(Image source: Origami Risk homepage.)
Origami Risk, a Chicago-based provider of insurance Software as a Service (SaaS) solutions, has launched Origami Compliance, which the company describes as a suite of solutions that provides adjusters with automated access to forms, rates, rules, and regulations to streamline their adjudication process. The Origami Compliance solutions are delivered via a web application programming interface (API) that operates behind the scenes to facilitate a reliable and secure connection with any claims management system, according to the vendor.
Origami Risk characterizes its new suite of compliance solutions as distinct from its other offerings in that it integrates with any claims software and provides real-time access to up-to-date forms, laws, regulations, and rates, helping to ensure compliance requirements are met. The solution, which the company says is powered by a comprehensive rules engine, also makes it possible for adjusters to automatically have access to the most up-to-date forms, accurate calculations, current rates and up-to-date regulations.
The compliance rules engine evaluates claims activity to automatically fill out the correct document from Origami Compliance’s library of over 5,000 forms and letters of correspondence, according to a vendor statement. The solution’s indemnity benefits rules engine further evaluates claims to calculate average weekly wage (AWW) and indemnity benefits. Adjusters can leverage the system’s unique search engine to access more than 9,000 federal and state laws, regulations, and rates, Origami Risk says.
Efficiencies and Time Savings
“Maintaining your own library of state forms is like building your own power plant—it simply doesn’t make good business sense when you could be better spending your resources on driving results in other areas,” comments Bob Petrie, CEO and cofounder of Origami Risk. “Using technology to optimize workers’ compensation compliance allows you to realize real efficiencies and time savings, providing an instant return on investment.”