To reflect the changing nature of our schemes, the Actuaries Institute relaunched the former Accident Compensation Seminar as the Injury Schemes Seminar. Held on 10-12 November 2013, the Seminar was well-attended with over 260 delegates.
Since the inception of the Accident Compensation Seminar 25 years ago, the role and purpose of accident compensation schemes has evolved. In keeping with the development of broader injury and disability schemes, the focus shifted from purely compensation, to one that embraced broader health outcomes.
With a number of schemes having undertaken reviews, and generational change underway in some states, the 2013 Injury Schemes Seminar provided the opportunity to reconsider the role and operations of injury support schemes. Building on 25 years of thought-leadership within the industry, this Seminar was a premier event.
The Seminar theme was Balancing Outcomes demonstrating the complexities that injury schemes need to navigate on a daily basis – supporting claimants towards optimal health and wellness outcomes, maximising scheme efficiency to better support the injured, adapting to an investment environment of lower returns and higher uncertainty, and meeting the funding and affordability requirements stakeholders.
Across Australasia, some of our schemes are making step changes in benefit structure, whilst others have been able to continue largely unchanged.
- What are the tipping points for change, and what are the implementation challenges?
- How do we measure the success of the reforms?
- What are the characteristics of the schemes that are able to continue operating year after year with fewer revisions?
- What can we learn from each other as we endeavor to balance the competing needs of our scheme stakeholders?