Depending on a PEO’s need and sophistication of the Workers’ Compensation program, Praxiom provides ongoing reports customized to monitor key areas of risk. The reports are designed to be high level snapshots while also providing specific detail that operations managers can use in making tactical decisions.
Monthly Profitability Report—Month by month and YTD report showing paid premium vs paid losses. Report can be customized to PEO preferences, and over time will included Year over Year analysis.
Operations “Dashboard” Report—High level snapshot of the most critical areas taken from the Policy Admin, Causation, Client Watch List, and Freq/Severity reports. Report is customized based on PEO preferences.
Policy Administration Report—Detailed list of PEO client policies. Report includes carrier, effective date, client demographics, and can be customized to include loss ratio by policy and client.
Causation Reports—High level loss source analysis which includes top causes of injury for the book and by client.
Client Watch Lists—High level report which identifies the top worst performing clients based on claim frequency, severity, total incurred values.
Frequency/Severity stats—Detailed analysis of claim frequency by client and the whole book of business.
Experience Mod Analysis—Detailed review of the current NCCI WC Experience Modification Rate (EMR). The analysis will report the lowest potential EMR for the PEO, identify the top individual claims and their impact on the EMR and premium, and identify the top PEO clients and their impact on the EMR and premium.
- When errors in the EMR and discovered, and action plan is put in place to correct the EMR and any past policies.
- All premium recovery for correcting EMR errors is passed directly to the PEO
Client Benchmarking – Industry statistical analysis of individual SIC codes to determine frequency rate, loss rate, average cost per claim, and top 5 loss sources. Information is used by the PEO in client selection and target marketing.