Claims
Cross-market comparisons are only clicks away with Benchmark by Terra! Make more informed databased decisions about claims to validate risk management programs and improve operations.
Industry-Specific Data Comparisons to Measure & Optimize Your Claims Operations
Use Claims Benchmark to Make Data-Driven Decisions in Three Simple Steps
Step 1: Collect the most current and comprehensive database about the industry for Claims Operations.
Step 2: Validate and identify opportunities to improve claims strategies in a practical and customizable platform.
Step 3: Improve cost and efficiency of Risk Management programs by using user-generated report tools to produce vital insights.
Measuring Claims Has Never Been Easier
- 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 your peers.
- Implement a methodology and framework to diagnose, improve, and monitor claims quality, efficiency and service.
Validate & Identify Opportunities to Improve 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 claims costs.
- Lower claims expenses by regularly reviewing claim performance as variables evolve.
