XMod Review & Cost Analysis Report

A lower Workers’ Comp premium and a safer work environment

An experience modification (XMod) is something that directly affects your workers’ compensation premium. As you likely know, the modification number is based upon your loss experience.

  • How many past claims have you had?
  • What was the percentage of claims that went legal?
  • How well did your company handle those claims?
  • It all comes down to how safe your work environment is, and all of that directly affects your cost.

    An XMod review includes a free analysis of your workers’ compensation costs. About 25% of the work we do is in the area of managing the data used to determine premiums, i.e. XMods, payrolls, classifications, etc. This process is especially important since 80% of the time the calculations that determine an employer’s premium are incorrect. About 75% of the work we do regards the claim management.

    Take a look below at the important aspects of this service. You can also view our Actuarial Report Summary. We accomplish all this without altering an employer’s operations in any way.

    Typical results are:

  • Virtual Elimination of the Impact of Unnecessary Claim Reserves on Premiums
  • Virtual Elimination of Fraud
  • 75% Reduction in the Impact Indemnity Costs have on an Employer’s Costs
  • 37% Reduction in the Number of Claims
  • 48% per Claim Impact on Costs
  • You want to pay less, and we want to help. As a client of LCIS, we will review your XMod and make a proposal to lower it.