Category: Carriers

How to Mitigate the Complexity of State Form Compliance

Workers’ compensation claims compliance can be incredibly complex on a state-by-state basis. With variation across 50 jurisdictions, how can organizations mitigate the complexity of state forms?

Between keeping up with ever-changing laws to ensuring that internal reporting requirements are adhered to, carriers, TPAs, and self-insureds have a lot of things on their plates. If not given the proper attention, workers’ compensation state form requirements can quickly take up a huge amount of time and possibly become a liability.

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Making “Remote” Risk and Insurance Technology Implementations Work

Over recent months, as a result of the COVID-19 pandemic, an estimated 50% of U.S.-based workers have been participants in a grand remote-work experiment. As Katherine Guyot and Isabel V. Sawhill point out in an article published by Brookings, Telecommuting will likely continue long after the pandemic, while the rapid switch to remote work has been driven by necessity, “COVID-19 may permanently change the way many of us work.”

Understandably, one of the most common questions we at Origami Risk have been answering during this period is related to what this change has meant—and what it might mean—for a complex, weeks-long project such as the implementation of a Risk Management Information System (RMIS), GRC technology, or insurance core system.

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Is Your Claims Administration Software Ready?

A look at how the COVID-19 pandemic may impact workers’ compensation claims administration.

There is no shortage of questions when it comes to the effects of the COVID-19 pandemic on workers’ compensation claims, for instance:

  • How will workers’ comp regulations evolve on a state-by-state basis as researchers and medical professionals continue to learn more about the virus’s behavior and options for treatment?
  • What will the economic downtown mean for the volume of COVID-19-related workers’ comp claims?
  • How will courts rule when it comes to claims compensability?
  • How can businesses and other organizations that administer claims reduce potential claims losses, especially as states begin to reopen?

The impact of the COVID-19 pandemic on workers’ compensation claims administration will, of course, be determined by the answers to these questions and others like them. As states and businesses begin to open up, what is clear is that we’re only at the beginning of what will be a lengthy process of ongoing developments that will require insurers and organizations that administer claims to be prepared to adapt.

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Using Digital Technology to Drive Stakeholder Satisfaction

In May 2020, Origami hosted a number of virtual RIMS webinars in-place of the RIMS 2020 Annual Conference, which was cancelled due to coronavirus. One of the five sessions Origami offered, “Driving Customer Satisfaction with Digital Engagement,” was led by Tim Cuckow, Senior Sales Executive, John Carolan, Senior Sales Executive, and David Duden, Strategic Relationships Executive. The presentation highlighted how stakeholders across the insurance value chain (i.e., insurers, pools, and TPAs) can leverage new digital engagement tools and predictive analytics to make underwriting and claims administration more efficient, differentiate their offerings, and drive agent and policyholder satisfaction.

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Selecting a Core Platform that Fits Your Digital Technology Strategy

Modern digital administration platforms stand to vastly improve the productivity and capabilities of insurers, their staff, their digital infrastructure, and the organization as a whole. According to McKinsey, “standard [software] systems are typically much more streamlined and include ready-made functionality for pricing, underwriting, customer self-service and automation, and claims processing. As a result, they can improve efficiency across the enterprise.”

In fact, insurers that develop and execute a digital strategy stand to gain substantial value over their competitors. Though, if this is the case, why are small insurers across the industry still running their business on legacy software, allocating limited resources to maintaining outdated systems, and making incremental changes that fail to plan for the long-term?

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Transforming Your Workers’ Compensation Claims Organization with Digital Engagement

In March 2020, Origami hosted a webinar “Transforming Your Workers’ Compensation Claims Organization with Digital Engagement.” Led by Scott Plummer, Head of Strategy, Core Solutions, and Chris Bennett, President, Core Solutions, the presentation highlighted how claims departments can leverage new digital pathways to drive customer engagement.

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Workers’ Compensation Claims and the Remote Workforce

Until a few weeks ago, the percentage of U.S. workers who performed their jobs from home had steadily risen, year after year, for more than a decade. Then, suddenly, the efforts to contain the spread and impact of the COVID-19 virus led many employers, in industries where it is possible to do so, to require that their employees work from home. It may be some time before precise numbers are available for just how many Americans worked from home during stay-at-home/shelter-in-place orders. However, in How Many Jobs Can be Done at Home? a National Bureau Of Economic Research working paper published on April 6th, Jonathan Dingel and Brent Neiman present findings that show “37 percent of U.S. jobs can plausibly be performed at home.”

“The coronavirus outbreak has triggered an anxious trial run for remote work at a grand scale,” writes Derek Thompson in The Atlantic. “What we learn in the next few months could help shape a future of work that might have been inevitable, with or without a once-in-a-century public-health crisis.”

That future would most certainly have a bearing on the unique workers’ compensation-related issues related to a remote, at-home workforce. Insureds and the organizations that handle Workers’ Compensation claims will need to be ready. read more

How Companies Can Support Their Employees (and Clients) During COVID-19

Globally, we are seeing companies being pushed into having a remote workforce, whether they are ready for it or not, especially as more US states and countries issue shelter-in-place orders to slow the spread of COVID-19. While shifting to a remote workforce may seem like an impossible feat, there are steps you can begin taking now to help your employees transition, and by extension, improve the experience of your clients. Since our inception, Origami Risk has valued its remote capabilities and the talented team we’ve been able to curate because of it.

Whether you are a work-from-home veteran or not, we’re all facing unique challenges in this new environment—from learning to work alongside your spouse and kids, to dealing with the challenges of conferencing technology—there is always a learning curve when transitioning from office to home. As a company of “remote work gurus,” we’d like to help make that learning curve a little shorter by sharing what helps Origami’s dispersed team efficiently work from home, all while servicing clients without interruption.

Have Readily Available Resources and Training

Some employees have fully equipped home offices, while others may have difficulty adjusting to their new work environment for a number of reasons. From a lack of technological savvy, difficulty working without a second monitor, or simply the social adjustment that comes with telecommuting, there are a number of obstacles that can work against an organization that’s suddenly forced to shift to a fully-remote workforce. First and foremost, it’s important to check in with employees to make sure they’re equipped with the tools and resources needed to effectively work and service their clients.

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How Claims Operational Efficiency Impacts Employee Satisfaction

What are the true costs of the repetitive, simple administrative tasks claims adjusters perform throughout the course of the workday? Inefficiencies stemming from manual procedures and repetitive tasks can directly impact the bottom line of claims organizations. Added to this are hidden costs that organizations may be less likely to account for: the impact those types of procedures and tasks can have on employee engagement and job satisfaction levels.

The Hidden Costs of Repetitive Tasks

As shown in a study published by the Society for Human Resource Management, when employees are required to perform repetitive tasks, they quickly lose interest and a sense of purpose. These employees are both less satisfied and less engaged. With reduced rates of job satisfaction comes the increased likelihood of turnover and the costs associated with hiring and training new adjusters.

There are also missed opportunities associated with high levels of engagement and wellness. Laid out in the Forbes article, 10 Timely Statistics About The Connection Between Employee Engagement And Wellness, these benefits can include reduced employee burnout, more empowered employees, and increased rates of profitability.

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Three trends from the 2020 Origami Risk User Conference

Origami Risk users gathered in San Antonio from January 12-16 for our 2020 User Conference. The fifth such event hosted by Origami, this iteration of the conference was the largest to date, with more than 500 people representing organizations from across the risk and insurance industry in attendance.

Collaborative, hands-on learning opportunities led by members of the Origami service team ranged from “boot camps”—introductions to the system for newer users—to instruction on setting up dashboards and reports to more advanced topics such as system administration. Attendees also had the opportunity to meet with an Origami expert for one-on-one sessions for a closer look at specific features or areas of the system they wanted to know more about.

Client co-presenters led sessions covering a wide range of topics including GRC, underwriting, safety, audits, and claims administration, to name just a few. As in previous years, the delivery of actual use cases and the opportunity for those attending sessions to ask questions about the ways in which Origami Risk is being used to address “real world” challenges provided a unique opportunity for peer-to-peer learning. read more