The COVID-19 pandemic impacted the workers’ comp market especially hard. A surge in unemployment led to a dramatic decline in net premiums written. The market has rebounded but challenges remain. The aging workforce continues to put pressure on employment growth. Workers are entering the gig economy void of workers’ comp benefits. Labor shortages are leading to inexperienced workers being hired. Claims costs are escalating. Meanwhile, organizations face even more pressure to get new products to market quickly, improve processes, and hasten the return on technology investments all while offering personalized service in our new ‘digital first’ environment.
These trends may seem overwhelming. However, insurance providers that choose the right technology partner will be better positioned to adapt and thrive now and during the next big crisis. A modern SaaS technology shrinks the implementation time to launch new products and expand into additional states. It facilitates intuitive workflows, enables remote online access for internal and external stakeholders, and frees up IT resources – all improving your top and bottom line.
In this dynamic, on-demand panel discussion, hear from two insurance companies adjudicating workers’ comp claims in Origami to get their different perspectives around:
- Workers’ comp trends impacting insurers and risk pools, and TPAs
- Best practices on leveraging the digital capabilities of your claims admin system workflows and communications
- Real-life client examples
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