Our Blog Readers Questions on J&L Risk Management Consultants Inc
The Blog Readers question about J&L Risk Management Consultants Inc.’s history. Can you give me a quick history of J&L Risk Management Consultants Inc.?
Without sounding like an ad, I started J&L Insurance Consultants, Inc. in 1996. I was originally helping the spinning mills in North Carolina straighten up their Workers Comp claims filings and helping them with their E-Mods. Some of them were disastrous with E-Mods over 2.0. Due to NAFTA and GATT, the spinning mills closed very quickly.
I started noticing that the Workers Comp policies were written incorrectly and had many mistakes in parts of them. I had a heavy statistical background and decided to address and try to correct mistakes in the premium calculations and the reserving of files. What I wanted to offer was an analysis that started at the premiums paid and worked back towards the reserves that caused the E-Mods to change.
As far as I know, we are the only company that offers this service that is not involved with making an agent’s commission. Some companies are great at analyzing one piece of the process, but we are the only ones that have intuitive software for premium calculations and reserving.
Being a former Systems Engineer for a major computer company, I was able to construct software that would enable employers to analyze and cut their Workers Comp Costs. We have found it to be invaluable in helping employers cut their comp costs over time. We will alter the software to better fit our customer’s needs in the future.
We will add more services as needed by employers, insurance carriers, agents, and other companies in our customer base. Thanks for reading this article.