Chubb's new WorkInsight solution enables employers to proactively track and manage workers' compensation; Family Medical Leave Act; company specific leaves; short-term disability; and accident, critical illness and hospital indemnity programs. Chubb WorkInsight gives employers comprehensive data and reports that enable them to make informed and impactful decisions that benefit both employee and employer.
The announcement comes at a time when new concerns around employee safety, absence and productivity weigh heavily for business and human resource leaders. Employee absenteeism and productivity represent critical and increasing priorities for employers. Productivity has been shown to decrease almost 30 percent due to employee absence, with more than 15 percent of payroll costs tied directly to absence. In addition, in 2019 employers paid $510 million to workers as a result of a number of ERISA complaints. According to the Integrated Benefit Institute, more efficient absence oversight and management has been shown to improve outcomes and compliance and deliver a return on investment by up to 15 percent.
"In today's environment, managing absence and workplace benefits is becoming increasingly complex," said Chris Martin, Division President of Chubb North America Accident and Health. "Our new WorkInsight offering is truly a unique approach in the marketplace. Our streamlined solution benefits employers and their employees by offering one partner on one platform all in one place. WorkInsight demonstrates Chubb's ongoing commitment to helping employers reduce cost, mitigate financial risk and, at the same time, provide a state-of-the-art claims experience for employees."
Chubb's new WorkInsight solution is designed to protect businesses, while improving employees' experience. Key benefits include:
- A holistic approach to tracking and managing employee absence across the organization
- A customized approach tailored to an employer's specific needs to drive better efficiency and consistency in managing leaves
- A simplified reporting process that allows employers and employees to report all claims and requests for leave in one place
- Knowledgeable experts to help employers expand programs to incorporate voluntary benefits
- Improved compliance with leave laws
- One source to share eligibility with incumbent life and disability carrier to ensure a streamlined claims experience
- Expected cost savings through coordination of leaves and return to work.
Chubb WorkInsight is powered by ClaimVantage. For more information about Chubb WorkInsight, visit www.chubb.com/workinsight.