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Market Segments |
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Corporate Risk
Management |
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To be effective, Risk
Managers must gather and analyze large amounts of data from insurers, third
party administrators, and internal systems. A comprehensive overview of an
organization’s overall risk exposure is essential for establishing effective
loss control measures, and for being prepared to face and respond to regular
and unexpected risks. True preparedness also depends on the ability to
effectively communicate, collaborate, and share information about all kinds of
risk exposures and events throughout an extended enterprise.
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STARS combines
organization's risk data into a single database of claims, transactions,
policies and exposures with powerful reporting capabilities to help Risk
Managers clearly identify cost drivers. STARS provides timely, accurate
information to enable implementation of effective loss control procedures to
reduce the frequency and severity of incidents, and to substantially decrease
an organization's insurance costs.
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STARS delivers solutions
that assist Risk Managers in the following areas:
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Claims Administration: With full support for clients who self-administer
claims, STARS enables management of all aspects of a claim, including setting
up reserves, making payments, preparing checks, case management, and reporting.
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Risk Event Management: STARS delivers workflow tools for managing and
monitoring all risk-related events--such as financial, legal, operational,
security, health and safety--across an organization. STARS also provides
enterprise-wide reporting.
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Risk Management: STARS facilitates the collection, consolidation, and
enhancement of risk information to improve risk management analysis and
decision-making, so organizations can effectively manage their total cost of
risk.
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Matter Management and Legal Management: STARS provides functionality for
managing any type of legal matter, from discovery to final settlement. Clients
can manage all aspects of the matter, including setting budgets, making
payments, managing workflow, case management and reporting.
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Mass Tort Administration: STARS delivers software and services for managing the
data administration process for mass tort actions from the initial lawsuit, to
the costs incurred through settlement as they are distributed to plaintiffs, to
the recovery of distributed settlements from carriers.
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