Insights

The Analytical Perspective

Welcome to the first video issue of The Analytical Perspective

October 2020

Welcome back to the second issue of Oliver Wyman's "Analytical Perspective!" This edition is a digital newsletter featuring a video highlighting the effects of COVID-19 on workers compensation claims. 

Contact Rich Babel at rich.babel@oliverwyman.com to subscribe to The Analytical Perspective or if you need assistance with any analytical needs.

Watch as Ron Fowler, Practice Leader for Oliver Wyman P&C Actuarial interviews Amy Odom, Senior Vice President for Marsh Risk Consulting. Ron and Amy discuss Oliver Wyman's 2020 COVID-19 Impact Study, specifically workers compensation claims.

Some effects we are seeing on workers compensation claims through June 30th 2020:

  • Reported claim counts decreased significantly year over year across all industries, even those including businesses deemed “essential.”
  • Closed claim counts increased year-over-year in the beginning of the COVID period but have decreased year-over-year in the months of April through June
  • The ratio of indemnity claims to total claims increased significantly and this is putting upward pressure on loss costs.

If you would like to be a part of our COVID-19 study, please fill out this form 

Ron Fowler, Practice Leader for Oliver Wyman P&C Actuarial and Amy Odom, Senior Vice President of Marsh Risk Consulting discuss the impact of COVID-19 on workers compensation claims.