Protection for workers: our economy’s greatest assets
As Australians return to the workplace in the wake of the recent pandemic, it will no doubt pose unprecedented risks, considerations and challenges to the workers compensation industry. But at PwC, we believe this gives the industry an opportunity to reconfigure how things can and should be done.
Our industry specialists serve insurers and workplaces across a wide range of professional services. With deep expertise across assurance, legal, risk advisory and consulting, our community of solvers can help you anticipate and respond to the changing needs of the sector as we move forward.
Let PwC’s community of solvers steer you toward a future that is sustainable for you, your community and your stakeholders.
The effects of COVID-19 remain a powerful, fast-moving threat to societal health and wellbeing. In particular, key considerations for the workers compensation industry moving forward include:
Schemes should consider whether ‘special provisions’ need to be put in place. These relate to the worker’s eligibility to receive workers compensation benefits for a claim related to getting COVID-19.
Schemes will need to consider whether mandatory vaccine policies should be included in HR policies/conditions of employment, and if not, how to engage with employees to mitigate their risk of contracting COVID-19 in the workplace.
Looking at presumptive legislation in particular, it will be important for schemes to consider the following:
Recent modelling projects that there will be a significant increase in the number of workers compensation claims into the next phase of the pandemic. Schemes need to consider how their claims systems will cope if this happens.
Remaining resilient and effective beyond the pandemic will present an enormous challenge to workers compensation schemes.
Our workers compensation advisory team offers a comprehensive suite of services that can help your business not only survive, but thrive into the future. At PwC, we can:
Our community of solvers are committed to using our collective expertise to find innovative solutions to these challenges. We can impact lasting, sustainable change for your business through the following:
ssues can arise for employers and workplaces as a result of compliance being treated as a cost, rather than an opportunity to improve competitive advantage and smart risk taking. We have identified 5 Attributes of Highly Effective Approaches to Compliance. It’s compliance, transformed.
We’re focused on digital transformation for enhanced customer experience. For us, it’s about transforming workers compensation processes through streamlining, standardisation and automation.
Having the foresight and confidence to act on emerging risks can be a challenge for those operating in the workers compensation space. Our strategy is to ensure that the identification of risk is an opportunity to prepare, respond and emerge stronger.
We are living through a fundamental transformation in the way we work. PwC can help you to strategise to balance increasing demand in the number of workers compensation claims with developing a workforce that is fit for purpose.
Our focus is on helping workers compensation schemes balance regulatory requirements with the need to transform. We do this by implementing enhanced and effective frameworks to monitor and report on conduct, compliance and controls.
For each problem your business faces, we package together the right mix of PwC lawyers, consultants, commercial advisers, financial advisers, accountants, strategists and engineers to help you build a solution in the most efficient way possible.
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