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Insurance Software for Workers’ Compensation

 

Companies within the United States offer insurance for their employees. There are companies that are more likely to offer higher premium insurances due to the high-risk factor of the jobs. These jobs that dispose of premium insurances tend to be blue-collar jobs, which in nature are more risky jobs than usual white-collar jobs. It is only natural that businesses with higher risk factors have to pay close attention to the insurance plan they choose for their employees, and at the same time insurers have to be careful when insuring these types of businesses. Higher risk factors businesses will have to allocate a significant amount of their revenue towards the insurance of their employees.

Gathering data and its application can be a staggering task to do. JDI has created a system called Claims Manager ® that is designed to improve and ease the process of gathering information in regards to the insurance process and application. Processing claims can be tedious and monotonous, but by using JDI’s Claims Manager ® the whole process becomes faster, smoother, and more accurate. The system reduces the risk of errors and the data accumulated can be utilized to create comprehensive quality reports.

Claims Manager

One advantage of having and using insurance software is making it easier to pinpoint accident claims. The whole reason why we get insurance is to be secure in case of huge damage. Accident claims bring a multitude of events that requires a ton of paperwork. There are many cases to consider when it comes to accident reporting, such as the individuals involved in the accident, the damages that the accident brought, the coverage that the insurance can provide, and the insurance company involved. Meanwhile, this sounds like a daunting task to do, some people still do this as a career, and Claims Manager ® is here to make their lives easier and error-free. Claims Manager ® can maintain records for years, it allows organizations to make informed projections using complied data and provide a competitive advantage when it comes to future decision making.

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Another pro reason to have insurance software is to detect and prevent fraudulent claims. Fraudulent claims are pretty hard to detect and they cost insurance companies billions of dollars every year. Using data analytics found within the system, companies can predict and recognize scams and establish measures while putting policies in place to deter scammers. Claims Manager ® has also allowed for the insured to quickly and easily report any accident by entering the details upon the incident, the data is then organized and turned into useful information for the business. Upon processing reports the system automatically analyzes the data. The software maintains databases of previously reported accidents and filed claims. The system stores data records for years, which allows access to comprehensive reports and the ability to predict trends. It’s easy to compare reports of repetitive claims being given that all of the data is in one system. Assessment and comparison of data from any period can be made, allowing for better decision-making and organization of activities.

JDI Data will not only make insurance claims an easier process but will also save revenue and assist in future decisions and expectations for your firm. Contact JDI to learn more about the benefits of insurance software for workers’ compensation.