💡: In this article, we will discuss the TCOR (Total Cost of Risk) tool that is available in Aclaimant as an add-on feature. The Aclaimant Total Cost of Risk (TCOR) tool is a powerful, standalone tool designed to help you calculate, track, and report the full financial impact of risk across your organization. It moves you beyond tracking claims and premiums to a comprehensive, auditable view of every risk-related expense—from safety initiatives to lost productivity.
What is Total Cost of Risk (TCOR)?
TCOR is the industry's gold standard for understanding your true risk spend. It is the sum of all direct and indirect costs related to risk management.
| Direct Costs | Indirect Costs |
| Insurance Premiums (Workers Compensation, General Liability, Auto, etc.) | Lost Productivity/Time |
| Claims Administration/TPA Fees | Legal Fees (Non-Insurance) |
| Retained Loss/Deductibles Paid | Regulatory Fines/Penalties |
| Risk Control Expenses (Training, Equipment) | Uninsured Losses (Below Deductible) |
| Broker & Captive Management Fees | Risk Management Department Costs (Salaries, Tech) |
By centralizing these costs, you can make informed decisions, optimize your risk spend, and clearly demonstrate the value of your safety and risk management programs to your executive team.
Creating and Managing a TCOR Period
Once enabled, you can start tracking your costs for a specific time window, which we call a "TCOR Period."
Step 1: Create a New TCOR Period
- Click on the Tools tab in the main navigation bar.
- Click on “create the first TCOR period” to begin your first entry.
Step 2: Define the Period Details
Fill out the initial details for your TCOR tracking period.
| Field Name in Aclaimant | Description |
| Title | A brief name (e.g., FY2025 Total Cost of Risk) |
| Start Date | The first day you want to include costs from (e.g., January 1st of Fiscal Year start). |
| End Date | The last day you want to include costs from (e.g., December 31st or Fiscal Year end). |
| Status | Select Draft (editable) or Final (locked for reporting/auditing purposes). |
| Revenue | The organization's total revenue for this period. Used to benchmark TCOR as a percentage of revenue. If unknown, enter $0.00. |
Step 3: Add Your Cost Line Items
Once the period is created, you can begin adding all your risk-related expenses.
- Click the New Cost button to create a new line item in the table.
- A pop-up window will appear where you enter the cost details. Once you are done entering the cost details, select Save and close.
| Field Name in Aclaimant | Recommended Entry |
| Cost Name | A descriptive name for the expense (e.g., 2024 WC Premium, Safety Training Supplies). |
| Category | The main cost group (e.g., Insurance Premiums, Risk Control Expenses, Productivity Losses). |
| Sub Category | A more detailed breakdown (e.g., Workers’ Compensation, Safety Training, Lost Time Injuries). |
| Raw Amount | The actual dollar value of the cost. |
| Modeling Adjustment Percentage | (Optional) Used for "what if" scenario planning. Enter a percentage to see the effect of raising or lowering this cost. 100% is no change. 110% = 10% increase. 80% = 20% reduction. |
Step 4: Review and Finalize the TCOR Dashboard
As you enter data, the TCOR dashboard updates in real time, showing the summary of your costs, breakdowns by category, and TCOR as a percentage of revenue.
- To prevent others from making changes while you work, click the Lock button. You can Unlock it later if the status is still set to Draft.
- Once all data is finalized and you are ready for historical reporting, change the Status (from Step 2) to Final.
Step 5: Duplicate Process (Optional)
You can quickly duplicate an existing Total Cost of Risk (TCOR) Period if you need to create a new period with similar configuration details.
1. After you have entered and saved the data for a TCOR period, you can find the duplication option in the top right corner of the screen.
Select the Duplicate Icon (which looks like two overlapping squares).
2. A pop-up window will appear, containing the details from the original TCOR Period. This allows you to make quick adjustments before creating the copy.
Review all the pre-populated data in the details box. Be sure to update key fields for the new TCOR period.
Once you've confirmed the details, select the Copy TCOR Period button.
Step 6: Export CSV file (Optional)
You have the ability to export the Total Cost of Risk via CSV file if needed.
Once you are ready to export the necessary data, select the Export CSV file button in the upper right corner (situated next to the New cost button) and begin export. This will be downloaded within your browser on your device.
Video Demonstration on TCOR
FAQ's about TCOR
| Question | Answer |
| Q: Is TCOR only for large organizations? | A: No—any organization interested in better budgeting, executive reporting, and risk accountability can use the module. It scales to whatever level of detail you need. |
| Q: Is it hard to get started? | A: Not at all. The initial setup supports simple manual entry or copy-and-paste from existing spreadsheets. Our goal is to make it easy to transition from spreadsheets to a structured, auditable platform. |
| Q: How does this help with insurance renewals? | A: With complete cost transparency and defensible reporting, you have a much stronger negotiating position and a clearer, more factual story to present to underwriters or your board. |
| Q: What is a "Modeling Adjustment %"? | A: This feature lets you model 'what if' scenarios. For example, you can adjust your expected claim losses up 10% (110%) to see the total impact on your TCOR and on your budget. |
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