1. Platinum Sponsor
NATIONAL CONFERENCE & EXHIBITION 2014
Silver Sponsor Bronze Sponsor
Risk Manager of the Year
Award Sponsor
Conference and Exhibition Partners

2. Transforming
under performing
workers
compensation
schemes
National Conference & Exhibition 2014
Rob Cordiner
General Manager, Insurance
WorkCoverSA

3. Simple
Easy
I understand
Service
Help
Clarity
Run it like any business
I can perform/achieve
Business plan
ROI
Value
Tax: expensive
Legal process
Government
Regulation
Compulsory
Technical
Long tail
Complex
Hard
Lawyers
Poor Motivation
Doctors
‘Regulatory framework’
Government workers compensation: Makes you think?
National Conference & Exhibition 2014
Actuary
Rehab
provider
Loss
adjustor
Customers
Stake
holders
Suppliers

4. A
Better life
A
Better life A better life
Now

5. Common features of underperforming Government owned schemes
Hindering history
Regulator V Insurer role
Stakeholders V controllers
Complexity
One size/rule fits all
Beliefs V facts
Past failures – stuck in past
Worse future
Trust down – drama up
Spin & defence
Insurer V Social welfare
Limited product knowledge
Supporting future
Infrastructure
Customers ‘ pain
Needing clear direction
Sphere of action - now
Sphere of influence - future
Brightness of future
Separate insurer & regulator
Investment performance
Exec product knowledge
Target execution to results
Wear a bullet proof vest
National Conference & Exhibition 2014

6. Vision
Mission
Specific
targets
Goals
&
Objectives
Monitor
Analyse
trends
Feedback
Action
Ask
Expect
Demand
Provide
right
tools
Train
Support
Accountable
Operational strategy

7. When drama
is up
Trust is
down
If I want things
to change,
Then first I....
Clarity
Leads to
power to
take action
Look for
blame & justification
It might tell you
what you are not
taking responsibility
for
The little things
don’t mean anything
They mean
.....................
High performance
tools need
High performance
management
Cultural improvement
through
Personal leadership

8. Our clear “Asks & Demands”
Small business - Early service
Whole scheme – manage boundaries
National Conference & Exhibition 2014
Expect success
&
Pay for success

9. 9

10. Registered employers
As at 30 June 2014, there were approx. 49,500 registered employers.
< $20k base premium and < $300k
remuneration.
$20K-$500k base premium and >
$300k remuneration.
Copyright WorkCoverSA 2014
> $500k base premium.

11. Break even premium rate
3.34%
2012-13
Copyright WorkCoverSA 2014
2.87%
2013-14

12. Claims liability improvement
$298 million claims liability release.
Best release in more than 14 of the last independent valuations.
Copyright WorkCoverSA 2014
2014

13. People with income maintenance claims
Reduction across the board of people on the scheme at 2, 13, 26 and 52 weeks.
Copyright WorkCoverSA 2014
17% 16%
17% 8%

14. People with income maintenance claims
Workers are returning to work earlier compared to 2012-13 meaning less people are remaining on the scheme
at key milestones.
Copyright WorkCoverSA 2014

15. People entitled to income maintenance
People entitled to income maintenance down 24.3 per cent to last year.
Copyright WorkCoverSA 2014

16. Investment return
$290 million return on investments.
Continues to grow, out performing our 10 year average.
Copyright WorkCoverSA 2014

17. Unfunded liability
$234 million improvement (17%) to our unfunded liability.
Copyright WorkCoverSA 2014

18. Scheme funding ratio
Increased by 7.3% (71%)
Funding ratio back over 70 per cent for the first time in 12 years.
Copyright WorkCoverSA 2014

19. NATIONAL CONFERENCE & EXHIBITION 2014
Thank you.
Platinum Sponsor
Silver Sponsor Bronze Sponsor
Risk Manager of the Year
Award Sponsor
Conference and Exhibition Partners