KPI Dashboard Helps Travelers Identify Trends

RISK MANAGEMENT

KPI Dashboard Helps Travelers Identify Trends

Travelers has announced the release of the Key Performance Indicators (KPI) Dashboard, a new feature of the carrier's e-CARMA Risk Management Information System application. The KPI Dashboard allows risk managers to identify claim trends and analyze the quantifiable metrics that will help to lower loss costs.

“The ability to select key performance indicators to track claim trends and instantly monitor and display organizational results provides significant value to customers,” says Matthew Carden, vice president of risk management information systems at Travelers. “They can drill down into the loss data, identify specific problem sites or issues, and use the information to guide risk management strategies.”

As an example, Carden cites an escalating trend in lost-time days is worse in one client's warehouse than in another's. Pinpointing the loss leader helps focus return-to-work initiatives and measure effectiveness.

First piloted in November of last year, the new KPI Dashboard offers risk managers the ability to track loss-performance trends and display the results in up to four accident periods. Highlighting “Company at a Glance” financials, with executive-level monthly snapshots of claim dollars and counts, the dashboard includes 27 metrics and measurements and six customizable graphs, providing a variety of key indicators, including attorney involvement, bill repricing and fee savings, and average lost-time and restricted days.

e-CARMA is the visual front end to Travelers' suite of RMIS products, which have allowed customers to report claims instantly, access documentation anywhere in the claim process, and review key information, such as adjusters' case notes.

The system offers tools with intuitive navigation aimed to enhance the users' analytic capabilities. e-CARMA also offers built-in OSHA reporting and recordkeeping as well as links to risk-control resources.