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With the rapidly changing current events, it can be difficult to stay up to date on the various aspects of workers’ compensation insurance industry. Among other things, technology plays a role in the work comp industry. Technology is ever-changing, and with the intersection of the COVID-19 pandemic, that is truer today than ever before. Employees
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Achieving and maintaining profitability is generally a top priority for any for-profit business or organization. For insurance companies administering workers’ compensation and automobile no-fault benefits, profitability is but one of many priorities they must balance. As anyone in this industry can attest to, the cost of administering these claims can rise rather significantly. Improving profitability
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Any insurance company administering workers’ compensation or automobile no-fault claims knows the sheer amount of data available within their claims department. It can seem that there are endless data points to track and analyze sometimes. Therefore, it’s important that your company not only recognize the existence of this useful data but also understand why data
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Worker’s compensation claims and automobile no-fault claims carry inherent complexities with them. It is important that your company not lose sight of the claimant’s satisfaction levels throughout the claims process since that can make all the difference in your retention rates. When claimants are satisfied with the way their claim was handled, it impacts your
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In today’s technology-filled world, there seems to be no shortage of data, reporting or analytical information to review. The data continues to increase throughout most industries, and the insurance world is no exception. This can be a highly beneficial thing for insurance companies, but it can be detrimental if data is not utilized properly. Northwood
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