Unit Statistical Report Builder

Farragut assists in bridging the gap between the insurance carrier tools to the data collection organization tools. These tools can eliminate manual keying to streamline the process.

Farragut has developed an innovative Unit Statistical Report Builder (USR Builder) to assist workers’ compensation insurance carriers with their annual unit statistical reporting to data collection organizations. By providing a link to underlying claim systems, the Unit Statistical Report Builder tool assists with creating and submitting unit statistical reports to independent bureaus without keying claim data. This tool provides benefits to both the insurance carrier and the data collection organization.

Benefits of Unit Statistical Report Builder

Improves data quality by eliminating manual claim keying
Reduces costs by saving staff time in reducing or eliminating corrections to USRs
Provides faster reporting
Improves recording of USRs by quickly identifying open claims for future submission
Manages the USR data reporting obligations for the entire life cycle of claims

Farragut Has Helped Carriers Ease the Burden of USR Reporting

Carriers have struggled with the manual unit statistical reporting process. Significant manual effort can be required in fusing a policy’s exposure data stored in one system with related loss data stored in a separate claims system. Often data is keyed into spreadsheets manually before submitting the unit statistical report to the independent bureaus. This is a time-consuming process prone to errors.

The USR Builder provides functionality to search, view and create corrections and subsequent USRs with the click of a button.

How the Tool Can Assist

The tool helps carriers speed up the reporting process and provide high quality unit reports. Files are properly formatted. The innovation has assisted in that no claim data requires rekeying. It also allows files to be established for the subsequent years, again with no rekeying.