Insurance brokerage firm, Acordia Northwest, healthcare professionals’ insurance company, PICS Wisconsin, and Pennsylvania-based retailer, Wawa, are the clients CSC adds to its existing 450 organizations. The clients have chosen Riskmaster with a view to reducing their risk management costs, gaining better control of their underwriting risks and processing claims more efficiently.
CSC designed Riskmaster for self-insured corporations, third-party administrators, healthcare companies and public entities. By automating the claims processing environment, from risk management and claims administration to policy processing and litigation management, Riskmaster claims to give both managers and front-line users accurate, up-to-date business and market data.
CSC says Riskmaster offers an integrated event-to-claims-management process, allowing companies to manage the life of a claim from first notice of an event to final settlement.
The system manages a variety of critical claims data including: property, casualty, general liability, workers’ compensation, automotive liability, accidents, professional liability and integrated disability management.
Riskmaster’s business intelligence component uses Business Objects’ web intelligence to consolidate data from diverse sources and mine it for enhanced real-time and scheduled reporting. CSC says additional Riskmaster components help organizations manage outside legal counsel, comply with the US Treasury Office of Foreign Assets Control (OFAC), and perform fraud and fault evaluations to streamline core business processes.
Ray August, president of the property and casualty insurance division of CSC’s financial services group said, This year, 18 new clients chose Riskmaster. The system, which is based on 20 years of experience in the self-insured market, is helping organizations in industries as varied as aerospace, energy, government, greeting card manufacturing, healthcare and retail, achieve real business results.
