COST MANAGEMENT
04
Effective cost control is the cornerstone of successful
claims management and, in order to do this, you need
excellent, real-time data at your disposal.
Gathering the right kind of data will allow you to
discover anomalies, trends or unusual patterns of
behaviour.
Knowing this can empower you to take measures and
change behaviour in order to mitigate the severity of a
claim or reduce the frequency.
For instance, if you're noticing that one of your sites
is recording slips and trips incidents that are well
above your average, you may want to investigate what's
causing the anomaly. Some issues are fixed more
quickly than you'd think, for example, by tiling or putting
up warning signs in wet weather conditions.
