Top 9 Certifications for Risk Management Professionals

So, you’re officially working in the industry. Now what? We collaborated with our friends at CEU Institute to learn more about continuing education and how to become well versed in your profession. Some roles require a professional license – such as adjuster, agent, attorney, or accountant. From there, it’s up to each professional to continue and advance their niche with specialty certifications, which are most common to those in insurance, legal, and risk professionals. According to CEU Institute founder Michael Benner, “These certifications identify the holder as having additional expertise, roles, or functions within the specialty and generally obtained once the holder has gained some experience or has identified a specialty they seek to pursue.” Some of the most notable…


Jackelyn Ho

Understanding Continuing Education Credits and Specialty Certifications for Risk Professionals in the Insurance, Legal, and Finance Industries

As they say, even teachers need teachers, too. No matter how expert or well versed we are in any subject matter, it’s important to keep growing. Whether it’s learning about new trends in your industry or exploring the same topics in a new light, there’s never a better time to advance your education than now. In 2002, the CEU Institute was founded by Michael & Jill Benner in an effort to help insurance carriers and vendor/service providers deliver, manage, and administer their continuing education requirements and internal training programs. The niche focus started in the insurance and healthcare industries but has since expanded to the legal and financial industries. The CEU Institute can administer multi-state, multi-license type credit for live…


Jackelyn Ho

5 Ways To Know If Your Company Needs Legal Spend Management

When strung together, legal spend management can sound daunting and intimidating. To break it down, it’s the simple act of managing your company’s legal budget. Legal spend management has been around as long as litigation has (so, forever), but it’s now being recognized as a necessary solution for companies with a lot of litigated claim files on hand. What is Legal Spend Management? Legal spend management, litigation cost management, cost containment, or claims management, is keeping track of and understanding all cost data surrounding a company’s legal matters. For a large corporation who may see many litigated claims, it’s important to know both micro and macro data, including but not limited to: Which lawyers are on the case The current…


Jackelyn Ho

How To Turn Your Hobby Into A Business

With the rise in DIY projects over the years–and outlets for the resulting products, such as Etsy and Redbubble–it’s no wonder that so many people are turning to their hobbies when they want to start a new business. Making money by doing something you love has never been easier, but there are some important things to consider before you get started. The first thing you need to think about is whether there’s a market for your hobby; can you turn it into a full-time career, or would it work better as a part-time money maker? This is going to take a bit of research on your part. You’ll also need to think about whether or not you have the energy…


Jason Lewis

Top Workers’ Compensation Issues in 2018

As we transition from 2017 and usher in the New Year, there have been several milestones in workers’ compensation that PRIUM has been monitoring as these issues continue to have an impact on the opioid epidemic, overall medication safety, and our ability to achieve a more balanced biopsychosocial approach in treating injured workers. These are the top workers’ compensation issues that may have continued impact in 2018: A big trend in workers’ compensation has been the design and implementation of drug formularies. Tennessee started its formulary on Aug. 28, 2016 for new claims, and initiated guidelines for legacy claims on Feb. 28, 2017. This state is accruing experience and outcomes data, which will serve to assist and inform the rest…


Mark Pew

Why Transparency Matters in a Cost Management or Bill Review Company

We get it – bill review companies get a bad rap. This post comes in response to Joseph Paduda’s latest blog write up on Uncomfortable Truths at this year’s NWCDC, a piece that highlights the missing transparency between TPAs and employers, which further decreases the quality of managed care. It’s a very well written post and it details that companies only care about two numbers: how much each processed claim costs and how much money they are ultimately saving. When it comes to cost management, they want the first number to be low and the second number to be high. Paduda says issues arise when there is non-transparency between a TPA and their clients about what bill review vendors actually…


Jackelyn Ho

Does Your Company Need Litigation Cost Management?

The insurance industry is filled with so many niche solutions and products these days – how do you know which one is for you? Litigation cost management has been around as long as litigation has (so, forever), but it’s now being recognized as a necessary solution for companies with a lot of litigated claim files on hand. What is Litigation Cost Management? Litigation cost management, legal spend management, cost containment, or claims management, is keeping track of and understanding all cost data surrounding a company’s legal matters. For a large corporation who may see many litigated claims, it’s important to know both micro and macro data, including but not limited to: Which lawyers are on the case The current case…


Jackelyn Ho

13 Digital Insurance Buzzwords You Need to Know

Digital insurance is all the rage these days and it’s evident in the way that companies are flipping an age-old industry on its back. The push stems from customers, internal operations, and unavoidable technological progression, and it’s pretty exciting to see how it will all evolve. With so many new products launching and re-launching in the market, we thought it’d make sense to break down the essential jargon. The next time someone gushes on how their company is building the latest and greatest, you’ll be right on top of the conversation with them. Thank you to our good friends at WeGoLook, the Uber of inspections providing on-demand field services, for helping us perfect this list. They’re leaders in the digital…


Jackelyn Ho

How to Launch a Business You’ll Love From Top to Bottom (Line)

What does the ideal day as an entrepreneur look like to you? For some people, it means taking business calls from the beach with a Mai Tai in your hand (topped off with a tiny umbrella, of course). For others, it means leading yoga retreats in exotic locations, while teaching your students to find inner stillness so you can help them transform their lives – and the world. Whether you prefer to work from bed in your pajamas (or yoga pants) or from Starbucks with a tall pumpkin spice latte, your dream of running your own business is definitely within your grasp. It just takes some time, effort, and proactive planning on your part. Know The Way Out Start with…


Jackelyn Ho

5 Tips To Create An Eco-Friendly Workplace

As a proud advocate at my firm to have greener operations, I really enjoy learning about different ways to make the office more friendly to the environment, and it’s an area where some relatively small changes can go a long way. It’s important to generate interest and enthusiasm in the office about green issues. People usually want to help the environment, but the trick is to find strategies that compliment your business. Having a green workplace is part of our firm culture and we all take pride in doing our part for the environment. Here are my top tips to getting your office to a greener place: Buy recycled content office supplies (we purchase 100% post-consumer paper). We have a near-paperless office,…


Jackelyn Ho

One Crucial Way Aviation Safety Could Help Advance Health Care Programming

Air travel and healthcare have operational parallels, but the key difference for air safety lies in its well-researched top-notch policies and procedures. How can we bring healthcare up to speed? Let’s talk. What does it mean to fly? Air travel is a part of daily business life for many around the world. The concept of being able to travel from Atlanta to Los Angeles in under five hours was inconceivable 100 years ago, and even just 50 years ago it was reserved for only the wealthy. Now, air travel is so commonplace, the prospect of being in a pressurized cabin at 35,000 feet and cruising 500 mph is not scary to business people and mothers with children alike. Why? Because of…


Mark Pew

Where Does Technology Stand in the Legal World?

Here’s a question to ponder: how is the legal industry doing? As a profession that’s deep rooted in history and age-old text, it may feel like innovation is scarce. Thankfully, we don’t have to wonder anymore — there’s data for that. Altman Weil, a legal management consulting service, recently released their annual Chief Legal Officer Survey. It’s an in-depth survey that connects with high-level leaders and lawyers of in-house legal departments for a better understanding of their organization’s state of affairs. The survey touched on many different aspects of operations, including cost control, efficiency, technology, data analytics, staffing, and budgeting. Since our company is focused on litigation cost management through state-of-the-art software, you can guess what we zeroed in on….


Jackelyn Ho