How WorkSAFE helped a general labor staffing company save money and work safer
Introduction
A labor staffing platform, specializing in on-demand moving, home services and general labor, wanted to protect their contractors against accidents and injuries. But workers' compensation was not working for their business. Premiums were too high, coverage was too rigid and required too much red tape, and it took too long to generate COIs. GigEasy not only lowered their insurance costs, we helped them create an elastic footprint across state lines and a more efficient COI process.
The problem
Though their priority was to reduce their worker’s compensation cost, we quickly realized there was a greater challenge. They needed comprehensive coverage that would not only lower cost, but also adapt to their fluctuating workforce, allow them
to add new territories quickly, and streamline their Certificates of Insurance (COIs) generation process.
to add new territories quickly, and streamline their Certificates of Insurance (COIs) generation process.
The solution
Enter WorkSAFE from GigEasy, a proprietary insurance solution designed especially for companies in this exact scenario. With a blend of workers’ compensation, occupational accident insurance and contingent liability we were able to help the
platform cover both their salaried and contract workers in a safe, scalable and affordable way.
Key benefits
The implementation of GigEasy's custom insurance solution yielded significant benefits:
Segmented Risk Pool: GigEasy segmented the risk pool between the higher-risk contractors and office-based salaried employees, saving them thousands in premium costs alone.
Occupational Accident Insurance: We then secured Pay-As-You-Go Occupational Accident Insurance for all their contractors, so they could scale up or down easily and control costs based on hours worked.
Contingent Liability Policy: A contingent liability policy was put in place to ensure peace of mind for the company from shi s in classification and compliance regulations across state lines.
Results
The impact was instant and amazing. Within the first 5 months of enacting the
WorkSAFE products, the platform saw:
240% More Workers:
The company saw a huge increasein workers within the first month.
600% More Hours Worked:
Workers were putting in many more hours, which brought in $233,000 more in revenue.
80% Lower Insurance Costs:
The company saved a lot of money on insurance.
“GigEasy's WorkSAFE insurance saves money and keeps everyone protected. Protecting all workers from accidents and injuries isn’t just smart, it’s the right thing to do. GigEasy makes it easy to make the right choice.”
Conclusion
This is just one of many examples of how GigEasy’s smart insurance plans help companies grow and save money. If you’re also trying to balance coverage between your salaried and contract workers, GigEasy can help you too.
