Employer Tips for Preventing Workers’ Comp Fraud

midwestern logoWorkers’ Compensation Insurance is a necessary coverage for the majority of employers. Unfortunately, businesses of all types are at risk for experiencing some kind of workers’ compensation schemes. In order to prevent these fraudulent activities from occurring in the first place, employers can practice the following techniques.

  1. Report injuries immediately to insurance provider- According to EHS Today, the primary goal is to make sure the injured worker receives the proper treatment and that the recovery protocols are followed to facilitate a speedy recovery so the injured worker is returned to health and the job as quickly as possible- when this process is followed, the possibility of fraud is less likely.
  2. Provide proper training and supervision- As the manager of the company is often the point of contact for the injured employee, ensure they know how to handle workers’ compensation claims. In addition, managers should accompany the injured worker to their medical appointments whenever possible in order to reduce the chances of fraudulent claims. Next, managers should be encouraged to communicate with the physician and the worker about the status of their recovery. This will prevent the worker from feeling neglected and reduce the chances of a potential lawsuit.
  3. Investigate the accident immediately- While the injury is still new, investigate how and why the accident occurred. This can help to determine where the issue lies and identify how it can be prevented from happening again in the future. Further, the more facts and evidence gathered can prevent a scam from occurring.
  4. Background checks- Past criminal history can indicate a theme for fraud. By performing background checks, employers can understand who exactly they are hiring to protect their business in the long run.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.

At K2 Insurance Services, LLC, we are dedicated to creating a leading underwriting and distribution franchise both in the standard and specialty program insurance markets. K2 was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM.

Using Content Marketing to Grow MGA Business

It should come as no surprise that all functions of business and marketing have moved online. From sales to promotions to research, conducting a business is completely different than it was even a decade ago. However, the good news is this: it is now easier than ever to both attract and retain clients. The internet allows for businesses of all types to interact and engage with prospective customers, and MGAs are no exception to this.

A big component of digital marketing is the content portion- which is used to build relationships, strategize new leads, and engage in practices to promote a business. By implementing a content marketing strategy, an MGA can demonstrate their expertise in their field, provide valuable and educational information, and give prospective clients a reason to consider their products.

An MGA can achieve this by publishing blogs, newsletters, white papers, bulletins, e-books, articles, and more via their website and social media channels. Ensure the material is relevant to the target audience, is consistent and fresh, and portrays the MGA as an expert. Ultimately, this will help to attract future clients and promote a positive brand and reputation for the MGA.

According to State of Inbound, 41 percent of marketers agree that content marketing has an absolute positive return on investment. Not only is outreach maximized by implementing content marketing, but target markets can be reached on a level that was not possible before. Marketing practices have come a long way in the last decade, and content marketing techniques are now vital components to helping an MGA grow their business.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and our partners, please contact us today at (855) 976-8113.