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New online Premium Calculation Tool available

Comcare has developed an online Premium Calculation Tool to help premium paying agencies within the Comcare scheme better understand the mechanics of their premium calculation.

The new online Premium Calculation Tool shows how changes in agency claims experience and payroll size, both for a single year and over a sustained period of time, can impact on prescribed amount and bonus/penalty outcomes.

It assists agencies to gain a better understanding of how investment today may impact future premiums through varying agency claims experience and payroll over a forecast period of up to five years.

Launched at the Comcare 2016 National Conference, the new online Premium Calculation Tool provides an interactive functionality that:

  • forecasts estimated premium outcomes for up to five financial years
  • allows you to instantly compare movements in your estimated premium against the overall scheme trend
  • enables you to export results in printable formats for reporting purposes
  • has intuitive ‘tool tips’ to guide you through entering data and explaining the outcomes
  • guides you through a stepped process for each year’s forecast calculations using drop down arrows
  • is accessible from a mobile phone or tablet.

For more information contact the Performance and Pricing team on (02) 8218 3792 or at Premium.Help@comcare.gov.au

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Page last updated: 17 Oct 2016