Email: support@iegsoftware.com

405-843-8142

Risk Management Features

 

Interchangeable Integrated Yet Separate Modules

Risk Manager C/S contains several distinct modules which can stand alone or integrate with one another. This feature allows companies to mix or match modules to coincide with the exposures they have chosen to self-fund. The modules allow claim handling for several variations of casualty, property and workers’ compensation.

Another program sets atop these modules. This capstone piece collects data specific to various industries. An example could be an insurance company which needs to collect data on policies, their agents and for state regulators. A second example could be a self-insured trucking company which does not need to collect policy data but does need information on drivers, on equipment and for the DOT. A final example could be a TPA or independent adjuster who needs to collect data on client companies or to track time for billing statements.

This multiple module feature is important for the all the target markets. It allows the self-insured employer to combine the various aspects of any occurrence. For instance, if liability and workers’ compensation are involved in an accident, both could be reserved and paid within the same claim giving an accurate picture of what the occurrence actually cost. It will also allow the TPA, the independent adjuster or insurance company to work multiple lines of business.

Any Level of Self Insured Employer

Risk Manager C/S has been designed to consider the reserving needs of all self funded or partially self funded companies. Historical data on reinsurance attachment points or deductible amounts and multiple re-insurers or reinsurance layers are stored with the reserve types. This data allows the company to track the attachment point even if the claim drags on for several years or through subsequent reinsurance agreements which change the participation of the company

This allows any level of administration. If claims are administered from first dollar up to attachment point or administered beyond attachment with expectation of recovery, the system will sort out the differences. At any point in time a listing of all reinsurance recoveries can be easily retrieved.

The system provides a common catastrophe code to link reserves from several claims for reinsurance recovery purposes.

Screen by Screen Security

Risk Manager C/S offers user defined screen by screen security. A centralized control program facilitates any level of access management determines to be necessary for any user. The different levels of security can block a user from seeing a screen, from editing a screen or from deleting data on a screen.

Integrated Activity Scheduler

Risk Manager C/S’s activity scheduler acts as a diary or scheduling tool. An activity can be attached to any section of a claim with a date and time that the activity is to take place. The scheduler remembers where you were when you scheduled the activity and can take you back to the that spot to complete the scheduled activity. An example of this could be a reserve review or to check to see if a certain piece of correspondence had arrived. Activities can be sent to other employees. This allows assignments be made and results to be recorded without a paper or verbal message.

On the fly merge to print forms and letters

A bank of forms and letters can be stored in the system. These documents can be merged with any claimant, employee or other involved party with a simple point and click of a mouse. Each user can define their own set of letters and forms or they can choose one of the group of common forms. These letters can be printed immediately or in batch.

On the fly feeds to bureaus and agencies

If a reporting agency allows electronic transfers of data, this function gives the user to establish a record to be included on the next transfer. An example of this could be indexing a claimant of some piece of stolen property. The preparations for this function are in place. The actual linking to various agencies will have to be done on a custom case by case basis because of the differences in their requirements.

Selectable Interfaces to GL and AP

The user can select the level of automation allowed in transferring reserves and payments to GL and AP. The system will allow printing of checks, printing of check requests or electronic feeds to AP through voucher and distribution record.

The system will also allow the automated transfer of reserves to GL. The control of this function is established in the reserve setup as stated in the ‘Any Level of Self-Insured Employer’ section above.

Multiple Companies

The software allows multiple companies to use the same software. Claim data can be collected and reported on a company by company basis or on an enterprise wide basis. This feature is especially attractive if related companies are being purchased and assimilated but are to be kept separate for some period of time. It is also helpful for TPAs and independent adjusters.

Adjuster Performance and Statistics Tracking

The system collects data to allow performance and rating of both internal and external adjusters. Any adjuster can be given a user defined limit of authority with regard to reserve increases and payment authorizations. Adjusters can request assists from external or other internal adjusters.

Tracking of Salvage, Subrogation and Reinsurance Recovery Tracking

Risk Manager C/S allows the establishment of expected and actual recoveries and provides for aging and billing those recoveries.

Pre-Claim Register

Risk Manager C/S provides a pre-claim register to allows the logging and assessment of any report without actually creating a claim. All basic information like date, time and description can be collected and reviewed prior to the report being established as a claim and assigned to an adjuster.

Litigation Tracking

All the basic aspects of litigation can be attached to any litigated claim. This provides for the tracking of such things as performance of defense council, averages awards to claimants, reserve factors or loss triangles.

Automated Error and Enhancement Logging

Every screen within the system allows the user to call a logging program and add errors or enhancement ideas. These entries are given a priority and downloaded to IEG on a periodic basis. This allows users to easily identify what they need and where they need it.

On Line Reserving and Payments

Any authorized user can add reserves. Reserves and payments can be made interactively at any time and at the claimant or the claim level.

Automated Periodic Payments

Weekly periodic payment on workers’ compensation can be sent to print automatically on any periodic basis the user decides. It could be weekly, monthly, or some other number of days, which fits the normal pay period. The user can set an amount limit or number of payments limit and the payments will cease when that limit is reached.

DOT Accident Register

The system gathers the information needed to generate the DOT register. This report can be printed for any date range.

OSHA Log

The system gathers the data needed to automatically produce the standard OSHA log as a result of data entry on a workers comp claim. This log can be printed for any date range.

Related Document Attachments

The system allow pictures, videos, PDFs, spreadsheets, text documents,  audio file, scanned images and any other files to be attached directly to a claim.  These attachment can be reviewed or exported to external media upon demand.

 

Call 405-843-8142 to find out more.