Category: Risk Pools

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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Helping Your Pool Members Make Sense of Reopening During a Pandemic

As local and state governments begin to ease shelter-in-place restrictions, risk pools are called upon for guidance as their members begin down the rocky path of reopening—so where do they begin?

State and local governments are continuing to relax restrictions and enable their employees to return to work. However, returning to normal operations is far a more complex endeavor than just receiving the green light. According to an Association for Governmental Risk Pools (AGRiP) blog, risk pools will play a key role in advising its members on decisions regarding how and when to reopen in conjunction with government guidance.

Whether looking at your own operations or providing member guidance, there are a number of tactical questions you might consider: What jurisdictional guidance applies to your pool or member entities? How many people can reasonably be in one space at the same time? How can your pool or member entities manage for employees who are sick, have underlying health concerns or have to care for others? Are some operations simply too risky to be resumed? Each tactical recommendation or decision a pool makes comes with strategic-level communications challenges and opportunities.—AGRiP

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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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Part Two: Location-Based Data in Crisis Response

In the second of a two-part series, we dive into what exactly location-based data can unlock, the reality that coronavirus may be here to stay, and what organizations can do if a data-overhaul is not an immediate, or near term, possibility.

Last week, in part one, we examined the critical role that location-based data plays in an organization’s response, planning, and reaction to crisis situations. One of the ramifications of the COVID-19 pandemic being that it is a location-by-location challenge, specific geographical information can be key in navigating the patchwork of the United States’ federal response to the outbreak.

This is the dark side of federalism: it encourages a patchwork response to epidemics. States and localities may decide to implement aggressive disease-mitigation measures, but need not do so. The defining feature of the U.S. response to Covid-19 therefore continues to be localized action against a threat that lost its local character weeks ago.—The New England Journal of Medicine

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Part One: Location-Based Data in Crisis Response

In the first of a two-part series, we examine the critical role that location-based data plays in an organization’s crisis response efforts and how compounding crises lead to an even more immediate need.

While initial outbreaks of COVID-19 hit densely-populated, urban areas of the United States the hardest, the coronavirus is now beginning to surge across less populated parts of America.

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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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Issue Management: What Happens When Everything Starts Going Wrong?

The economy is reopening whether organizations are prepared or not. What does restarting business operations look like in a world reeling from a pandemic outbreak and the problems that come with it?

A staggering 40% of businesses fail to reopen following a disaster and another 25% fail within one year following a disaster, according to a report published by Federal Emergency Management Agency (FEMA). Even organizations that survive disasters can remain fragile, experiencing disruption for years to come. While FEMA’s statistics were built upon “normal” disruptions—hurricanes, tornadoes, floods—we can see how impactful contained disasters are to businesses, leaving the world to wonder what impact the coronavirus outbreak will have on the global economy.

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Why Pools Need Instant Access to Geographical Data Visualization (and Now)

As states across the country begin to ease into reopening amid COVID-19, the challenges of governmental risk pool members continue to surmount—fiscal health is threatened from growing economic uncertainty, entity budgets are being decimated as a result, and more is being asked of organizations with fewer resources at hand.

All of which is only the tip of the iceberg when considering the adverse effects just these few challenges are already having on necessary, government-funded public services like trash collection, fire and police protection, and more.

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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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