Innovative Business Consulting Model Enhances Development of Strategies to Lower Total Loss Costs
PHILADELPHIA – April 16, 2008 – ESIS, Inc., (“ESIS®”) a risk management services company owned by the ACE Group of Companies, today announced the development of a comprehensive model to better analyze a client’s risk management program and create strategies that impact claims outcomes. ESIS Analytics in ActionSM combines a unique blend of talent and business expertise to connect data and the root cause of a wide range of risk management cost drivers. Beginning with a retrospective analysis of workers compensation and liability programs, ESIS Analytics in Action builds an assessment of historical health and identification of specific opportunities for improvement. A review of this assessment in collaboration with the client’s risk management team and appropriate specialists within ESIS leads to the development of a continual program improvement plan and a custom scorecard used to assess progress of the embraced initiatives.
This announcement comes as ESIS prepares to participate in the upcoming 2008 Risk & Insurance Management Society (RIMS) Annual Conference® & Expo in San Diego, Calif., which brings together risk management professionals from all industries and showcases innovative and unique aspects of cutting-edge risk management initiatives.
“Recognizing that clients need more information and greater control over their risk management programs, ESIS’ approach blends client and industry data with personal knowledge of each client’s program goals and objectives,” said Michael Hoberman, Senior Vice President, ESIS Client Services and Business Development. “Through identification of specific drivers of loss and cost, we can better pinpoint opportunities to reduce claim frequency and positively impact our clients’ bottom line. Our approach is both a philosophy and a methodology—working together to help meet the needs and expectations of clients in both the short and the long term.”
“ESIS believes in collaboration with our clients. By working together, we believe we can drive continual program improvement to help clients reduce claim frequency, improve closure rates, and lower their total cost of loss,” said Joel Raedeke, Assistant Vice President of ESIS Strategic Outcomes team. “Making valid comparisons is a key to our success and a reliable way to identify beneficial and adverse trends. ESIS’ analysts use this data to isolate patterns, develop theories about their cause, and interview adjusters, brokers, nurses, account managers and risk managers to gather information and verify or modify our findings. Then, we use this information to develop recommendations that risk managers and brokers can use to structure a formal plan to address adverse claims trends on behalf of the client.”
Specifically, ESIS’ methodology is designed to:
- Develop targeted strategies
- Refine specific business processes
- Effect change
- Measure success
- Drive total quality improvements
For more information about the ESIS suite of products and services, please visit www.esis.com.
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Organized in 1953, ESIS, Inc. (ESIS) provides sophisticated risk management services designed to help reduce our clients’ total cost of loss. ESIS takes a holistic approach that blends people, process and technology to offer programs that are customized to meet each client’s needs. ESIS is part of ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE). ACE USA is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information about ACE USA and its products and services can be found at www.ace-ina.com. Additional information about ESIS, Inc. and its products and services can be found at www.esis.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.