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Look Before You Leap Into Data Outsourcing

A bad vendor can cause regulatory problems, end up costing insurers more

Fifteen workers’ compensation insurers failed in 2002, and residual market premium growth is outpacing the line as a whole at a two-to-one rate. In this competitive arena, survival for workers’ comp insurers means wringing cost savings and efficiencies from every phase of operations especially in collecting, analyzing, reporting and storing data.

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