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Look at it another way: Why an incident-based approach makes sense for claims and risk managers

An incident-based approach to claims and risk management helps self-insured businesses get ahead and stay ahead by tracking incidents from the start and capturing critical data that may be lost in traditional systems. These insights can help prevent future losses and create a safer work environment for everyone. The problem with traditional claims-focused systems Traditional […]

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Don’t panic: How to mitigate risk when (or before) you lose a claims manager

When a key employee retires or leaves, the natural reaction is to brace for impact. But panic doesn’t usually solve much, and in fact, these transitions can be perfect opportunities to modernize, simplify, and future-proof your operations: Assess the processes heavily reliant on the departing employee’s knowledge, identify areas for automation or system upgrades, and […]

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Simplified claims management from startup to scale

Case study: Inspector Claim Management (ICM) Overview Founded in 2019 by Michael Lang and Joseph Denneler, Esq., Inspector Claim Management (ICM) specializes in providing claims- and risk-management services to home inspectors and other real-estate professionals. With a focus on helping their clients navigate insurance challenges and mitigate risks, ICM quickly established itself as a leader […]

5 Ways to Optimize Claims Processing

Claims processing involves a series of steps and coordination between multiple parties from the first notice of loss (FNOL) to claim closure. Many challenges can arise throughout this process that can impact decision-making and cause delays. For example, a lack of access to real-time data can lead to an inaccurate incident report, which can delay […]

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What You Need to Know About MMSEA’s Civil Monetary Penalties for Section 111 Reporting

On October 11, 2023, the Centers for Medicare and Medicaid Services (CMS) published the long-awaited final rule stating how and when the agency will impose penalties when responsible reporting entities (RREs) fail to comply with Section 111 of the Medicare, Medicaid, and SCHIP Extension Act (MMSEA). The final rule will be applicable on October 11, 2024, and the earliest CMS will […]

10 Factors to Consider When Investing in an RMIS

Has your organization recognized a need to shift from manual processes? Are you interested in streamlining incident reporting, risk management and claims processing? You may be considering investing in a risk management information system (RMIS). An RMIS consolidates all data related to claims, incidents and insurance policies and stores it in a centralized location. It […]

How Cloud Technology Is Transforming Claims Processing

Cloud computing refers to services delivered via the internet rather than on-site hardware or software. The concept of being able to access programs and data from anywhere, traces back to the 1960s, though the term “cloud computing” was not coined until 1997. Today, cloud computing is a tool commonly used by businesses — including organizations that […]

6 Key Performance Indicators in the Claims Process

Key performance indicators (KPIs) are metrics used to evaluate and benchmark performance. Their purpose is to help businesses measure and monitor progress toward set goals. If a company looks at its KPIs and discovers it is not on track to reach a specific target, it can then identify and address inefficiencies. In the claims management […]

Signs That It’s Time to Switch RMIS Providers

Your organization’s risk management information system (RMIS) collects and stores incident data, enabling efficient root cause analysis. It allows your company to make quick, informed decisions and take action to prevent future incidents. While a scalable, customizable and intuitive RMIS can help your company manage risk effectively and reduce claim costs, a limited system can lead to […]