Study shows technology improves Loss Costs

It is widely known that what one measures, tends to improve. Yet, as this study illustrates, most insurers measure metrics that produce limited results. However, simple measurements of return to work data show dramatic results.

The Katie School study identifies common points of pain and the advantages that technology brings to carriers, risk managers and TPAs.

'The findings indicated that risk managers, carriers, and TPAs were most concerned with finding technology solutions to address the following top five problems:

1. Controlling Medical costs
2. Managing Return to work
3. Lack of data standards
4. Reserving
5. Performance Measurement