Annual Report 2015

2015 marked the beginning of the next 100 years of SAIF serving Oregon employers and their workers. It was also an opportune time for all of us at SAIF to reflect on who we are as a company and what we stand for.

We stand behind our mission to improve Oregon's workers' compensation system by setting the industry standard for affordability, availability, innovation, efficiency, and service quality.

We have a vision to make Oregon the safest and healthiest state in which to work. That vision was embodied in 2015 by the launch of the Total Worker Health® strategy, our support of the Oregon Healthiest State campaign, and the expansion of our safety services team.

And we are the heart behind the seven Core Commitments (below) we make to ourselves, our customers, our partners, and all Oregonians.

What we stand for

Kerry Barnett

Our strategic plan begins with a statement of seven key principles that represent a promise we make to ourselves, our stakeholders, and the people of Oregon.

We call these our Core Commitments:

  • We will shape and build a fair, balanced, and sustainable workers' compensation system.
  • We will maintain long-term financial strength.
  • We will improve the health and safety of Oregonians at the workplace and throughout the community.
  • We will deliver a high-value customer experience that differentiates us in the marketplace.
  • We will innovate to find new and better ways to serve our stakeholders.
  • We are committed to operational excellence.
  • We will build a strong, sustainable, highly productive organization.

Delivering on our Core Commitments is how we define success and pursue our mission.

2015 Highlights

Operational health | In 2015 we began work on several large strategic technology projects: a new document management system, a loss control (safety) solution application, and a new policy and billing system.

Salem campus renovation | We also began a major renovation of our Salem campus to make mechanical, electrical, and plumbing upgrades; keep existing buildings current with codes and standards; and address flood plain issues. Our High Street building will be completely renovated.

Policyholder dividend | More than 47,000 Oregon employers received a dividend ranging from 23 to 27 percent of the premiums they paid in 2014.

Timely payments | Injured workers covered by SAIF received their first wage replacement check before the required date 95 percent of the time.

Retention rate | 99.8 percent of our 2014 customers chose to renew with us in 2015.

Market share | Our share of the Oregon workers' comp market was a healthy 50.1 percent; we covered 51,419 employers around the state last year.

Medical savings | Our medical audit review section analyzed more than 552,000 bills in 2015 and recouped $135.3 million in savings.

Loss costs | We reduced the funds we set aside for claim medical costs by $234 million because our projected average medical cost per claim decreased by 5.3 percent.

Total Worker Health® | In 2015 SAIF become an affiliate in the future of workplace safety: the Total Worker Health® program. Our partners include NASA, the National Safety Council, and several prominent universities.

Return-to-work | Eighty percent of injured workers we covered returned to work within 60 days of their first time-loss (wage replacement) payment. 

Employer-at-Injury Program | EAIP encourages early return to work of injured workers through employer incentives. In 2015 SAIF accessed $11.6 million in EAIP funds for our policyholders.

Other years: