Better Coverage.
Made on Duck Creek
There’s a new standard for workers’ compensation insurance, reimagining how to assure businesses and support workers after on-the-job accidents and injuries, all within the bounds of strict regulatory frameworks.
Benefits
Reimagine the workers’ compensation experience
Create a workers’ compensation experience where agents and customers look forward to doing business with you, your people are empowered to drive better outcomes, and injured workers recover faster.
Strengthen your bottom line
Take control of how your business performs with accurate risk assessments, streamlined workflows, and better outcome management within the constraints of rates and benefits defined by law.
Ensure evergreen compliance
Thrive within uncertainty by staying up-to-date with myriad continuously-evolving regulations that dictate critical aspects of your insurance offerings.
We’re building a system that will help us add even greater value to Liberty Mutual workers’ compensation policyholders, customers of our third-party administrator Helmsman Management Services, distribution partners, injured employees, and our claims professionals… The new system [Duck Creek Claims] will let us continue to produce better outcomes for injured employees quickly and efficiently by replacing two legacy systems with a single state-of-the-art platform.
Wesley Hyatt
SVP & Manager, Workers Compensation Claims
Workers’ Compensation Solutions
Focus on policy deviations that make your business unique instead of maintaining base content
Capabilities Enabled
- Accelerate implementations with pre-built rates, rules, forms, and statistical codes, plus state taxes, fees, and surcharges for NCCI and state-based workers’ compensation bureaus
- Keep actuarial data current with monthly updates of bureau circulars generally available 90 days prior to effective date
- Streamline processes for adopting, rejecting, or modifying circular updates with our Online Circular Adoption tool and support from Duck Creek
Benefits
- Improved accuracy of bureau circular adoption
- Reduction of product maintenance resources
Accurately and efficiently assess and price risk to ensure profitability
Capabilities Engabled
- Automate submissions and streamline tasks required by skilled underwriters through data pre-fill and rules-based automation
- Embed data and predictive analytics at every decision point to ensure proper segmentation, risk selection, and price adequacy
- Design and support the entire policy lifecycle from quote to underwrite, bind, and renew or cancel with speed and agility
Benefits
- Increase underwriter productivity
- Reduce underwriting expenses
- Decrease customer inquiry response times
Improve ease of doing business and empower customers and agents
Capabilities Enabled
- Create a mobile-friendly front end that handles all key transactions like quoting and submitting new business, paying bills, and claims inquiries
- Deliver fast and intuitive experiences with data prefill capabilities and workflows that align to the familiar ACORD standard
- Leverage a single point of change to maintain multiple user portals under a common set of product definitions
Benefits
- More productive and loyal producers
- Higher customer satisfaction scores
- Optimized quote to bind ratios
Offer personalized and efficient options for collecting payment
Capabilities Enabled
- Integrate with payroll providers to offer pay-as-you-go billing based on number of employees instead of periodic premium estimates and audits
- Provide customers their choice of preferred payments mechanisms like ACH transfers or credit cards
- Streamline the billing lifecycle from account creation to defining installments, invoicing, receiving payments, and updating balances
Benefits
- Improved revenue recognition
- Faster turnaround on determining amounts due
- Reduced servicing costs
- Increased renewal rates
Manage multiple stakeholders and complex requirements to achieve consistent claims outcomes and aid recovery
Capabilities Enabled
- Streamline the entire claims lifecycle from FNOL to investigation, evaluation, adjudication, and recovery
- Embed data and predictive analytics at every decision point to ensure proper claims triaging and accurate identification of large loss claims and benefits calculations
- Push highest priority tasks to adjusters’ attention to efficiently improve injury management across a large volume of claims
Benefits
- Increased claims adjuster productivity
- Improved fraud detection
- Lowered lost adjustment expenses
- Decreased claims processing times
Simplify reporting processes for compliance and business analysis
Capabilities Enabled
- Satisfy reporting requirements established by NCCI, IAIABC, CMS, ISO, and state regulators
- Create a single source of truth that consolidates data across core systems, other internal systems, and external data feeds
- Develop persona-based reports and management dashboards that provide insights to executives, underwriters, and claims handlers
Benefits
- Improved reporting accuracy
- Reduced compliance penalties
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