Forecast your premium
Use our Premium Calculation Tool to forecast future premiums based on your agency's current claim experience and payroll.
About the tool
The Premium Calculation Tool is designed to help you understand Comcare’s premium model and how changes in your claim history can affect your premium.
The tool allows you to recreate premium outcomes and alter your agency claims history and payroll. This way you can see how changes can affect prescribed amount and bonus or penalty outcomes. This can be done for a single year and over a period of time.
Help to use the tool
The Premium Calculation Tool user guide (PDF, 122.0 KB) explains how to use the tool, including where to get the latest data on your agency’s claims experience.
Before you begin, you need up-to-date information about your agency’s incurred cost from the Customer Information System (CIS).
Disclaimer
Comcare developed this calculation tool as a guide only. In using this tool, you acknowledge that:
- Comcare does not give any warranties or make any representations in relation to the accuracy, reliability or completeness of the results generated by the calculation tool as it is a simplification of our actual premium model.
- There will be variation between the generated results and actual premium outcomes and in some instances the variation could be significant. This depends on factors including, but not limited to:
- the actual movements in scheme average premium rate
- agency payroll for the premium year
- agency average payroll and incurred cost over the reassessment window. - When making decisions, your agency should rely only on the formal notification of your premium outcomes which we send you annually.
Click 'I accept' to indicate you acknowledge and accept these limitations.
Enter the relevant inputs and assumptions for your agency for each premium year.
After you have entered required information for a premium year, the key premium outcomes for that year will be displayed and the next year will be unlocked and available for you to enter information.
The detailed forecast outcomes for each year can be viewed by selecting the ‘Detailed calculations’ button.
| Did the coverage commence after 1 July 2019? |
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