve analysis, funding analysis, and our cost-benefit analysis to determine the level at which stop-loss protection should start. For businesses with multiple branches, we can also perform a cost allocation analysis that determines both an overall funding level and the contributions for each individual entity.

Predictive modeling

In the past decade, predictive modeling has become increasingly important as a key decision-support tool in the management of workers’ compensation claim costs.

A comprehensive approach that brings together actuarial, clinical, and claims expertise is the key to deriving the most value out of predictive models, and to lowering medical costs.

Learn about the Milliman approach to workers' compensation claims predictive modeling