Insurance Journal's Academy of Insurance

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Is the Work Comp Experience Mod Becoming Obsolete?

Is the Work Comp Experience Mod Becoming Obsolete?

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Quick Overview

Changes in technology and data analytics has significantly impacted how insurance companies underwrite and price workers’ compensation policies.  As a result, the experience modification factor does not have the same level of influence on pricing.

$129.00

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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Frank PennachioFrank Pennachio

Changes in technology and data analytics has significantly impacted how insurance companies underwrite and price workers’ compensation policies.  As a result, the experience modification factor does not have the same level of influence on pricing.  In addition, the experience mod may actually become a barrier to insurance companies to make offers and write the account.

Participants will learn:

  • How the “big data” movement is changing work comp underwriting and pricing
  • How the influence of the experience mod on pricing is eroding and creating agent challenges
  • What is not likely to change and how to prepare for those conversations
  • How to get out in front and prepare your clients and prospects for these changes
  • How to leverage these changes to get in front of your competition and make more sales
$129.00
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