NEW YORK (October 14, 2014) — Proactive claims reporting and management can contribute positively to the ongoing sustainability of an organization in a number of financial and nonfinancial ways – according to RIMS new executive report titled, “Claims Reporting and Management Practices.”
The
reference guide, authored by members of the RIMS Standards and Practices
Council, explores the characteristics of a successful claims reporting and
management program. Specifically, the 18-page guide reviews the principles of
claims management, steps for establishing a claims management program,
managing, reporting, monitoring claims and improving the claims management
program, as well as integrating claims management into an Enterprise
Risk Management program. Tips on claims management
are highlighted in the report.
“Claim
reporting may be perceived as reactive, but
risk professionals who have taken proactive steps to develop and
implement a structured claims management process will be prepared to fairly and
efficiently address a claim. Perhaps more importantly, analyzing trends not
only can prevent future incidents, but can also improve operations,” said Yvette
Ho Sang, Chair of RIMS Standards & Practices Council. “In this Executive Report, we aimed to help
risk professionals develop comprehensive and transparent claim reporting
programs that tie into their organization’s strategic and operational
initiatives.”
Through its Standards and Practices Council, RIMS actively reviews a variety of insurance and risk management practices to educate the Society’s members on risk management “best-practices” further enabling them to achieve expected organizational objectives with better success.
RIMS Executive Report: Claims Reporting and Management Practices is available in RIMS Risk Knowledge library www.RIMS.org/RiskKnowledge. The report is free for RIMS members and $29 for non-members.