Risk Mitigation
Reduce risk. Increase efficiency.
PrismHR Risk Mitigation helps you reduce your risk, improve accuracy, and add efficiency across a number of complex processes, including workers’ compensation claim tracking, certificates of insurance, policy management, and EPLI claims. And with customized financial reports, you get the insight you need to assess risk across your portfolio and inform rate adjustments when renewing policies.
Risk Mitigation extends the functionality of PrismHR ClientSpace, a central place where your team can see everything going on with your prospects and clients.
Workers’ Compensation Claim Tracking
Improve the accuracy of claim tracking by collecting all the details and supporting materials for each claim in one centralized location.
Improve Data Accuracy
Enter information directly into the system, including claimant information, treatment and doctor visits, return to work details, images and documents.
Manage Complex Cases
Manage the details of complex indemnity-related scenarios, such as when an employee leaves and returns to work multiple times, is assigned to light duty, and/or participates in an alternative return-to-work program.
Avoid Delays and Errors
Review which claims are open and build workflows to avoid delays and missteps that can negatively impact your experience modification rate.
Certificates of Insurance
Save time re-issuing certificates when renewing a policy with a simple two-click process.
Improve Efficiency
Add efficiency by issuing new certificates directly to your clients and automatically cancel outdated versions.
Streamline Approvals
Manage multiple certificate types and language requirements with a flexible document format that can import pre-approved templates, eliminating the need for your agent to review and approve each certificate.
Create Client Reports
Quickly generate a report of active certificates to send to a client or filter the dashboard to view a list by client.
Policy Management & Reporting
Reduce the complexity of managing and renewing all your master, MCP and client policies. With a comprehensive dashboard, it’s simple to stay organized, run reports and view complete policy details.
Automate Policy Renewals
When you renew a policy, all clients and employees on the old policy are automatically switched to the new one.
Determine Coverage Needs
Import rate and loss run files from your carrier to create customized financial reports that will help you forecast rates and provide clients with the correct amount of coverage.
Simplify Report Generation
Easily generate OSHA reports (Forms 300, 300a, 301), first reports of injury, and wage statements.
EPLI Claims
Track your employment practices liability insurance (EPLI) policies, as well as the details and financial data related to claims. Use EPLI data as part of the pricing process to help determine rates for premiums and deductibles—or whether to even renew a client.