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Technology and the workers’ comp sphere

One trend that the U.S. has recently seen when it comes to workers’ comp claims is a drop in claims frequency. Such drops can have many different effects within the workers’ compensation market, including having the potential to push down rates.

Why are claims going down in frequency? One thing some are pointing to is technology. There are a range of technologies that insurers and employers can utilize to try to help bring down the level and severity of worker’s comp claims. Below are some examples:

  • Wearables: Safety wearables can give employers the ability to monitor the safety conditions and actions of their workers, which can provide important insights and opportunities when it comes to preventing accidents and injuries.
  • Technology in the claims process: There are a range of new systems insurers could incorporate into their claims processes to try to increase efficiency and cut down on fraud.
  • Telemedicine: This can provide for quicker and more cost-effective treatment for injured workers, which could cut down claims costs.

What do you think the future will see when it comes to technology in the workers’ comp sphere?

Now, there are all manner of things beyond claims frequency that can have significant impacts on employers and insurers when it comes to workers’ comp. This includes the laws, rules and practices in the state(s) an employer or insurer operates in.

For example, here in New York, there are certain aspects of the workers’ comp system, including high benefits levels, that can pose some added challenges for employers and insurers. So, when navigating workers’ comp defense issues in New York, it can be very important for an employer or insurer to get the guidance of an attorney with a deep knowledge of the state’s workers’ comp system and how to address the challenges that can arise in relation to it.

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