EVOLVING MARKETPLACE
TOTAL COST OF RISK
OPTIMAL OUTCOMES
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Evolving Marketplace

Evolving Marketplace

Our customers tell us that their number one concern is the continuing rise in medical costs. Is this a concern of yours? 

Our customers tell us that their number one concern is the 

continuing rise in medical costs. Is this a concern of yours?

25%
59%
Medical cost Inflation
21%
56%
Increasing employee benefit costs
19%
54%
Cyber, computer, technology risks/data breaches
15%
51%
Legal liability, including risks of being sued
Our customers tell us that their number one concern is the continuing rise in medical costs. Is this a concern of yours? 

Our customers tell us that their number one concern is the 

continuing rise in medical costs. Is this a concern of yours?

25%
59%
Medical cost Inflation
21%
56%
Increasing employee benefit costs
19%
54%
Cyber, computer, technology risks/data breaches
15%
51%
Legal liability, including risks of being sued

And this is expected

to continue to rise.

There is a strong

correlation between using

enhanced injured employee

engagement tools and

optimal claims outcomes.

The medical landscape 

has changed significantly 

over the last decade. 

Chronic pain claims have

become more prevalent and 

opioid prescription drug usage

has increased significantly.

Managing Your Total Cost of Risk 

Evolving claim and risk control medical management capabilities to help control your total cost of risk

Managing Your Total

Cost of Risk 

Evolving claim and risk control medical management capabilities to help control your total cost of risk

TravComp® Digital Tools 

for a modern workforce

Travelers Medical Advantage® 

can help control the rising cost of medical

Travelers

Medical Advantage®

can help control the

rising cost of medical

TRAVELERS MEDICAL ADVANTAGE®

• Innovation    • Expertise    • Data analytics and Digital    • Prevention

Travelers has been focused on medical cost management for the last two decades. Travelers Medical Advantage is the depth and breadth of medical management capabilities we offer throughout all of our casualty lines, and the advantages these capabilities afford our mutual customers in the management of their casualty programs and their total cost of risk. We believe, given the current and future environment facing us and our customers, having this medical advantage is more important than ever.

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TRAVELERS MEDICAL

ADVANTAGE®

• Innovation    • Expertise
• Data analytics and Digital 
• Prevention
Travelers has been focused on medical cost management for the last two decades. Travelers Medical Advantage is the depth and breadth of medical management capabilities we offer throughout all of our casualty lines, and the advantages these capabilities afford our mutual customers in the management of their casualty programs and their total cost of risk. We believe, given the current and future environment facing us and our customers, having this medical advantage is more important than ever.

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ConciergeCLAIM® Nurse

PROVEN RESULTS

ConciergeCLAIM® Nurse

PROVEN RESULTS
reduction in days out of work
reduction in attorney representation
reduction in days to closure
reduction in overall claim costs

Travelers Early Severity Predictor® contributed to:

30%

reduction in the use of opioids

50%

reduced loss costs

25%

reduction in surgeries

10%

fewer lost time days

Travelers Early Severity

Predictor® contributed to:

30%

reduction in the use of opioids

50%

reduced loss costs

25%

reduction in surgeries

10%

fewer lost time days

Travelers Early Severity Predictor®

With our Early Severity Predictor predictive model, we have been able to improve claim outcomes by up to 50 percent on claims that go through our program. Historically, approximately 75 percent of these at-risk injured employees would have had surgery as part of their medical treatment. With our Early Severity Predictor, these surgeries have been reduced by more than 25 percent, thus reducing injured employees’ further exposure to opioids. In addition, the Early Severity Predictor has helped injured employees recover faster and return to work sooner with 10% fewer lost time days, which benefits both the injured employee and our customers. Our Early Severity Predictor model also contributed to a 30 percent reduction in the use of opioids among the more than 500,000 injured U.S. employees it has helped since 2015.

 

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Travelers Early Severity

Predictor®

With our Early Severity Predictor predictive model, we have been able to improve claim outcomes by up to 50 percent on claims that go through our program. Historically, approximately 75 percent of these at-risk injured employees would have had surgery as part of their medical treatment. With our Early Severity Predictor, these surgeries have been reduced by more than 25 percent, thus reducing injured employees’ further exposure to opioids. In addition, the Early Severity Predictor has helped injured employees recover faster and return to work sooner with 10% fewer lost time days, which benefits both the injured employee and our customers. Our Early Severity Predictor model also contributed to a 30 percent reduction in the use of opioids among the more than 500,000 injured U.S. employees it has helped since 2015.

 

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SMART

Our SMART medical bill review

and industry-first comprehensive Ancillary Benefits Management product deliver

$162 million savings, beyond the savings

achieved by standard automated bill review processes.

CULTURAL ADVANTAGE

Travelers Cultural Advantage

enables us to connect

23% reduction in attorney involvement
24% improvement in return-to-work within 30 days over non-Cultural Advantage claims
8% reduction in overall claim costs

SMART

Our SMART medical bill review

and industry-first comprehensive Ancillary Benefits Management product deliver
$162 million savings, beyond the savings achieved by standard automated bill review processes.

CULTURAL ADVANTAGE

Travelers Cultural Advantage

enables us to connect

23% reduction in attorney involvement
24% improvement in return-to-work within 30 days over non-Cultural Advantage claims
8% reduction in overall claim costs

Travelers Workforce Advantage

• Develop and enhance safety culture
• Find and secure the most qualified person
• Educate and prepare employees through onboarding
We feel “Travelers Workforce Advantage” is a holistic and integrated approach to building a safe and healthy workforce to mitigate the impact of rising medical costs and help clients attract and retain talent. It leverages our strong research, data and analytics, and it is linked to the intelligence and capabilities from Travelers Medical Advantage.

Travelers Workforce

Advantage

  • Develop and enhance safety culture
  • Find and secure the most qualified person
  • Educate and prepare employees through onboarding
We feel “Travelers Workforce Advantage” is a holistic and integrated approach to building a safe and healthy workforce to mitigate the impact of rising medical costs and help clients attract and retain talent. It leverages our strong research, data and analytics, and it is linked to the intelligence and capabilities from Travelers Medical Advantage.

Optimal claim outcomes

Optimal claim outcomes

OPTIMAL CLAIM OUTCOMES

OPTIMAL CLAIM

OUTCOMES

Return-to-work

66% of injured employees return to work within 30 days

Medical savings

Average 64 cents saved per every medical dollar billed

Medical network

Approximately 82% medical provider network penetration and 87% pharmacy network penetration

Pharmacy

  • 63% overall cost reduction

  • 6% pharmacy spend vs. 11% for industry – 55% better than the industry

Subrogation

Recovery rates exceed the industry benchmark rates by approximately 18%

Sustained denial

20% WC sustained denials

Workers Comp

combined ratio

Average 11 points lower than industry over past 5 years

Leading digital

capabilities

Enhanced injured employee experience and engagement through MyTravelers injured empolyee portal

Return-to-work

66% of injured employees return to work within 30 days

Medical savings

Average 64 cents saved per every medical dollar billed

Medical network

Approximately 82% medical provider network penetration and 87% pharmacy network penetration

Pharmacy

  • 63% overall cost reduction

  • 6% pharmacy spend vs. 11% for industry – 55% better than the industry

Subrogation

Recovery rates exceed the industry benchmark rates by approximately 18%

Sustained denial

20% WC sustained denials

Workers Comp combined ratio

Average 11 points lower than industry over past 5 years

Leading digital capabilities

Enhanced injured employee experience and engagement through MyTravelers injured empolyee portal