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Compliance with workers’ compensation regulations has become a huge headache for many insurance companies, employers, and claims administrators. Keeping up with mandates is complex, especially since the requirements constantly change. It demands extensive time from staff to understand the intricate rules and to continually keep pace with updates. In addition, it’s costly to build your own systems and process to achieve and maintain an effective and ongoing compliance strategy. The stakes are high with steep fines and penalties for non-compliance. These fees are driving organizations to look for technology solutions that can help automate and streamline a significant portion of their compliance effort. This white paper provides an overview of some of today’s key compliance challenges and how some organizations are overcoming these issues with technology solutions that automate mandated reporting and reduce compliance costs.
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