Kevin Ring: Mastering Workers' Comp in Business

Kevin Ring is an insightful workers' compensation analyst, and in our conversation, we explored the intricacies and challenges of managing workers' compensation in the entrepreneurial landscape. Kevin, hailing from the Institute of Work Comp Professionals in Asheville, North Carolina, delves into the complexities that business owners face when navigating workers' compensation insurance. One of the key topics we discussed is the common misconception among insurance agents and employers regarding workers' compensation insurance. Kevin emphasizes, "Workers comp just kind of is what it is," highlighting a prevalent attitude that overlooks the potential for cost control in this area. He challenges this notion by demonstrating how proactive measures in a business can significantly reduce workers' compensation premiums. Kevin's approach is analytical, a trait he traces back to his early days tinkering with computers. This analytical mindset, combined with his innate ability to simplify complex topics, makes him a valuable asset in the insurance world. He shares, "I'm not as interested in looking at the surface level. I really want to get down in the weeds of the problem and start to sort it out." This perspective is crucial in understanding the layers of workers' compensation and its impact on business operations. The conversation also sheds light on the importance of correct payroll classification and record-keeping for calculating premiums accurately. Kevin explains, "There are more than 500 different classifications in almost every state," illustrating the level of detail necessary for accurate insurance assessments. Moreover, Kevin's passion for baseball and analytics surfaces as a metaphor for his work. The precision and data-driven nature of baseball analytics reflect his methodical approach to workers' compensation and its complexities. In summary, this episode offers valuable insights into workers' compensation, emphasizing the control business owners can exert over their insurance costs. Kevin Ring's expertise not only illuminates the often-overlooked aspects of workers' comp but also provides practical advice for entrepreneurs aiming to manage their insurance more effectively. His unique blend of analytical skills and clear communication makes this a must-listen for anyone navigating the entrepreneurial world.