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< Previous8 CLM MAGAZINE JULY / AUGUST 2023 he insurance industry is rapidly evolving, and the adoption of new technologies is spreading from underwriting departments to claims. As a new landscape emerges, carriers face new risks and challenges, but there are also opportunities for claims departments that prioritize, strategize, and implement new methods effectively. Here are the top industry trends that are creating both challenges and opportunities for carriers and claims departments. TECHNOLOGY INVESTMENTS Insurtech and digitization have traditionally focused on the front-end, consumer-facing side of the insurance business, from quoting and binding to underwriting. Now, these digital advancements are shifting to the claims side. Claims adjusters are able to benefit from a comprehensive digitized strategy when policyholders file a claim. For companies to implement a streamlined claims process and reduce loss adjustment expense, the digitized claims side must start with drawing insights from data to determine the right insurtech solution to implement. Artificial intelligence (AI) and machine- learning (ML) algorithms are processing more data than ever to boost decision- making to the highest degree of accuracy, allowing claims professionals to predict potential risks and make more informed decisions. The benefits are plentiful. Carriers that are paving the way in digitizing claims with a proactive focus are leveraging data through analyzing historic metrics. As they build out data models for various uses, however, they must discover what works and what does not, and this requires vetting, testing, and Turning Challenges Into Opportunities A Look at 2023’s Industry Trends and How They Impact Claims By Troy Stewart Troy Stewart is president and chief operating officer of Brush Claims. troy.stewart@brushclaims.com CLAIMS MANAGEMENTTHECLM.ORG/MAGAZINE CLM MAGAZINE 9 leveraging third-party data solutions to refine their models. In addition, with new technological investments seamlessly merging with daily business practices, cybersecurity is no longer just a technology risk, but also a business risk. As more insurance companies explore new technology investments to reduce costs and improve customer satisfaction—such as AI, process mining, virtual agents, and intuitive user interfaces—protecting data must be a top priority. Claims departments must safeguard clients’ personal information and protect policyholder data by implementing robust security measures and increasing investments in cybersecurity. WORKFORCE TALENT SHORTAGE The insurance industry—claims departments included—faces two challenges at once when it comes to the persistent talent shortage. The industry is projected to see nearly 25% of its labor force retire in the next three years, and 2020 PwC statistics show that 50% of CEOs say they are held back on innovating effectively due to employee skill shortages. At the same time, the next generation of workers does not currently see insurance as a desirable career path. A recent Pew Research Center study found that only 4% of millennials are interested in working in insurance. Generation Z and millennials are transforming the workforce with new passions and demands, impacting all industries. Work-life balance has become a key topic among working adults, with a 2022 Forbes survey revealing that 90% of employed respondents say it is important. Insurance is a highly demanding industry, making it challenging to achieve optimum work-life balance, so leaders must focus on creating environments and cultures that promote and nurture this balance to meet the needs of today’s employees. As insurance companies seek to implement digital transformation strategies, their talent strategies must prioritize technology, analytics, and actuarial roles with flexible work arrangements aligned with business priorities. Rather than sourcing new talent from an already scarce employee market, employee upskilling and reskilling are imperative. To bridge the skills gap and equip employees with digital know-how and tools, leaders must be proactive in training employees with a long-term goal in mind that is based on a mission of lifelong learning. Finally, with rising expenses and increasing talent shortages, more companies will look to create partnership ecosystems. These ecosystems could be created by diversifying service providers and methods of claims handling, or by enabling strategic insurtech solutions that allow for greater efficiencies and end-to- end solutions to keep the consumer at the center of the claims experience. RISING INDEMNITY EXPENSES Per Kiplinger’s Economic Forecasts, the annual inflation rate was at 6.4% at the beginning of 2023. With inflation at an all-time high and with the severity and frequency of catastrophic events increasing, carrier indemnity expenses will continue to rise throughout the year. According to the Insurance Information Institute, property and casualty lines experienced an over 16% cost increase as of last spring. This brings higher renewal rates and drives consumers to shop for policies, putting brand loyalties to the test. According to McKinsey research, these rising prices have led to loss costs increasing by approximately $30 billion in 2021, with almost all lines of insurance experiencing a rise in claims costs. While indemnity expenses have increased due to inflation, they can be somewhat controlled by increasing the speed of service with insurtech solutions. If carriers can better triage claims by improving self-serve, desk, managed repair, and field response, they can better align severity and adjuster resources, and anticipate the likelihood of a claim escalating. This saves valuable time early in the claims process, but requires implementing changes that sometimes get stuck in the discussion stage. CONSUMER DEMANDS Consumer demands continue to evolve, and speed and transparency now top their list. A Label Insight study found that 94% of consumers will remain loyal to a transparent brand, and 75% are willing to pay more for products or services from a brand they view as genuine. Unfortunately, many in the insurance industry are failing to meet the mark on these expectations. However, by leveraging data and insurtech, carriers can begin to drive personalization and consumer engagement from new policy takeout to claim response. It is important that carriers personalize claim responses and tailor them to policyholders’ needs, preferences, and specific losses. Carriers must be mindful to not seek a one-size-fits-all solution, as it will end up missing many consumers’ needs. With the right insurtech solutions, companies can meet consumer demands with speed of service and adjuster efficiencies. While 2023 is a year of challenges for claims departments, it is also full of opportunities for significant movement and growth. Implementing the right insurtech solutions will help carriers make strides in strategies while allowing them to remain agile. Carriers that stay ahead of the curve will continually analyze trends and evaluate the risks and opportunities. From digital advancements moving to the claims side of the business, to workforce shortages, to a rise in indemnity expenses, to shifting consumer demands, there are many opportunities to grow through the challenges. K Rather than sourcing new talent from an already scarce employee market, employee upskilling and reskilling are imperative.10 CLM MAGAZINE JULY / AUGUST 2023 he legal landscape has witnessed a surge in nuclear verdicts, or jury awards in civil cases that exceed $10 million. According to a recent report from the U.S. Chamber of Commerce Institute for Legal Reform, the median reported nuclear verdict increased from $19.3 million in 2010 to $24.6 million in 2019, representing a 27.5% cumulative increase during a period when inflation rose by about 17.2%. Nuclear verdicts can have a significant impact on businesses, insurance rates, and the overall economy. And things are likely to get worse, with a Clyde & Co 2023 industry predictions report finding the number of nuclear verdicts will continue skyrocketing in 2023. One under-discussed challenge associated with this trend is keeping case files organized throughout the claim and litigation process. Fortunately, there are proven ways for businesses, underwriters, and attorneys to reduce costs, increase efficiency, and substantially reduce the risk of errors and omissions. These three steps are essential. EFFECTIVE DATA MANAGEMENT AND ANALYSIS First and foremost, insurers must understand early case assessment and evidence preservation. A major pain point lies in the overwhelming volume of information and the intricacies of data retrieval processes, which are often still manual and complex. Both insurers and attorneys require accurate and timely information to develop a strong defense strategy, and finding the often- hidden details can be the decisive factor in any case. It’s Time To Get Organized Combatting the Record-Keeping Nightmare of Nuclear Cases By Shareen Minor Shareen Minor is chief revenue officer at Ontellus. shareen.minor@ontellus.com LITIGATION MANAGEMENTTHECLM.ORG/MAGAZINE CLM MAGAZINE 11 In fact, according to the 2016 CLM Advisors report, “Industry Practices in Records Retrieval,” claims professionals spend 12% of the day— roughly six weeks every year—on records retrieval. To make matters worse, legal and claims professionals reported having to manually sift through five to seven records per case, taking an average of 30 hours to organize chronologically, and another six hours to search for keywords. By harnessing technology— specifically, artificial intelligence (AI)—companies can streamline their operations and concentrate on case strategy and defense. AI enables large volumes of data to be handled and analyzed more efficiently, even when gathered from various sources across jurisdictions. An effective data and information management solution means utilizing valuable tools that facilitate decision-making and provide data visualization, trend analysis and reporting, and identification of data patterns or anomalies. Moreover, this solution should provide an executive summary that highlights the most important insights from files and a smart-search function for instant keyword retrieval. Maintaining evidence in a comprehensive and well-organized manner is crucial to ensure a thorough examination of the facts while minimizing the risk of data loss or compromise. The right technology can help defendants allocate their resources efficiently, which promotes accurate information processing and allows companies to navigate complexities, educate juries, and facilitate information-backed presentations by expert witnesses. THE RIGHT EXPERTISE Successfully navigating nuclear verdict cases also requires a team of experts familiar with state insurance and compensation rules, as well as legal rules pertaining to information intelligence. While technology is an incredibly helpful tool, it is still crucial to assemble a team of legal professionals, investigators, and records retrieval specialists in advance who can ensure prompt and effective handling of serious claims. Beyond getting the information from point A to point B, companies can streamline information intelligence by engaging with a network of experts that understands the nuances of various jurisdictions and can provide invaluable guidance throughout the case. By leveraging this network’s expertise, defendants can navigate the intricacies of nuclear verdict cases more effectively, develop robust defense strategies, and ensure compliance with relevant legal statutes. Within that same consideration, quick and efficient information management can allow plaintiffs, defendants, or insurers the time needed to review and revise existing laws and regulations related to liability and damages to ensure they are fair, reasonable, and aligned with economic realities. By utilizing the collective expertise of their team, companies can strengthen their defense or implement measures such as damage caps, structured settlements, or alternative dispute resolution mechanisms to promote more balanced outcomes. IRONCLAD DATA SECURITY In most nuclear verdict cases, high-stakes litigation and sensitive information are involved, making data-security even more paramount. Companies must always ask their partners about how they implement stringent security protocols and leverage advanced technologies to ensure that client data is protected from unauthorized access, breaches, and cyber threats. A recent IBM report found that companies can save an average of $2.66 million by forming an incident response team that tests their software and plan. When evaluating your tech stack and the experts behind it, it is important to ask if those experts are adhering to all rules of evidence and data privacy for local, state, and federal laws. Encouraging businesses to adopt comprehensive risk management practices—including safety protocols, employee training, and adherence to industry standards—will help reduce the likelihood of accidents and demonstrate a commitment to safety. Data security plays a pivotal role in mitigating nuclear verdicts by safeguarding sensitive information, maintaining confidentiality, and ensuring compliance with regulatory requirements. Do the leg work up front when choosing your partners so your organization can confidently navigate the complexities of nuclear verdict cases while protecting against potential risks and vulnerabilities. As nuclear verdicts continue to surge, businesses and legal professionals must recognize the importance of strategic information management to effectively navigate these high-stakes cases, while proactively minimizing potential liabilities and safeguarding their organizations in this challenging legal environment. By streamlining data management and engaging with experts that are well-versed in unique laws on information exchange and management, organizations will be well-positioned to manage the risks associated with nuclear verdicts or have the resources necessary to push for mediation and arbitration as an alternative dispute resolution method. K Claims professionals spend 12% of the day— roughly six weeks every year— on records retrieval.12 CLM MAGAZINE JULY / AUGUST 2023 s a seasoned lawyer with 42 years of experience, I perceived the concept of artificial intelligence (AI) as a distant realm I could never truly comprehend. However, as I approach the twilight of my legal career, I find myself inexplicably drawn to the potential of this revolutionary technology. Here, I share my personal experiences and insights, aiming to inspire others to embrace change and continually strive for growth in their careers. BREAKING STEREOTYPES, IGNITING CURIOSITY In a world where technology often appears to be the domain of the young, I began to question whether I could bridge the generation gap and conquer AI. I concluded that age should never be a barrier to learning and adapting. I realized that I had the power to break free from societal expectations and expand my horizons late in my career. I decided to go “all in” on AI. Fueled by an unquenchable curiosity, I embarked on a path of discovery, seeking to unravel the mysteries of AI. I read everything I could on the topic—no small feat with the plethora of articles coming out each day chronicling its promises and pitfalls. I co-authored articles on AI topics related to the legal industry with attorney and author David Steiger, who shares my interest in AI. Then a former colleague called me to suggest I take a course offered by MIT’s Sloan School of Management on the business implications of AI. I looked it up and decided that, if I was really serious about this topic, I had to dive into the deep end of the pool. I enrolled in my first college class in 42 years, at esteemed MIT, no less! And I absolutely loved it—so much so that I enrolled in other certificate courses from Vanderbilt University and IBM. I was eager to understand the foundations, applications, and ethical implications of this transformative technology. Each course opened new doors, and I found myself traveling ever deeper into the world of AI with a newfound enthusiasm. After dedicating my life to the practice of law, I came to a profound realization: AI would redefine the legal landscape. With AI-powered tools and algorithms, legal professionals could streamline their workflows, analyze vast amounts of data, and provide more comprehensive services to clients. The prospect of leveraging AI to focus on higher-level strategic work excited me. I saw the potential for innovation within my profession, creating more value for my clients and pushing the boundaries of what was possible. THE JOURNEY OF ADAPTATION AND EMBRACING OPPORTUNITIES As an “old dog” venturing into the realm of AI, I encountered my fair share of challenges and obstacles. Technical concepts and unfamiliar methodologies My AI Journey An ‘Old Dog’ Learns New Tricks, and Hopefully Inspires You By Stratton Horres Stratton Horres is senior counsel at Wilson Elser in its complex tort and general casualty practice. stratton.horres@wilsonelser.com TECHNOLOGYTHECLM.ORG/MAGAZINE CLM MAGAZINE 13 initially left me feeling overwhelmed and uncertain. However, I quickly realized that embracing AI required a shift in mindset. I approached it with the same determination and persistence that had propelled me throughout my legal career. I immersed myself in the material and sought guidance from professors and experts. Gradually, the pieces started falling into place. The more I delved into AI, the clearer it became that its integration into the legal profession offered a world of opportunities. Here are some ways AI can assist and enhance the practice of law: • Legal Research and Analysis. AI- powered platforms can analyze vast amounts of legal documents, case law, and statutes in a fraction of the time it would take a human to accomplish the same tasks. By leveraging natural language processing and machine learning algorithms, AI systems can identify relevant precedents, extract key legal concepts, and provide comprehensive research reports. This enables lawyers to streamline their research process, make more informed decisions, and save valuable time. • Contract Analysis. Reviewing and analyzing contracts can be a time- consuming task for lawyers. AI tools can automate the process by extracting key provisions, identifying potential risks, and highlighting anomalies or inconsistencies. With AI, lawyers can review contracts more efficiently, ensure compliance, and identify relevant clauses, allowing them to focus on negotiating favorable terms and mitigating legal risks. • Due Diligence. AI-powered platforms can accelerate due diligence processes in mergers and acquisitions, helping lawyers identify and assess potential risks or liabilities associated with a transaction. By leveraging machine learning algorithms, these platforms can sift through extensive amounts of data—such as financial records, regulatory filings, and contracts—to provide comprehensive reports and insights. This enables lawyers to make well-informed decisions, minimize risks, and streamline due diligence workflows. • Predictive Analytics. AI can analyze patterns and historical data to provide predictive insights into legal outcomes. By analyzing past cases, court rulings, and relevant factors, AI systems can help lawyers assess the likelihood of success in a legal matter, determine optimal legal strategies, and make informed recommendations to clients. This enables lawyers to provide clients with realistic expectations, improve case management, and optimize resource allocation. • Document Automation. AI-powered tools can automate the generation of legal documents such as contracts, wills, and legal forms. By leveraging templates and natural language processing capabilities, AI systems can customize documents based on specific client needs, saving lawyers time and reducing the risk of errors. This enables lawyers to focus on higher-value tasks while ensuring the accuracy and consistency of legal documents. • E-Discovery. In litigation, e-discovery involves the identification, collection, and analysis of electronically stored information (ESI). AI algorithms can efficiently analyze large volumes of ESI—such as emails, documents, and social media posts—to identify relevant evidence, classify documents, and streamline the review process. AI-powered e-discovery tools can significantly reduce the time and cost associated with manual document review, enabling lawyers to build stronger cases and improve litigation efficiency. • Legal Chatbots and Virtual Assistants. AI-powered chatbots and virtual assistants can provide instant legal information and guidance to clients. These AI tools can answer common legal questions, provide explanations of legal terms, and offer initial guidance on legal issues. By leveraging natural language processing capabilities, chatbots and virtual assistants can enhance client engagement, provide 24/7 support, and improve access to legal services. INSPIRING OTHERS My journey into AI serves as an inspiration to legal professionals of all ages. It’s never too late to learn and grow. By embracing change, overcoming self-doubt, and continuously expanding our skill sets, we can remain relevant in our own careers and make meaningful contributions to our field. The future of law lies in our ability to blend our experience and expertise with the power of AI, creating a harmonious synergy that propels us forward. As I stand at a crossroads in my career, the integration of AI has become an essential element of my professional journey. What initially seemed to be an insurmountable challenge has transformed into a thrilling adventure of growth and discovery. I encourage my fellow legal professionals to shed their reservations, be open-minded, explore the opportunities presented by AI, and remain lifelong learners. The path to success lies in embracing the future with open arms. With AI as our ally, we can shape the future of law and leave a lasting impact on our profession. K After dedicating my life to the practice of law, I came to a profound realization: AI would redefine the legal landscape.14 CLM MAGAZINE JULY / AUGUST 2023 ven though we are well into the summer season, camps and youth recreation programs are still re- evaluating their insurance needs to prepare for known and unanticipated risks. Those involved in the claims process for both camps and insurance carriers should be aware of the most pressing issues these organizations are facing this season. Following are some of the top risks, and steps that can be taken to manage them. ESPORTS ON THE RISE Esports are becoming more popular— and more of a security risk. Esports, also known as electronic sports, refers to multiplayer video games in which players compete with each other. Camps engaged in this activity can protect themselves by: • Keeping their software up to date. Not only should camps ensure they have the latest version of all apps, but also, if they allow campers to use personal devices, camps should have a system in place to check those, too. • Allowing system access only to those who have been approved. Camps should not post their Wi-Fi password in public. Campers should be strictly supervised when they are on the organization’s network. • Encouraging staff to create strong passwords for their accounts. The U.S. Department of Homeland Security’s Cybersecurity & Infrastructure Security Agency (CISA) has said passwords that use birthdates or street addresses are susceptible to dictionary attacks that attempt to crack passwords based on common words or phrases. • Logging out of apps and websites when finished. It is unrealistic to expect that youth campers will remember to log themselves off, so their supervisors should be checking. • Finding a security vendor. There are many companies that offer data protection technologies. • Developing a written policy. The Risks of Summer Camps, Youth Programs, and the Claims That Come With Them By Tracy Schmeltzer, AIS, AINS Tracy Schmeltzer is assistant vice president, camps, agency and groups at Church Mutual. corporatecommunications@churchmutual.com RISKTHECLM.ORG/MAGAZINE CLM MAGAZINE 15 Camps’ policies regarding cybersecurity should detail who has access to the network, when someone has access, who will be supervising campers and attendees while they are online, and how the rules are enforced. • Conducting criminal background checks. Camps should perform thorough background checks on every person who works with their organizations, both staff members and volunteers. CLIMATE RISKS Climate change has led to more catastrophes. If it feels like we are seeing more news reports about wildfires, hurricanes, and other natural disasters, that is because we are. We continue to see claims related to those types of disasters as well as hail in certain parts of the country. The implications for camps are obvious: Any organization that runs most of its programs outdoors needs to be prepared for worst-case scenarios, have an evacuation plan, and review what specific catastrophe-related coverages would be appropriate. MENTAL HEALTH AND PHYSICAL INJURIES More camps are bringing on staff and volunteers to manage a growing mental-health crisis among campers. Those who run camps are expressing frustration about how difficult these first few weeks of camp have been. We have heard about staff members feeling harassed or undermined by campers. As a result, some camps are bringing on social workers, therapists, and psychologists—all of whom play an important role in the emotional health of campers and staff, but who also may create additional liability for the camp. Camps should be looking at their insurance policies to make sure they are covered for such additions. In the case of a claim, camps should have a designated person to work with carrier claims professionals, providing any necessary information. Sports-related injuries also continue to increase. Fortunately, organizations that offer recreational activities are much more cognizant of how devastating a concussion can be. Unfortunately, that does not stop concussions from occurring. Concussions can happen to anyone and at any time—from a camper who is playing a game of Capture the Flag to a child who collides with a person or object while running from one cabin to another. Camps should ensure they have appropriate medical coverage for their participants. SEXUAL ABUSE We have seen claims relating to sexual abuse accusations at camps and outdoor recreation programs, and those claims can be either adult-child abuse or child-child abuse. Camps are responsible for screening, training, and performing a criminal background check on both staff members and volunteers before allowing them to have contact with children. But there are plenty of sexual abuse incidents that are not criminally prosecuted, which means that a criminal background check should not be camps’ only method of screening candidates. They should take other steps, including: • Asking open-ended questions on the application to give insights into the person’s character. • Asking each applicant to list two or three references on the application. • Interviewing candidates with questions to help understand their defining traits and why they want to work at the camp. • Offering a thorough training program before staff members or volunteers start performing any duties. Finally, camps should regularly check and update their property value. Just as many homeowners are learning their properties are worth much more than they expected, so, too, are camps. Building material costs have increased due to inflation, so a property could be worth significantly more than what it was originally insured for. If a camp were to submit a claim, it could be underinsured. Managing risk and claims is a constant process. Understanding the risks facing summer camps and youth programs now is a key step in preventing and managing claims later. K Insurance Expert Consultant/Witness CONTACT: charles.ehrlich@gmail.com // 603-387-3051 • EXPERIENCE: Senior VP Claims and General Counsel • EXPERTISE: Claims handling, coverage, good/bad faith, litigation management, acquisitions, and company management • COVERAGES: CGL, Professional Liability, Directors & Officers, Environmental, and Specialty. insurancexpertwitness.com16 CLM MAGAZINE JULY / AUGUST 2023 WHAT IS THE BIGGEST ISSUE OR TREND FACING WORKERS’ COMPENSATION CLAIMS DEPARTMENTS IN 2023? KEVIN GUNDERSON, HELMSMAN MANAGEMENT SERVICES: For years we talked about rising medical costs, and how inflation trends have put a new pressure on medical costs in recent times. An issue that is proving to be just as impactful as rising medical costs is managing insurance programs in a time of continued staffing pressures. The administration of claims handling requires talented, engaged, empathetic, critically thinking, and solutions-oriented adjusters; maintaining that level of care and administrative oversight is putting pressure on the entire industry. Helmsman has taken considerable steps to develop a culture of stability and we are seeing favorable trends in our staffing as a result. VIVEK RAO, FOUNDATION AI: Workers’ compensation departments are experiencing significant resource depletion due to manual processing of an ever-increasing volume of documents, inbound emails, and attachments. Valuable staff time and financial resources are being consumed by inefficient, inaccurate, and labor- intensive document processes. Moreover, claims departments are unable to fully leverage the critical data contained within these documents, as very little of it is captured in a reusable format. Furthermore, the mounting burden of mundane document processing tasks hinders claims organizations from allocating their employees to value-adding work, exacerbating the persistent retention and staffing challenges many organizations face, and impairing their ability to focus on continuous improvement efforts. To address these issues, workers’ compensation claims departments must embrace technology that drives efficiency, reduces costs, optimizes data utilization, and empowers their staff to create tangible value for the organization. INFLATION IS RISING EVERYWHERE, AND MEDICAL CARE COSTS ARE NO EXCEPTION. WHAT KIND OF STRAIN IS THIS CAUSING ON THE SYSTEM? KEVIN GUNDERSON, HELMSMAN MANAGEMENT SERVICES: There are two strains on the system. One is the cost of medical care, and the other is the staffing dynamics in healthcare. Helmsman focuses our efforts on items that will improve claims outcomes, which in turn improves the overall claim costs. This starts with getting the right care in a timely fashion. By focusing on the right care and using our available data and resources we can help shorten the recovery time for the injured employee. For example, soft tissue injuries benefit from limiting surgical intervention; this can help reduce costs by avoiding unnecessary surgeries and shortening the recovery time for the injured worker. Helmsman leverages curated PPO networks (including Outcome Based Networks) to help ensure the employee is receiving timely, high-quality care that is focused on a healthy return to work. Likewise, by knowing what medical interventions are most effective we can help fast track those treatments, again leading to a timely return to work, benefiting the employee and employer. WHAT KINDS OF TECHNOLOGY ARE HAVING THE BIGGEST IMPACT ON WORKERS’ COMPENSATION CLAIMS? IF YOU COULD “DISRUPT” THE WORKERS’ COMPENSATION INDUSTRY, WHAT WOULD YOU FOCUS ON, AND WHAT WOULD IT LOOK LIKE? VIVEK RAO, FOUNDATION AI: In the workers’ compensation claims realm, a wide array of technologies exists to boost efficiency, accuracy, and the customer experience while reducing costs and improving overall outcomes. Artificial intelligence (AI) and machine learning, robotic process automation (RPA), data analytics and predictive modeling, self-service portals, and telemedicine and remote healthcare are among the impactful solutions available today. To disrupt the status quo, Foundation AI has developed a practical technology solution that drives significant improvements and efficiencies while balancing against the industry’s hesitance towards embracing radical change. Recognizing that the day-to- day workload of workers’ comp claims is WHAT ARE THE LATEST TRENDS FACING CLAIMS DEPARTMENTS? WHAT TECHNOLOGY IS HAVING THE BIGGEST IMPACT ON WORKERS’ COMP CLAIMS? AND FINALLY, WHAT ARE CARRIERS AND LAW FIRMS DOING TO ATTRACT AND RETAIN TALENT? LEADING OUT LOUD WORKERS’ COMPENSATION SPONSORED CONTENTTHECLM.ORG/MAGAZINE CLM MAGAZINE 17 unlikely to ease up and that additional staff may not be readily available, the key lies in providing a technology solution that addresses identified pain points and inefficiencies, fixes broken and labor-intensive processes, and delivers meaningful, measurable results without causing upheaval. To achieve this, the solution(s) should seamlessly integrate into the department’s existing technology stack and require minimal effort to implement. Additionally, it should offer a short learning curve and a more efficient workflow for the team, ensuring smooth adoption and usage. By meeting these criteria, the solution can effectively address the challenges faced by claims teams and help them navigate their workloads more efficiently. KEVIN GUNDERSON, HELMSMAN MANAGEMENT SERVICES: Our focus is on having every adjuster spend their time adding value to the outcome of a claim. This requires active and empathetic listening, critical thinking, applying medical expertise, and managing the trajectory of the claim. Helmsman is using advanced analytics, predictive modeling, and AI to provide more insights to our adjusters and to reduce administrative time so that they have more time to focus on the needs of the specific claim. ACROSS THE INDUSTRY FOR INSURERS AND LAW FIRMS ALIKE, FINDING AND RETAINING TOP TALENT IS BECOMING MORE AND MORE DIFFICULT. WHAT ARE YOU DOING TO KEEP HARD-TO-FIND TALENT AND FOCUS THEM ON VALUE-CREATING TASKS? KEVIN GUNDERSON, HELMSMAN MANAGEMENT SERVICES: Helmsman continues to invest in our talent and technology to build an engaged, high-performance culture of stability. Providing claims professionals with opportunities for personal and professional growth, the tools for success from industry-leading training to sophisticated predictive models that get the right professional on each claim is key to retaining top talent. Onboarding and training new hires in cohorts, allowing for flexible work arrangements, dedicated training support throughout careers, and tools for continuous professional growth also help reinforce a culture of stability. VIVEK RAO, FOUNDATION AI: One of the key benefits of the Foundation AI solution is that it solves many of the staffing challenges facing not only workers’ compensation claims teams, but also the defense firms they partner with. The most significant benefit is removing the labor-intensive and manual nature of processing inbound documents, emails and attachments. Let’s face it, you didn’t hire your staff to spend dozens of hours a week processing mail, opening emails and downloading attachments, and figuring out what they are, who should get them, and how urgent they are. And trust me, your staff doesn’t enjoy doing that either. If you’re going to keep your people, you need to challenge them and let them grow and contribute in a meaningful way to the organization. For new people, you want to enable them with technology that allows them to do their job quickly, accurately, and efficiently. A happy, productive, and challenged staff is one that wants to stay and grow with your organization. The other benefit we’re seeing is that providing process consistency really helps to build a stronger, more effective staff. If every document, email, form, and attachment that comes into the department is processed the same way, every time, you’re not wasting cycles fixing errors, training and retraining staff, tracking down lost documents, and missing critical dates. You’re freeing your people up to do what makes sense for your department. Achieving this level of streamlined operations may seem idealistic, but it really is possible when you harness technology that is specifically built to solve these types of challenges. K SPONSORED CONTENT KEVIN GUNDERSON is vice president & manager, WC Examining, at Helmsman Management Services. kevin.gunderson@helmsmantpa.com VIVEK RAO is chief executive officer of Foundation AI. vivek@foundationai.comNext >