Finity’s accident compensation and disability specialists are experts in valuing and pricing scheme liabilities. Rather than just giving you the numbers, we consider the environment and your needs to provide you with practical and real world recommendations.
We provide strategic advice, monitoring solutions and data analytics to insurers, schemes, regulators, government departments and government insurers across compulsory third party, workers compensation, lifetime care, medical injury and disability classes.
Finity is the Scheme Actuary to ten government insurers and/or regulators, providing the full suite of actuarial reviews and scheme design as required. We are the provider of choice for medical indemnity insurers and those with asbestos-related disease liabilities.
Meet the teamThe Power of Data Analytics
At Finity, we employ the very best analytic minds.
Our market leading actuarial and analytical consultants can find unique insights that are embedded deep within your scheme to transform your data into actionable business decisions.
We use the power of data analytics to help accident compensation clients:
- Develop claims triage models to stream claims into different risk bands
aligned with available staff - Build individual claim models based on the claimants’ characteristics and history
- Identify claims that are at risk of never returning to work and claims that have a high risk of pursuing common law,for targeted intervention from experienced claims
- Benchmark service provider effectiveness and operational outcomes, to improve the value delivered by providers as well as identify those providers who are best at helping injured workers get back to work faster.
Valuation of liabilities
Look beyond pure analytics to gain a deep understanding of cost drivers and their potential impact on your business. Build models of individual life time care needs.
Pricing, relativities and experience rating
Determine premium rates at both the aggregate level and individual risks. Our pricing specialists offer a full service that meets regulatory requirements and bespoke requests.
Monitoring and claim trends
In depth analysis of claims trends, both for whole-of-scheme and for individual insurers, benchmarking your claims experience.
Scheme design
Working closely with scheme management, regulators and industry bodies to understand the environment, stakeholders, claimant behaviour and costs, we assist in designing, costing and implementing alternative legislative solutions.
Case study / Insurer
The client's challenge
A major government insurer wanted to benchmark their operational expenses against other comparable schemes in Australia and overseas
What Finity did
An expense 'baseline' for the insurer was established after analysing a detailed breakdown of historical and current operating expenses. A similar process was then undertaken for 20 other comparable schemes both locally and globally.
Result
Our study identified where the insurer sat relative to other schemes in terms of operational efficiency. We identified best practice and provided timelines for how quickly the insurer might be expected to move towards these improved outcomes.
Focus on Mental Health
Our extensive research confirms mental health claims are different from other personal injury or illness claims, requiring different approaches to deliver optimal outcomes. We can help you refine your operations and improve outcomes.
Download brochureMental health publications
- Green Paper - Mental Health & Insurance
Co-authored by Finity and the Actuaries Institute - Meaningful assessment of Mental Health
Our 2017 paper on the issue
Latest insights
We move quickly on current issues and their potential impact on schemes, managing insurers and claims agents - view our latest papers, presentations and articles.
Talk to us about personal injury & disability
Workers Compensation
Andrew McInerney
Ph + 61 2 8252 3372
Mobile + 61 415 899 487
andrew.mcinerney@finity.com.au
Medical indemnity, disability and lifetime care
Gillian Harrex
Ph +61 3 8080 0901
Mobile + 61 413 880 733
gillian.harrex@finity.com.au
Government schemes
Geoff Atkins
Ph +61 2 8252 3337
Mobile +61 412 123 684
geoff.atkins@finity.com.au
Asbestos-related disease
David McNab
Ph +61 3 8080 0903
Mobile +61 402 064 630
david.mcnab@finity.com.au
Our Partners
Finity is working on a number of assignments relating to NDIS, including projects where we partner with disability specialists.
Dyson Consulting
Dyson Consulting Group is Australia and New Zealand’s leading specialist consultancy in human services and disability insurance schemes. DCG has a proven track record in delivering high quality, robust, and innovative projects and is highly regarded for its ability to build genuine and productive relationships with stakeholders including government, service providers, individuals and service users.
Maree Dyson
Dr Maree Dyson is a consultant to the disability and disability insurance sectors in Australia and New Zealand; her particular interest is with people with disabilities. Maree completed her doctorate in 2000 and her work on resource modelling has been published internationally. Her work was referenced by the Productivity Commission Enquiry into Disability Care and Support.