It’s safe to say that anyone managing workers’ compensation claims under Australia’s WorkCover regulatory mandate knows that it’s complicated.
Each of the eight states in Australia is governed by a specific WorkCover regulatory authority. Businesses that self-insure are accountable to the laws of each state in which they self-insure. Each state-specific WorkCover regulator has its own set of data management formats, field taxonomies, and data validation rules.
Marsh ClearSight has handled over 400,000 claims for 22 customers in Australia, so we understand the complexities very well.
For each state in which they self-insure, WorkCover clients are responsible for entering and maintaining accurate data for claims and financials and exporting that data periodically. If the exported data doesn’t meet the data quality requirements, the export file is rejected. As a result, WorkCover clients need to maintain multiple compliant systems and revise each in response to any rule changes.
An exciting new addition to the Marsh ClearSight’ solution reduces the complexity of managing WorkCover claims. Our new cloud-based WorkCover solution is significantly faster to deploy than custom software and reduces the headaches associated with keeping up with each WorkCover authority’s changing requirements. The new solution includes features specific to each state. Revisions are seamlessly implemented as they arise, without the need for any customization.
And, because it’s part of the Marsh ClearSight Core Platform, the new WorkCover solution integrates directly with the other Marsh ClearSight Claims and Risk Management solutions. As well, by aggregating and analyzing their data, companies will be able to evaluate the effectiveness of their WorkCover programs and compare them to industry benchmarks.
Sure—WorkCover can be complicated, but Marsh ClearSight’ WorkCover solution lets companies spend less time working on their data and more time focusing on how their data can work for them.