The 40th largest Life Insurance Company in America
with over $40 billion in assets
After re-entering the group disability space in 2011 and building out of their Benefits staff, management found that not enough focus was being given to Return-to-Work (RTW) outcomes, which negatively impacted their benefit payouts. The Insurer was interested in implementing an automated RTW solution which provided more robust RTW outcome options for the benefit specialists.
The client began using FastTrack’s Transitional Services Tools (TST) in 2014 with the objective of identifying more objective, consistent and repeatable RTW opportunities (accommodations, transitional work assignments and additional medical management).
• 38% of STD claims produced RTW opportunities (accommodations, transitional work assignments and additional medical management)
• 48% of Total LTD Disability Life Reserves established at the end of the STD benefit period were returned to earnings because the claim never transitioned from STD to LTD status due to RTW outcomes
• The Insurer is experiencing a return of $26.52 for every $1.00 invested in TST