Access to Claims Details in One System
With RiskConsole, all of the PSV Claims staff can simultaneously gain a full understanding of the status for each claim.
“We all have access to the details of an incident as soon as they’ve been entered, and can immediately see what we expect to pay out as an estimate, and payments that have been made,” says Marwick. “This makes it easier to keep track of the financials and manage claims within the provisions we’ve set for the year.”
Another immediate benefit of using RiskConsole has been the reduction in the time it takes to produce reports.
“We produce a lot of reports – financial, actuarial, claims bandings and bus operator reports,“ says Marwick. “This used to be a manual job that I can now do with one click of a button.”
The time savings also enables the PSV Claims team to spend more time with, or provide more data to, the bus operators and operational teams helping to spot trends and put safeguards in place. These tactics are helping Stagecoach to prevent potential accidents from occurring.
Confidence in Reports
Employee and fleet information is now automatically pulled into RiskConsole, which helps improve data accuracy. Marwick explains, “We used to manually type in the employee’s details. We now avoid this issue by taking a direct feed from our payroll database and vehicle database, so there’s far less potential for typos and errors.”
Within Stagecoach, the PSV Claims team is responsible for allocating individual bus operators’ costs and charges related to their claims. The new reporting tool helps facilitate this task as well.
“The updated database also helps ensure the bus operators are receiving the correct costs and yearly charges for their claims,” says Marwick.
RiskConsole has now been live for a little more than six months. “We’re still bedding in,” adds Marwick, “but, we’re already starting to see benefits and they’ll be more to come.”
Marwick and his team are now looking to build in additional efficiencies by automating processes and setting up the letter template tool. They also want to use the reporting tools to spot ‘claim repeaters’ and identify indicators that usually lead to future claims.
“We have RiskConsole set up in a way that will enable us to analyse the whole claims lifecycle. This will help us to improve the way we deal with claims in the future,” says Marwick.
Working with the RiskConsole Team
Implementing a new RMIS for a global enterprise is not without its challenges, yet the right team and system are key elements in bringing forth a strategy that provides real results for the company.
“We’ve had excellent guidance and support, as well as on-site visits from the RiskConsole team,” says Marwick. “They have an understanding of our business, what we’re trying to achieve and what we’re using the system for, which I think helps both ways.”
For those thinking about implementing a new RMIS, Marwick offers a few pieces of advice. “Plan what you want to achieve and know in advance what it is that you’re wanting out of the system so you can achieve this goal,” says Marwick.