Whether you are a risk manager, physician, attorney, claims manager, payer, or service provider, the evolution of technology modernization in workers' compensation affects everyone. Now is the time to invest in technology tools, data science and other tech specialists to drive your business forward, avoid repetitive duplicative tasks and allow your experts to focus their attention on meaningful work.

The latest "Out Front Ideas with Kimberly and Mark" webinar included expert guests discussing what is happening now and what they envision for the future, including digital solutions that expedite policy verification, eligibility, claims intake and reporting, document validation, rules-based decisions, and automation of straightforward, low-dollar claims. Our guests included:

• Vincent Foderingham, CEO of Partners Risk Strategies.
• Julie Layton, risk management segment leader, Marsh.
•  Scott Rogers, chief client officer for Sedgwick.

Process impedes progress

As technology rolls out faster than ever, workers' compensation remains one of the slowest adopters, but why? Considering how long ago the industry began, it is important to acknowledge it was born out of a process and continues to be rooted in tradition. The longevity of this industry bears a legacy claims system with a large volume of data, and any changes made will be costly and challenging. Carriers who are publically traded may need to focus more on their profitability as their shareholders may be more concerned with reducing present costs rather than how major technology investments will provide cost savings five years from now.