A Principal news release said that the internet-based reporting is designed to save time and costs for employers by showing more detailed information about disability claims. For example, a customer with multiple locations could use this report to identify a location experiencing a higher claim incidence than other locations.
According to the announcement, the employer would then be able to figure out potential issues at that location and implement wellness or safety programs to alleviate the same problem in the future.
“When we started seeing a need from a few customers for this type of reporting, we realized this reporting model would benefit all of our group disability customers,” said Cindy Ford, claims director, the Principal Financial Group, in the announcement. “Our goal is to provide employers not only with the information necessary to understand their current employee claims, but also with a trend reporting program that might help reduce claims going forward and enable employees to continue working.”
Earlier this year, The Principal added additional years of claim history to give employers a better look at claims trends related to disability