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Workers’ comp claims face more complexity even as claim frequency falls
A CorVel executive said claims professionals must process more information from more sources, including rising documentation and behavioral health considerations, to make faster decisions.
Workers’ compensation claim frequency has trended downward over time, but claims professionals still face a tougher job as the complexity of individual claims rises, according to a CorVel white paper highlighted by Risk & Insurance.
The paper says claims teams are expected to manage more information from more sources than ever, citing factors such as more specialized medical care, evolving regulations, expanded provider networks, behavioral health considerations, and increasing documentation requirements.
Risk & Insurance also points to changing risk conditions for insurers, including cybersecurity, noting that cyber attacks have accelerated with the help of artificial intelligence.
In the same material, MSIG USA’s Ryan Kratz said resiliency is now a priority, arguing that preventative controls are not enough on their own because AI has made it harder to fully avoid cyber attacks.