A powerful cross-industry claim benchmarking solution that provides access to an extensive claims data warehouse to help validate risk management programs, uncover opportunities to improve operations and facilitate enhanced claims outcomes.
Industry-Specific Data Comparisons to Measure & Optimize Your Claims Operations
We are going to make your life easier with three simple steps!
One: We provide the most current and comprehensive database about the industry for Claims Operations.
Two: Validate and identify opportunities to improve your claim strategies in a practical and easy-to-customize platform.
Three: Improve your cost and efficiency of Risk Management programs by using our user generated reports tool to produce the information that you need.
Measuring your claims has never been so easy!
View differences between your claims and similar claims that can indicate areas of your risk management and loss control programs that may need to be improved to reduce claim frequency, age and cost.
Indemnity, Medical and Median Cost Reports can be used to identify opportunities for improvement if your costs are above, below, or in line with that of your peers.
Implement a methodology and framework to diagnose, improve, and monitor claims quality, efficiency and service.
Validate and identify opportunities to improve your Claim Strategies
Optimize the cost and operational effectiveness of the claims operation and maximize the use of company resources.
Set better reserves, get injured workers back to work faster and reduce claim costs.
Keep claim costs low by regularly reviewing claim performance as variables can change over time.
“Benchmarking is a key component in analyzing the performance of a client’s workers’ compensation program. TerraClaim Benchmark provides TPA’s and their clients with a quality, easy-to-use tool that provides many options to review performance results from multiple data selection variables. It is an important tool we utilize in our client stewardship reports.”
Executive Vice President & CIO
Help yourself manage your success
Whether you want to benchmark claims against industry peers, streamline your claims management process, improve claim outcomes or reduce claim costs, TerraClaim has a solution to help you increase the efficiency of claims operations.