Jersey City, NJ – ISO Claims Partners and ISO Workers’ Compensation (WC) Solutions recently announced that they have joined forces to bring customers improved analytics, integrated data platforms, and a better user experience.
The alliance of ISO Claims Partners and ISO WC Solutions paves the way for streamlined systems and overall improvements. The FROI/SROI data that flows through wcPrism®, for example, can now run through the wcNavigator® severity scoring tool. This will assist customers with proactively identifying high-severity claims and reducing unnecessary claim costs.
Given the strong regulatory climate that surrounds the industry, the additional WC data expertise will help serve clients’ evolving needs. Al Faber, director and division head of ISO Workers’ Compensation Solutions, explains, “We can leverage our collective knowledge of WC data assets to create groundbreaking products that will fight fraud, help better understand risk, and improve individual carrier competitiveness. Most important, we’ll provide tools designed to advance the overall standards of care in support of our injured workers.” He adds, “Data will never replace the need for the human touch, but—if leveraged appropriately and responsibly—data may serve as a guide to backfill some of the institutional knowledge our industry stands to lose over the next five to ten years.”
ISO Workers’ Compensation Solutions offers wcAnalyzer™, wcPrism, and wcCapture™, which address the needs of workers’ compensation insurers, regulators, industrial accident boards, statistical agents, and rating organizations.
The teams are also looking forward to opportunities to combine the industry insights offered by their workers’ compensation products and services, which will provide customers with a more detailed view of claims and key metrics to help improve their claim management processes and help bring together the pieces of the workers’ compensation and Medicare reporting puzzle. In turn, new combinations of industry data insights will offer a more holistic view of the life of a claim—and the macro trends affecting claim outcomes.
Carrie Barr, COO of ISO Claims Partners, sums up the feelings about this change: “We’re thrilled to have WC Solutions join our team. This new alliance will help all of us provide carriers with better technology, better data, and better analytics. By combining ISO Workers’ Compensation Solutions products with our ISO Claims Partners solutions, we can really make a difference!”
Source: ISO Workers’ Compensation Solutions