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Workers' Compensation Insurance

Overview

ProcurementIQ’s Workers' Compensation Insurance Procurement Research Report offers purchasing insight into the Workers' Compensation Insurance market. Our analysis dissects pricing trends and the supply chain, including highlighting key suppliers and their financial benchmarks. The report also provides key pieces of take-away intelligence, such as negotiation question preparation and a buying decision scorecard, which includes factors weighted according to their importance in the decision-making process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard
REPORT SNAPSHOT

Workers' Compensation Insurance - Recent Price Trend

The price of workers’ compensation insurance has been falling at an estimated annualized rate of 0.5% in the three years to 2018. Although demand for insurance has been strong, prices have declined in accordance with the guidelines of the NCCI, which sets insurance rates for more than 40 states. In recent years, the NCCI has recommended that providers reduce rates due to a decline in workplace.

Workers' Compensation Insurance - Total Cost of Ownership

Buyers in the workers’ compensation insurance market typically face limited costs beyond the premium. Consequently, total cost of ownership in this market is low, which benefits buyers by allowing them to better forecast expenditures for insurance coverage.The only significant expenses beyond the premium that buyers face in this market are training costs. When buyers procure workers’ compensation.

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About this Report

This report is intended to assist buyers of workers' compensation insurance, which is a type of insurance that covers workplace injury. Workers’ compensation insurance provides the injured employee with wage replacement and medical benefits. In return, the employee relinquishes the right to sue their employer for negligence. Common buying markets for workers’ compensation insurance include mining companies, construction firms, manufacturers and healthcare providers. Buyers can procure workers’ compensation insurance from insurance carriers or state insurance funds. This report does not include disability insurance.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Regulation
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
  Imports
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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