Cambridge, Australia, Outsourcing, Compensation
Cambridge Australia to continue administering workers compensation claims for the State of Victoria
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Cambridge Integrated Services Victoria Pty Limited (Cambridge Australia) announced that the State of Victoria WorkCover Authority has renewed its agreement for four years to process workers compensation claims, effective until June 30, 2010. The contract's estimated value is AUD $88 million, and gives Cambridge 15% percent market share of the Victoria WorkCover's workers compensation portfolio.
Originally appointed and selected in 2002, Cambridge Victoria's primary focus since July 2002 has been to ensure a successful delivery and implementation of a workers compensation and claims management system to the Victoria WorkCover Authority. In just over three years Cambridge has achieved significant reductions in their key continuance rate measures and projected claim costs while managing approximately 30,000 policies for the Victoria WorkCover Authority.
To accommodate this major growth and expansion, Cambridge recently announced the dedication of a new facility in Melbourne, Australia. The state-of-the-art facility spread across 3,000 square meters will support 200 employees.
In addition to this Victoria WorkCover Authority contract, Cambridge was recently awarded a three-year contract valued at AUD $50.3 million by the New South Wales (NSW) WorkCover Authority to process their workers compensation claims. Effective on January 1, 2006, the contract will give Cambridge an eight percent market share of the NSW WorkCover's workers compensation portfolio.
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