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Regarding analytics and reporting, what should you expect from your claims-administration system?

Are your claims adjusters overwhelmed with current data yet unable to see any trends or analytics for current claims? Does your infrastructure allow for consumption of large amounts of historical data to be used to provide key insights into claim activities, safety initiatives, and risk programs?

Claim adjusters need to handle large caseloads and contend with numerous issues each day. Without the proper tools, seemingly routine claims can cause major headaches for adjusters and impact an organization’s bottom line. Taking a proactive approach through analytics and reporting tools, organizations can better manage resources, claims, and vendors. 

Topics: claims administration software Claims Administration 2018.10 redesign

Claims administration system delivery and deployment: Know your hosting options

Today’s software environment leans heavily toward cloud-based, vendor-hosted applications. However, providers that offer only that kind of solution limit both the flexibility and options available to their clients. 

Internet-based applications that can be either vendor- or client-hosted provide the most flexibility and deliver a claims solution that meets the needs of clients. That’s because while some organizations have decided they can generate better returns by focusing on their core competency—claims handling—other organizations still have valid reasons for wanting to keep their system behind their own firewalls. 

Topics: claims administration software Claims Administration 2018.10 redesign

Accommodating the priorities of today’s claim organizations

Claim organizations face a significant task in today’s environment. The escalating cost of claims continues to be a major concern. From timely incident reporting to claim accuracy, excessive administrative costs, and more, organizations need to adopt strategies to reduce costs and build an efficient and sustainable claim system. 

Topics: claims administration software Claims Administration 2018.10 redesign

Driving Claims Efficiency with Automation

In a traditionally labor-intensive operation, technology has enabled claims organizations to achieve a higher level of output with less manual interaction throughout the life of a claim. Claims operations should expect a high level of automation from any claims-administration system they consider.

Topics: Claims Administration

Ventiv's new ebook helps you evaluate claims technology against your organization's needs

It isn’t easy to keep up with all the ways technology is transforming how we live and work. Even in the B2B world of claims administration, the capabilities in claims systems are moving forward at a dizzying pace. At the same time, it can be challenging to evaluate all the claims systems out there, which is why we’ve taken a different approach with our new guide to evaluating claims technology. 

The Essential Guide to Claims Technology in a Changing Environment looks at claims technology from a unique perspective: How—specifically and in detail—you should expect technology to help your organization meet its toughest challenges and capitalize on its most promising opportunities. We framed this guide to claims-administration systems in the context of what today’s technology should do for organizations navigating shifting, often challenging business and regulatory environments.

Topics: Claims Administration

How risk, claims and safety software could have saved Jurassic Park

In honor of the 24th anniversary of the movie Jurassic Park’s release in June of 1993, this is a great time to engage in a little “what if” thinking and imagine how risk, safety and claims software solutions could have saved John Hammonds’ incredible vision.

Topics: risk management enterprise risk management Safety Management & Risk Control Claims Administration

What trends will disrupt claims management in the next 5 years?

‘It’s essential to stay ahead of the pack. The industry is changing, and new technology is changing our lives every day. The company that doesn’t pay attention to that or at least stay abreast of what’s happening is going to be left behind.’

Topics: Claims Administration

How to successfully manage your team through stressful times

The recent wild weather showcased how unpredictable and powerful Mother Nature can be.

Topics: Claims Administration

5 ways you can improve your workflow through claims management best practices

Wouldn’t it be great to have more time in the day to get through a burgeoning workload and tick off all the items on the to-do list? Given that all of us in claims management are constantly being asked to take on more, being gifted extra time might be up there on the wish list, along with wealth, health and excellent hair.

Topics: Claims Administration

Attacking the runaway inflation in your workers’ compensation claim expense

In a recent article in Business Insurance “Workers comp cycle poised to tighten for insurers, buyers”, a number of sources are quoted supporting the proposition that Workers’ Compensation (WC) rates will rise in the coming renewal cycle. With the line boasting a 95% combined ratio in 2015, the market expects that ratio to leap to as high as 105% when 2016 results are assessed. What is going on here?

Topics: Analytics, Reporting & Data Visualization Claims Administration