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Claims Management

Managing the complete claims lifecycle

Reduce reporting costs

Expedite claims reporting to reduce claim-reporting costs plus gather the quality data you've always dreamed of!

Improve performance

 Optimize your financial performance,  processes, and transform raw claims data into actionable intelligence.

Proactive loss control

Track trends and identify patterns to proactively avoid incidents and reduce claims.

Maximize spend

Proactively manage your legal and service providers with greater insight into performance, expenses and risk.

Whether you self-administer claims or use a third-party claims administrator, RiskConsole’s claims module empowers you to gain control over any or all of the risk manager’s four most critical priorities around claims: incident intake, claims administration, claims consolidation and supervision, and litigation management.

RiskConsole consolidates all your organization’s claims data into one central repository. That’s important because capturing, managing and reporting on claims gives you a deeper understanding of risks your enterprise faces.

Claims Incident Reporting

Take your incident reporting up a notch

With an easy-to-use intake process, you can quickly get your incidents and claims notified, which is a key factor in reducing the closed lag time and overall claim costs. Additionally, this provides the quality claim data to allow for accurate analysis of trends and root causes.

Flexible Forms, RiskConsole’s online intake tool, ensures you capture all necessary incident information, and at a substantial savings over telephone-based intake services.

  • Dynamic forms respond as the users complete the questionnaire so only relevant questions are shown.
  • Forms are non-technical, with embedded instructions and other relevant information, which makes it very easy for field users to complete.
  • Instant data validation based on your parameters, plus mandatory fields, ensure complete and accurate completion without the need for follow-up.

Supervise or handle your claims: Key to being in control of your loss experience

As a solution for self-administration of claims, RiskConsole provides users with the freedom and flexibility to manage claims fully online. Use RiskConsole to adjust customer claims, third-party liability losses or any other coverage lines.

RiskConsole supports all associated documentation, diary actions, notes, contacts and payment functionalities. Email-in capability forwards documentation to you. RiskConsole captures virtually any type of file format, including photos.

Define your claim types as well as payment buckets, transactional values and claim payment detail. View, add, edit and remove all claim records. In addition to commonly used claims management fields, client-specific custom data fields are available. Track all claim details, including description and causes of the loss, through to the financials.

Claim Handling
Improve Your Loss Experience

Improve your loss experience

Want to optimize your investment in loss control? Establish the best split between retention and transfer of risk? Working with accurate, comprehensive and reliable claims data puts you in the position to meet your big-picture risk-management objectives.

RiskConsole brings all claims information from across your entire business operations and third-party administrators into one clear view so that you can effectively manage and analyze claims throughout their lifecycles.

  • Monitor claim trends and identify key loss drivers.
  • Establish optimal reserves and avoid under-reserving.
  • Provide accurate loss history and loss triangles to your actuary for optimal risk placement.
  • Promote successful coverage outcomes, including prompt claim payments.
  • Establish internal benchmarks for promoting risk management across your organization.

Maximize the impact of your legal and service provider spend

With RiskConsole’s in-depth reporting and analytic capabilities you can actively monitor a whole range of key performance indicators. This allows you to proactively manage all your legal and service providers.

Keep track of all your litigious matters, including legal expenses, docket details, allegations, attorney contacts and diary information.

By actively monitoring the legal position of your claims (for example, with accelerated settlement on simple cases or, indeed, avoiding litigation with rapid responses), you can enhance your organization’s profile and drive down legal costs.

MULTIPLE DATA-ENTRY OPTIONS

RiskConsole is very flexible in allowing claims information to be entered directly into the system, loaded from a wide variety of TPAs and insurers, or through a combination of the two as appropriate based on volume and with integration possibilities. It’s all done automatically and seamlessly.

COVERAGE LINES SUPPORTED

RiskConsole supports a comprehensive range of coverage lines with extensive data elements and business rules, including general liability, employer’s liability, workers compensation (overview), property damage, professional liability and logistics/inland marine.

RESERVE AND PAYMENT TRACKING

Track changes to reserve and payment detail information on a claim, with reports to show period-to-period changes in claim values. Payment detail information can be sent to any accounting system for integration with your general ledger. With online approval processes for both payments and reserves available to fit into your financial controls.

TRACKING, ANALYSIS AND REPORTING

All claim information is available through RiskConsole’s powerful reporting and querying capabilities. Extensive dashboarding tools empower you to spot trends quickly. And mapping tools let you analyze claims from a geographical perspective, with full drill-down capabilities.

AUDITABLE

RiskConsole provides a fully auditable record where you need to comply with your organization’s financial controls or as part of regulation compliance, for example SOX.


FLEXIBLE AND ADAPTABLE

RiskConsole’s flexible architecture allows you to track and manage information according to your business practices. Meet your current and future business workflow needs. Configurable fields include data elements, security, business rules and event notification.


Stagecoach
Ventiv Technology provides Stagecoach with a streamlined path to increase efficiency and accuracy for its claims management needs.

Shipments
K & S Freighters

K&S Freighters

"We add quality data to the system, and as a result, the system has begun to work for us—providing our company and our brokerage team with the information we need to achieve the best-possible results." Read More >

FIONA JOHNSTON

Insurance Manager

K&S Freighters

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