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NEW YORK (October 14, 2014) — Proactive claims reporting and management can contribute positively to the ongoing sustainability of an organization in a number of financial and nonfinancial ways – according to RIMS new executive report titled, “Claims Reporting and Management Practices.”  

The reference guide, authored by members of the RIMS Standards and Practices Council, explores the characteristics of a successful claims reporting and management program. Specifically, the 18-page guide reviews the principles of claims management, steps for establishing a claims management program, managing, reporting, monitoring claims and improving the claims management program, as well as integrating claims management into an Enterprise Risk Management program.  Tips on claims management are highlighted in the report.

“Claim reporting may be perceived as reactive, but  risk professionals who have taken proactive steps to develop and implement a structured claims management process will be prepared to fairly and efficiently address a claim. Perhaps more importantly, analyzing trends not only can prevent future incidents, but can also improve operations,” said Yvette Ho Sang, Chair of RIMS Standards & Practices Council.  “In this Executive Report, we aimed to help risk professionals develop com­prehensive and transparent claim reporting programs that tie into their organization’s strategic and operational initiatives.”

Through its Standards and Practices Council, RIMS actively reviews a variety of insurance and risk management practices to educate the Society’s members on  risk management “best-practices” further enabling them to achieve expected organizational objectives with better success.

RIMS Executive Report: Claims Reporting and Management Practices is available in RIMS Risk Knowledge library www.RIMS.org/RiskKnowledge.  The report is free for RIMS members and $29 for non-members.  ​