Leading industry player comes to the Big Apple | Insurance business America
Riding on the success of recent awards, ICW Group has its sights set on a significant new market
Workers comp
From insurance companies
The following article was written in collaboration with ICW Group.
ICW Group has taken an exciting and significant step by expanding to New York as the renowned airline continues to grow from strength to strength.
The group has launched its services in the new market and will begin accepting submissions in July. This development marks a successful year as the company was named a 2024 5-Star Workers’ Compensation Winner by Insurance Business America for the fourth consecutive year.
“Our continued recognition as a 5-Star Workers’ Insurance Carrier is a testament to the trust we have built over decades in our network of independent agent and broker partners and the value of the products we deliver to our customers,” said Paul Zamora (pictured), Chief Underwriting Officer. “We are proud to now offer our workers’ compensation business in New York and provide the region’s agents and businesses with the best possible insurance experience.”
The expansion builds on ICW Group’s 50-year tradition, which is based on the following key pillars:
- financial strength
- valued agent partnerships
- preventive risk management approach
- Proactive, practice-oriented claims management
- free value-added services for policyholders
One hundred percent (100%) of ICW Group’s business comes from its strategic agent and broker partnerships, an arrangement that will continue with the move to New York.
Zamora explained: “We are bringing an established employee compensation product with best-in-class customer-focused services to the region. Our expertise lies in mitigating risk, promoting workplace safety and supporting the long-term success of businesses across the country. We can’t wait to offer our services to New York businesses.”
ICW Group is in a strong performance position, highlighted by some impressive recent metrics including:
- The group’s workers’ compensation insurance reached a milestone of over $1 billion in premiums in 2023.
- On average, hands-on claims management helps close claims 6% faster and reduces industry costs by 20%.
- ICW Group awards twice as many fraud investigation assistance claims as the industry average. Each claim will be reviewed for fraud within 24 hours of the claim being created.
The group’s internal processes are driven by what it calls the “Power of 3” – fewer claims, less costly claims and fewer ex-mods.
While the ICW team’s extensive safety and injury prevention expertise helps customers reduce the frequency of claims, when a claim occurs, the group’s claims management services help it close more quickly. This ultimately has a positive impact on the experience modification factor and leads to long-term premium savings.
Agents working with ICW Group are able to provide value-added services with their clients’ workers’ compensation insurance as each policyholder receives access to benefits such as the comprehensive safety learning management system Safety OnDemand, complimentary human resources consulting with HR OnDemand, and a nurse triage hotline for immediate action when needed an accident at work occurs.
“Continued recognition as a 5-Star Employee Insurance Carrier by agents and brokers is meaningful to us. We are committed to providing our policyholders with above and beyond service and expertise and we are delighted to see our hard work paying off,” Zamora added.
similar posts
Stay up to date with the latest news and events
Join our mailing list, it’s free!
Source link
2024-05-28 15:02:22
www.insurancebusinessmag.com
