Monday, May 17th, 2021 — Every year, risk professionals, insurance company claims teams and third-party administrators collectively spend anywhere from several hundred to more than 1,000 hours conducting workers’ compensation claim reviews—unfortunately, too often with suboptimal results.
That led the Aon Risk Solutions claims consulting team to conduct an extensive study of claims reviews to find out what is broken in the process and determine how to fix it.
This included surveys of more than 100 risk management, finance and HR executives and nearly 20 insurance company and TPA claims administrators.
Based on the study’s initial findings, there are 10 best practices to improve the overall claim review process from the planning stage to completion and follow up.
Collectively, they address specific issues that have prevented claim reviews from delivering the desired results.