Cut costs and drive better outcomes with direct access to advanced benchmarking analytics from Workers’ Compensation Diagnostic available on WTW’s RiskIQ analytics platform.
Workers’ Compensation Diagnostic means benchmarking customized to what matters to you. Select and weight up to three industry groups and compare to like jurisdictions that best reflect your organization’s profile to benchmark against businesses closely matched to your operations.
With Workers’ Compensation Diagnostic’s powerful, multi-dimensional view of your loss experience you can:
- Evaluate performance against your customized peer group, for more relevant benchmarking insight
- Pinpoint and address your top loss drivers from diverse key performance indicators
- Reduce costs with recommendations based on the specifics of your business
- Quantify the impact of improved claims efficiency, projecting potential future savings and financial performance gains
- Visualize the financial impact of recommended mitigations, both pre-and post-loss
- Adjust your benchmarks anytime, exploring different scenarios and getting instant updates whenever you need them with no waiting, no hassle.
How can you optimize performance with Workers’ Compensation Diagnostic claims analysis dashboards?
- Claims baseline dashboard summarizes your claims data, letting you see trends and irregularities to enable faster, more decisive action
- Claim insights dashboard analyzes performance by location and policy year to reveal operational inefficiencies impacting claim costs
- Cost drivers dashboard identifies the key groups, regions and claim types driving costs, letting you zero in on targeted improvements.
