(Image source: ClaimBender homepage.)
Insurity (Hartford), a provider of cloud-based software for insurance carriers, brokers, and MGAs, has formed a partnership with ClaimBender (Fernandina Beach, Fla.) to reduce workers’ compensation costs for customers through actionable data and analytics. ClaimBender combines a digital safety engagement system designed to reduce frequency by 50 percent and a virtual occupational physician service to consult injured workers in the field, keeping 90 percent of injuries as a first aid event, according to an Insurity statement.
The new partnership includes integration between Insurity’s Workers’ Comp Suite and ClaimBender. The combination aims to create an affordable risk mitigation model for smaller employers through Insurity clients.
“We are excited to incorporate the ClaimBender strategy into the Insurity ecosphere of solutions,” comments Mark A. Smith, CEO, ClaimBender. “This is a novel and natural fit that will be a major evolutionary step in changing the traditional workers’ comp model. The Insurity and ClaimBender partnership will bring new value and risk mitigation to carriers and insureds.”
The ClaimBender solution complements Insurity’s Workers’ Comp Suite by improving the overall operational claim efficiencies, lowering claim pay-out costs, and improving underwriting processes by proactively identifying risk and weakness areas, according to the Insurity statement.
Rehabilitating Clients with High Loss Ratios
“Thanks to this Insurity and ClaimBender partnership, a carrier will be able to distribute industry-specific safety content to frontline supervisors and employees and know the engagement in that content,” says Sylvester Mathis, Chief Insurance Officer, Insurity. “This service, combined with a virtual occupational physician to consult with injured workers when the injury happens, empowers carriers to improve profitability by rehabilitating clients with high loss ratios.”