Why is this important?
A root cause analysis tool can make the difference between being proactive and reactive. Dealing with problems as they arise is obviously important as that can help minimise the impact of the incident, whether that’s the financial impact or on the disruption to the day-to-day activities. However, if you can stop the incident from occurring again in the future by taking mitigating steps then that’s a real win and ultimately a game-changer for your business and those that work there.
The ultimate root cause analysis tool – ClaimControl
Thorough root cause analysis is what will allow you to make decisions about recommending changes in business process, levels of insurance coverage, spending on additional training or even contributing to future design decisions. However, to be able to do this you first have to have the data and be able to interrogate it, which is often the biggest challenge we hear from people we speak to before they use ClaimControl.
Many organisations will utilise multiple spreadsheets, self-built databases or be ‘making do’ with a system that doesn’t quite suit their needs. This will often mean that they aren’t able to capture all the information they’d like to, or, they’ll have data in multiple places without the systems, knowledge, or resources to truly put it all together and conduct root cause analysis.
The benefits of being able to record whatever you want about an incident, manipulate the data you have, spot trends, and identify key reasons behind why an incident has taken place can positively impact every area of the organisation. As an example, consider motor incidents around a newly established building site. By recording information beyond where, when and what happened, you can capture additional data & factors that will allow you to identify that there is a root cause to the incidents where the site entry is poorly lit and too narrow, for example, enabling changes to be made to not only that site setup but also future sites.
In the last month alone, we’ve had 2 prospects use the phrase “I’m sat on a mountain of data but can’t do what I want with it”. This is exactly where ClaimControl will help. The system can replace existing processes, enrich data by combining multiple sources and be used to record everything from a near-miss, a minor incident, and a full insurance claim.
Where ClaimControl differs from others is that it is setup to meet your needs, using your business terminology and allowing you to provide access to any stakeholder you want, whether that’s an internal employee or an external party such as a loss adjustor, broker, or insurer. All of this, results in a system that works for you. Electronically capturing the data required to begin the initial incident review using a web-based form, allowing notes, pictures, emails, and reports to be saved as evidence alongside the individual incident, and then providing you with rich inbuilt reporting within ClaimControl, as well as the ability to integrate with Business Intelligence tools like Microsoft Power BI and Tableau.
Managing the incident as well as understanding the root cause is where ClaimControl can really add value.