Staffing Agency Insurance
Risk management consulting and insurance for staffing agencies.
Workers Compensation Insurance for Staffing Agencies
Staffing agencies face a challenging set of risks and exposures due to the fluidity of their workforce and lack of supervisory control at client sites where employees are placed. In fact, workers’ compensation and other liability claims are some of the highest costs these firms incur. However, it doesn’t have to be this way.
Odell Studner is a national insurance brokerage that offers comprehensive risk management and affordable insurance solutions for temporary staffing agencies. Using a consultative approach, we provide our clients with the knowledge and resources they need to make informed decisions about commercial insurance policies that align with their business plan—resulting in fewer claims and higher profit margins. We combine our deep industry knowledge with a proactive, performance-based strategy to find workers comp insurance for staffing agencies that maximizes coverage and reduces costs.
For more information, please contact staffinginfo@odellstudner.com.
Services
- Service plan workbook
- Odell Studner specifications
- Loaded rate accrual workbook
- Executive dashboard
- Advanced reporting
- Class coding assistance
- Contract review
- Experience forecast/verification
- Loss pick/cost projection
- Reserve analysis
- Collateral tracking/verification
- Paid loss reconciliation
- Retro adjustment/assessment forecasting
- Program matrix
- Best practice assessment
- Certificate issuance/management training and online system
- Claims review prep document
- M&A due diligence (remote and onsite)
A Team Trained for the Staffing Industry
When you engage the services of our Staffing Practice, you acquire an entire team focused on your business—including a producer, account executive, account manager, assistant account manager, risk management consultant and data analyst. Every client account is overseen by one of our company owners, and every team member is trained in risk management consulting and staffing agency insurance programs.
2022 Workers’ Compensation Insights Report
The data shared in this report empowers staffing firms to develop strategies that improve safety, boost performance, and control operational costs.
2023 Staffing Industry Insights - Download
The data shared in this report empowers staffing firms to develop strategies that improve safety, boost performance, and control operational costs.
Step-by-Step Process
Our streamlined process allows us to set the foundation for successful interaction between you and your dedicated risk management and insurance team at Odell Studner.
STEP 1: Best Practice Assessment & Market Analysis
We kick off your company’s “improvement process” by evaluating where you are today in order to determine effective next steps. Components include:
- Data collection
- Corporate interviews
- Field interviews
- Data analysis and benchmarking
- Loss analysis and program structure feasibility analysis
STEP 2: Findings & Recommendations
Risk Management Program & Business Strategy Alignment
To be successful, a risk management program must complement business strategy. Our objective is to make certain your company is taking the right risks with the right level of exposure. Your organization must share a common language around risk, and your risk profile must align with your share/stakeholder objectives
Resource Identification & Allocation
We help you apply a consistent risk appetite throughout all of your business decisions in a way that maximizes share/stakeholder value.
STEP 3: Long-Term Strategy Development
Our team helps you to build a solid multi-year strategy that is backed by your company culture and that ultimately increases profitability.
STEP 4: Service Plan Creation
The development of a service plan provides both relevance and accountability for all stakeholders involved. We publish agreed upon goals and timelines, define roles and responsibilities, and set metrics against which to measure performance.
STEP 5: Stewardship of Risk Management & Insurance Strategy
With the service plan as a foundation, we set periodic reviews of established performance metrics to ensure consistency in your original risk-return profile as well as to adjust for shifts in business strategy associated with internal and external influences.
For more information, please contact 484.586.3900 | staffinginfo@odellstudner.com
