What Technology Brings to Workers' Compensation Insurance

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Workers’ compensation insurance ensures that employees are financially protected in the event they sustain injuries on the job. In some places, workers’ compensation insurance is a legal requirement. Employers who do not have it can not only get into a lot of trouble with industry regulators, but also end up facing lawsuits if employees hurt themselves at work. Technology has changed the way workers’ compensation applications and claims are handled, however. If you are an employer who’s interested in taking a policy out, read on to find out more about how technology has changed workers’ comp.
Finding Support
One of the main advantages of technology is that it has made it easier than ever for business owners to find suitable insurance policies. The experts on the website of TruPoint, Inc, say that they can provide comprehensive coverage and peace of mind, which is streamlined by their website. Before the internet, businesses had to use phone books and directories to find insurance companies. They weren’t able to conduct basic web searches, and then read the reviews of businesses to determine their suitability. On that note, read the reviews of your chosen insurer, so you can decide whether they are right for you or not.
Automated Claims
In the past, workers’ comp claims took months to process. This was because everything was done on paper and relied on the USPS. Nowadays, however, claims can be processed online. Not only can they be processed online, but they can be fully automated. Automation streamlines claim processing and makes the lives of claimants and insurance adjusters much easier. As well as automating claims, data entry has been fully automated, so insurance adjusters don’t have to worry about filling out pages and pages of paperwork.
Fraud Detection
Fraud detection has never been easier, either. Unfortunately, it is not uncommon for workers to make fraudulent claims, or to exaggerate the nature of their claims. They usually do this so that they can claim the maximum amount of compensation, which their injuries might not make them eligible for. Fortunately, technology has made it easier than ever for insurance companies to quickly detect instances of fraud. Fraud detection saves insurance companies money and ensures that fraudulent claimants are identified and prosecuted, which benefits businesses because they don’t have to worry about employing criminals or having their insurance premiums increase.
Workplace Injuries
Workplace injuries can cost businesses a lot of money. Technology can be used to minimize workplace injuries. Employees who work in dangerous industries are able to use wearable tech to identify threats and let them know when they are in danger. They can, for example, wear smart helmets, biometric sensors, and devices that track their heart rate, oxygen levels, and even blood pressure. While these tools can be expensive, they prevent workplace injuries or illnesses from occurring and ensure businesses don’t have to worry about their premiums going up because of claims.