Michael Quinn Kaiser: Consulting Director of Risk Management

Michael Quinn Kaiser: Consulting Director of Risk Management

Michael Quinn Kaiser is a successful risk management consultant in California. Along with providing services through 2MQ Risk Management Consulting, he is the Consulting Director of Risk Management at 24 Hour Fitness in San Ramon, California. Michael Quinn Kaiser leads a team of Risk Management professionals and a third-party insurance broker service team to help the company reduce general ledgers total cost of risk and workers’ compensations claims while integrating quota share insurance property coverage.

Michael Quinn Kaiser: Tackling Innovative and Change in Business

In order for a company to succeed in today’s world, they must constantly thrive to be innovative by making things faster, better, and cheaper than their competition. Michael Quinn Kaiser is a successful risk management consultant in California who strives to continually improve not only himself but the company that he works for. In order for companies to be successful, they need to approach change and innovation proactively and effectively.

To do this, they need to tackle the following:

Creating a Culture of Innovation

Michael Quinn Kaiser- Tackling Innovative and Change in Business

Policies that encourage innovation need to be implemented by the organization. Many companies do little in the way supporting the sharing of ideas with their compensation, focus on productivity, and management structures. Senior management needs to develop policies while empowering their staff to implement them.

Rewarding Change and Innovation

Creating a Culture of Innovation

Staff needs to be provided with incentives to make innovation a priority. There isn’t any good reason for employees to suggest and try new ideas if there is no reward for doing so. The first step in creating an organization where innovation is a priority is by including changes in the goals of the employees, the compensation plan, and performance management process.

Follow Through

Creating a Culture of Innovation

When organizations have identified a new idea, they need to support that idea with a budget, resources, and attention. Many times, employees must try to implement the new idea while still completing their current job responsibilities. It is important for goals to be quantified, by asking if the new program will increase revenue, or reduce expenses and improve employee productivity.

Rewarding Failure

Creating a Culture of Innovation

Not every innovation that is implemented with be successful. Every innovative idea contains many variables, both known and unknown, that could prevent it from becoming successful. Even those ideas that don’t succeed, result in new knowledge being gained, lessons being learned, and limitations being understood. It is important for companies to accept that, although many new ideas may fail, they still need to reward the teams that worked hard to implement the new ideas.

Developing a Playbook

Creating a Culture of Innovation

Once the company has implemented a number of successful innovations and failures, guidelines and processes must be developed. You want to be sure to outline how the procedure works, how to identify and choose opportunities, and how to implement them.

Implementing change and innovation in an organization is important for their success. Michael Quinn Kaiser is a risk management consultant and change agent that is able to accelerate operational improvement and formulate winning strategies for the companies he works with.

Recommended read: Michael Quinn Kaiser: Top Leadership Skills in Business

Michael Quinn Kaiser Works at 2MQ Risk Management Consulting

Michael Quinn Kaiser is an engaging, results-oriented executive leader who has used his knowledge and experience to become a successful risk management consultant. He currently works at 2MQ Risk Management Consulting. The company helps organizations identify inefficiencies in their claims process management processes, reserving protocols, safety practices, actuarial studies, and insurance premium overcharges. Michael Quinn Kaiser has a proven track record of developing high performing departments that have been shown to drastically reduce shrink percentages, total case counts, and EFL reserves.

 

Michael Quinn Kaiser Shared Effective Ways of Reducing Workers’ Compensation Claims

Since 2015, Michael Quinn Kaiser has worked as a Consulting Director of Risk Management for 24 Hour Fitness Inc., which is a health and fitness chain with $2 billion in annual revenue. The company hires 18,000 employees in the United States, and it’s up to Michael Quinn to help the Chief Financial Officer (CFO) in managing various aspects of risk management, including workers’ compensation.

Michael Quinn Kaiser Shared Effective Ways of Reducing Workers’ Compensation Claims

“I reduced workers’ compensation claims tail by 50% and returned $2.5 million in excess reserve holding to profit line while minimizing open claims count by 20%,” he says, in regards to some of the accomplishments he’s achieved at the company.

Workers’ compensation insurance is one of the biggest expenses affecting many businesses. It’s an essential cost that covers any costs related to injuries incurred by employees while working. While this insurance is mandated in many states, there are a few things you can do to keep claims to a minimum:

Prioritize safety

Michael Quinn Kaiser Shared Effective Ways of Reducing Workers’ Compensation Claims

If you haven’t developed and documented a safety control program, it’s time to do so. Improved safety at the workplace leads to fewer claims. The safety program has to be endorsed by senior management to assure its execution, and it should spell out the processes, policies, and rules of safety enforcement. Including a disciplinary aspect to the program ensures that employees are held accountable for breaking the rules or rewards them for following procedures.


Take prompt action

Michael Quinn Kaiser Shared Effective Ways of Reducing Workers’ Compensation Claims

When an employee suffers an injury, it’s important to take immediate action. Start by completing an accident report that includes images of the scene. The insurance should be alerted of the injury within twenty-four hours to ensure the incident is handled immediately.


Beware of fraud

Michael Quinn Kaiser Shared Effective Ways of Reducing Workers’ Compensation Claims

If you suspect a claim is fraudulent, don’t hesitate to raise it with the insurance company. Review your workers’ compensation policy to ensure the accuracy of the allegation. Realize that you sometimes have to investigate when you suspect fraud is involved.


Consider a professional

Michael Quinn Kaiser Shared Effective Ways of Reducing Workers’ Compensation Claims

Since many firms, especially small business, may not have the capacity to hire a full-time human resource professional, they often rely on the advice of consultants on issues such as employment practices and handling injury claims. A good consultant such as Michael Quinn can help provide the assistance such firms need to handle workers’ comp claims efficiently without jeopardizing business operations.

Recommended to read: Michael Quinn Kaiser Shared Best Practices in Risk Management

Michael Quinn Kaiser: The Importance of Mediation

Early in his career, Michael Quinn worked for Kaiser Permanente, a managed care organization that operates in eight states and reports tens of billions of dollars in operating revenues. He worked as a senior manager in risk management, reporting to the Deputy General Counsel. Among his roles, implementing policies and procedures for loss mitigation and handling legal suits.

Michael Quinn Kaiser- The Importance of Mediation

“I managed over 1,000 mediations, arbitrations and lawsuits both directly and with outside counsel in matters of professional liability, property and casualty, general liability, worker’s compensation, and automobile claims,” he said.

Mediation processes in the workplace exist to enable conflict resolution when parties can’t agree on something. It’s a mechanism that, if successfully implemented, can allow each party to conflict to tell their story and allow for a neutral mediator to guide the process to an amicable solution.

Michael Quinn Kaiser- The Importance of Mediation

Engaging in mediation is a more cost-effective solution for parties seeking to reach a settlement. It’s a voluntary process that individuals choose to participate in, and if an agreement is reached, the parties are legally required to abide by the agreement. Regardless of the complexity of the issue, mediation can be a powerful tool that assists parties in resolving the conflict.

Additional reasons why mediation is necessary include:

Cost

A company can choose to bring an external mediator to help in the settlement of disputes, and they may charge a fee similar to what an attorney would. However, the mediation process consumes less time than the case would if taken through legal channels. Because of this, mediation usually ends up being less costly regarding money and time.

Confidentiality

Mediation proceedings are kept confidential, involving only the disputing parties and the mediator. Court hearings, on the other hand, are a matter of public record. The confidentiality in mediation is highly regarded as even a mediator cannot testify in court as to the details of the process, with a few exceptions.

Agreement and compliance

Because the process is entered into voluntarily, the parties are typically ready to work jointly towards an acceptable solution. The fact that the parties are willing to mediate means they are amenable to understanding each other and complying with the negotiated agreement.

Michael Quinn Kaiser has a Juris Doctorate from the JFK School of Law in California.

Michael Quinn Kaiser: Consulting Director

Since 2015, Michael Quinn Kaiser has worked as a Consulting Director of Risk Management for 24 Hour Fitness Inc. in San Ramon, California. The company is a health and fitness chain that has over 400 clubs and 18,000 employees in the United States. Reporting to the Chief Financial Officer, Michael Quinn kaiser leads a team of risk management professionals who comprise general liability claims analysts, safety specialists, and workers’ compensation analysts.

Michael Quinn Kaiser: Tackling the Challenges Leaders Face

Michael Quinn Kaiser is a results-oriented executive leader who’s worked at an executive level for various companies in his career. He’s had success in formulating winning strategies and executing plans to completion, in the process helping organizations achieve their objectives. Like most successful leaders, however, he’s also faced various challenges that have shaped his leadership style and abilities.

Michael Quinn Kaiser: Tackling the Challenges Leaders Face

Leaders are constantly presented with challenges that, for the many, provide an opportunity to rise to the next level, improve on abilities, and demonstrate that it’s possible to accomplish goals that may seem impossible. These challenges can come from three levels: internal, coming from within the leader; external, coming from the environment; and those stemming from the nature of the role.

Internal challenges

While leadership presents the opportunity to demonstrate your abilities, it can also expose your shortcomings. In many cases, leaders have to overcome these weaknesses to inspire confidence. Displaying fear, insecurity, intolerance, lack of trust and impatience can impede your growth as a leader. At the same time, acknowledging these and working towards overcoming them can turn even an average leader into a successful one.

It’s quite difficult at times for people who see themselves as leaders to admit they have personality traits that stand in the way of accomplishing their goals. Part of real leadership is accepting the reality of these weaknesses and working to change them.

External challenges

In an organization, a leader has to grapple with external challenges such as opposition from other members, lack of adequate resources, and less than ideal working conditions, just to mention a few. It’s hard to imagine a leader not facing obvious issues of some sort on a regular basis. To some extent, the measure of a good leader is how they deal with the constant succession of challenges that threaten the accomplishment of goals. If they can find solutions, resolve conflict and take advantage of opportunities, many of these external issues become hardly noticeable.

Issues arising from leadership

Becoming a great leader demands a lot from you. You are responsible for setting the pace, articulating the organization’s mission and vision, and often the representative to the rest of the world. In addition to these (and many other) responsibilities, leaders have to motivate others, themselves and be enthusiastic about their role.

Michael Quinn Kaiser works with 2MQ Risk Management Consulting, which specializes in risk and insurance management needs in corporate and multi-national settings.