At the 2017 America’s Claims Event a session discussed how auto carriers can improve efficiency by integrating data and analytics into the life of a claim. The speaker was Frank Cesario, Director of Claims with LexisNexis Risk Solutions. Despite increases in satisfaction scores, claims processing continues to be the lowest performing area in the insurance process. First notice of loss is a key touch-point where millennials rate the process much lower than baby boomers as they have an expectation for quicker results based on their life experiences. Strategy for developing an integrated claims platform: Stability – Cannot disrupt your business
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At the 2017 America’s Claims Event, a session discussed how technology advancements are enhancing customer service and claims handling. The speaker was Jeff Saye, Global Practice Leader for P&C Insurance Claims with Genpact. Claims organizations are challenged with balancing three competing priorities: Loss Accuracy Expense Control Customer Satisfaction Emerging technologies and big data are enabling carriers to do a better job balancing these priorities and which can create competitive advantages. A typical claims process involves multiple touch points and manual interventions between the claim handler and the person filing the claim. With technology you can reduce these touch points, which
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At the 2017 WCIRB Annual Conference, a session discussed the future of work and what his reality vs hype. The speakers were: Ward Brooks, WCIRB Vice President, Research Bill Mudge, WCIRB President and CEO There are a wide variety of views on this issue. Some feel that automation will significantly eliminate jobs in the future, while other feel automation of some jobs will create other job opportunities. The concern of technology having an impact on employment is hardly a new phenomena and traces back to the 1930’s when factory assembly lines were first seen. Can we automate many jobs? Maybe.
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At the 2017 WCIRB Annual Conference a session discussed friction issues in the worker’s compensation system. The speakers were: Saul Allweiss, Attorney, Law Offices of Allweiss and McMurtry Tony Milano, WCIRB Vice President, Actuary Frictional costs in workers’ compensation are significantly higher than other systems. For example, to deliver $1 in benefits it cost: $0.04 for the Red Cross $0.02 for Medicare $0.18 for private health insurance $0.53 for California workers’ compensation Session highlights: Defense and medical-legal costs are over three times higher in California than in median NCCI states. A big part of this is is the driven by
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At the 2017 WCIRB Annual Conference, a session discussed the how changes in medical science are impacting workers compensation. The speakers were: Roman Kownacki, M.D., Chief Medical Director, Occupational Health, Kaiser Permanente Linda Radler, WCIRB Managing Director, Medical Analytics Opioids California is working to develop a prescription drug formulary and the expectation is that will lead to a reduction in opioid use. Other states that have adopted formularies have experienced this impact. Currently the top 1% of physicians in California are prescribing 33% of all opioids in the workers’ compensation system. This means 90 physicians are having this significant impact.
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At the 2017 WCIRB Annual Conference Dave Bellusci, WCIRB Executive Vice President and Chief Actuary, presented an update on the state of California workers’ compensation. The highlights: Premiums in California have doubled from 2009 to 2015. This is a combination of rate increases and payroll increases. Since 2015 the premium growth has moderated due to rates being lower and most of the growth is due to payroll increases. In 2016 California represented 29% of the countrywide workers’ compensation premiums. This is up from 19% in 2009 and driven by strong economic recovery and higher rates in the state. Only 11%
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At the 2017 PRIMA Annual Conference a panel discussed strategies to for addressing cost drivers in your workers’ compensation program. The panel was: Edward Canavan – VP Workers’ Compensation Practice and Compliance, Sedgwick Dawn Watkins – Director Integrated Disability Management, Los Angeles Unified School District Zachary Gifford – Associate Director Systemwide Risk Management, The California State University Question: What are some of the complex issues you are facing in your workers’ compensation program? Answers: Provider fraud has been a huge issue in California with several providers being prosecuted in high-profile cases worth hundreds of millions of dollars. You have to
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At the 2017 PRIMA Annual Conference a panel discussed how an advocacy approach can impact your claim managment program. The panel was: Dawn Watkins – Director Integrated Disability Management, Los Angeles Unified School District Kevin Confetti – Deputy Chief Risk Officer, University of California Teresa Bartlett – SVP Medical Quality, Sedgwick An advocacy based claims program can be especially important to public entity employers due to the fact that they work in a highly political environment and they are managing taxpayer funds. Claim disputes can easily end up with negative press coverage because things that happens with public entity employers
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At the 2017 annual PRIMA conference Ariel Jenkins, CSP, MBA, ARM-E, Safety National and Kevin O’Sadnick, CSP, Safety National lead a conversation on the essential elements of school risk control programs.  School visitor management consists of entrance hardening (add extra set of doors or windows visitors have to check in), criteria for visitors (parents, teacher visitors and grandparents), 100% use of photo ID for staff/visitors, and use of security cameras.  Violent, Combative and Disruptive Students De-escalation/assault cycle training should be able to recognize this behavior and early intervention and keep an event from getting out of hand. There need to
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At the 2017 annual PRIMA conference Robert Bambino, CPCU, ARM, Wright Risk Management Company, Tim Lyons, Munich Re, and Eric Stark, Carmel CSD discuss the new and emerging risks for the public school sector.  This presentation’s focus was to plan for the future. There was a survey conducted and sent to K-12 public school administrators, educational risk sharing pools and self insured districts, PRIMA school members and risk management professionals. Majority of the respondents were in the industry 10 or more years. Top areas that present the greatest degree of risk include cyber risk, social media risk, healthcare costs, special
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