March 20, 2018

WorkCompRecap: Tech Trends!

Today’s issue of WorkCompRecap features the release of a new report from Novarica that examines workers’ compensation carriers’ business and technology issues, provides data about the marketplace, and includes 70 examples of recent technology investments by workers’ comp insurers.

Key findings from the report included that tighter margins mean pricing and loss avoidance/mitigation are critical, as declining rates and increasing severity increase the need for more granular segmentation; investments in claims administration systems offered improved operational effectiveness and quality of claims service. As the future becomes the present, carriers are operationalizing predictive analytics and leveraging drones, sensors, and wearables in order to help avoid or mitigate losses.

Find out more by clicking here!

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