Supermarkets are often hard to insure. There are at least three reasons for that: First, the number of coverages they need can be daunting. Second, the number of employees (workers compensation) and customers (general liability) that have to be covered can be even more daunting. Third and most important, the sheer number of claims they may incur and have to manage can be downright terrifying. If you think that sounds odd, consider just these four sources of claims:
- Slips and falls. Whether those slips and falls occur inside the store from spills and wet spots — or outside the store from ice, snow, and cracks or other defects in walking surfaces — the supermarket could have to manage claims for injuries to knees, ankles, hips, elbows, or skulls.
- Injuries to employees from loading, unloading, and other lifting tasks. Those kinds of tasks can lead to back strains, other muscle strains, tendon and ligament injuries, and more.
- Injuries to employees from cleaning and other equipment. Floor polishing machines and industrial vacuums can cause scrapes, lacerations, muscle strains, and other injuries.
- Spoilage from power outages or other reasons. Storms and aging power grids can cause power failures resulting in the loss of perishable inventory.
In any of those situations, the attendant claims have to be managed and adjudicated.
Connecting the Dots
To manage all those (types of) claims, you can record, manage, and adjudicate each claim separately. If you do, you’ll learn what your loss costs are, but you won’t be able to connect many dots.
Alternatively, if you adopt a flexible platform that constitutes one source for all of your claims information and gives you a disciplined process and workflow, you’ll be able to:
- Track all your loss costs
- Identify the trends suggested by types of incidents, their locations, their causes, and their related claims
- Determine ways to anticipate and, therefore, to mitigate such incidents in the future
- Better manage your overall risks, regardless of their types or their corresponding incidents and claims
- Lower your overall loss costs and, thereby, lower your liability, property, and workers compensation insurance premiums.
We don’t want to tell you what to do. But if it were our supermarket, we know what we’d do. And remember: You can’t manage what you don’t track.
Oh … uh … you missed a spot on aisle five.