1 minute read
Current Challenges
Current solutions tend to focus on individual parts of the end-to-end process and are not joined up - the impact of this is inefficiencies in processing accident reporting/ claims management resulting in increased costs. A by product of this is that data is held in numerous places and analysis is difficult. As such, organizations are unable to easily assess the data to help them to prevent incidents and accidents. Incident management, whether that be 'accident' injury/near-miss' is an issue for every Organization- one governed by many laws and regulations - it's a headache for many.
The problem with traditional paper-based solutions
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» They're Expensive
With the amount of paperwork and manpower required, they lead to high administrative costs.
» They're Messy
Impact on productivity whilst manually tracking paper/ reports etc. from several departments, authorities, and sources, increasing the risk of human error.
» Higher Claim Settlements
Claims are often settled at a higher cost due to the lack of available supporting documentation to defend the claim
» Increase Insurance Premiums
Increased risk within the business due to 'uninsured' liabilities (where insurance is unavailable or prohibitively too costly)
» Damaging to Company Reputation
Higher claims and providing negative feedback in Audit Reports / Risk Assessments can have a detrimental effect on company reputation / valuation