Ventiv Technology

55 ©2023 Redhand Advisors. All rights reserved. CorVel, another leader in TPA RMIS category, continues to enhance their Care MC Edge system. CorVel has continued to further develop their WC claims/ managed care functionality to new heights. From a WC perspective, they are the most functional bundled system. Some improvements: • Increased usage of AI technology in their RiskScore for each claim; • Real time claims summaries showing risk levels of each claim; • Auto adjudication of bills with no adjuster involvement; and • Improved graphics. Client feedback was very favorable on the system as has improved every year that we have been following it. Constitution State Services (CSS), the TPA subsidiary of the Travelers, offers e-CARMA as its parent Travelers does. While we received limited feedback from CSS clients, we understand that their clients receive the same level of functionality and service that Travelers' clients receive. Insurers: With only one exception, we did not observe any significant advancements in the insurer space this year. Travelers, e-CARMA system leads the Insurer RMIS offerings. They continue to provide innovations to the product as well as concentrating on the knowledge and skill level of the RMIS team that oversees it with the client base. Some notable improvements: • RMIS University providing improved content and training material; • Enhanced data integration; and • Improved OSHA functionality. Brokers: Brokers' RMIS-like offerings continue to expand. The brokers are offering bundled solutions that support their core offering which is very different than when brokers owned the biggest RMIS products in the market. These features include renewal value collection, benchmarking and analytics. 36% Moder ately Utilized (25 - 50 %) 29% Well Utilized (51-75%) 8% Highly Utilized (>75%) 27% Under Utilized (<25%) RMIS UTILIZATION 67% 58% 46% 32% 30% 25% 23% 21% 16% 9% R E S U LT S A C H I E V E D R E S U LT S A C H I E V E D B E T T E R R E P O R T I N G I M P R O V E D D ATA A C C U R A C Y IMPROVED RISK ANALYSIS & ASSESSMENT IM PROVED COMPLIANCE & RISK MGMT FASTER DECISION MAKING IMPROVED CUSTOMER EXPERIENCE I N C R E A S E D P R O D U C T I V I T Y IMPROVED BUSINESS PROCESSES REDUCED TOTAL COST OF RISK CROSSDEPARTMENT UTILIZATION 26% Moder ately Ef fec tive 39% Ver y Ef fec tive 30% E x tr emely Ef fec tive 1% Not Ef fec tive At All 5% Slightly Ef fec tive RMIS EFFECTIVENESS NOT FOR DISTRIBUTION

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