Property/casualty insurance and employee benefits buyers, along with agents, brokers, and other intermediaries, can save time, increase productivity, and manage costs as a result of major changes to the Web-based risk management information system known as RISKTRAC, reports Liberty Mutual.
The enhancements to RISKTRAC create a single system for managing risk, disability, and leave programs and offer added features to allow customers and distribution partners to better manage these programs.
“Users drove these enhancements,” says Frank Radack, Liberty Mutual’s manager of customer loss information. “We worked with buyers and intermediaries to understand what they wanted in a system and how we could make ours even better. The result is a single system that gives users easier access to key information that lets them better manage a broader range of the most expensive reasons employees are away from work.”
The enhancements to the RISKTRAC system include:
• Intuitive, tab-based navigation. Users now can jump from the home page to the functional area they want, including claims, leaves, incidents, alerts, and reports.
• Enhanced search. Quick search and advanced search tools are available to discover a specific claim or leave by searching multiple criteria at the same time.
• Reminders. The system includes diary and watch-list tools to remind users to follow key claims and leaves and what steps they can take to manage them.
• In-depth analysis. Program trends can be spotted quickly by creating, distributing, and drilling into customizable reports. Data can be exported to Excel for further analysis.
• Current financial values. Financial data concerning claims is updated on a daily basis and available for viewing and reporting.
Liberty Mutual also has enhanced its ClaimTrac system, which manages group disability programs and information. Those upgrades allow HR and benefit buyers and intermediaries to manage absences beyond disability, including federal- and state-mandated medical leaves as well as customer-defined leaves.
The claims system includes many of the new search, export, and navigation features of RISKTRAC and is available in a stand-alone product or through RISKTRAC.