Frequently Asked Questions: FAQ
• AcuComp has a Registered Mark by the U.S. Patent and Trademark Office providing federal pre-emptive rights to its use throughout the United States
• An independent audit performed over a five year period by the Massachusetts Department of Insurance proved that AcuComp® lowers reserves an average of 30% and experience modifiers an average of 27 points, with a corresponding reduction in worker’s compensation premiums.
• AcuComp® is web-based, offering real-time access to worker’s compensation claims information and reports at www.nias-online.com
• The flow of information between AcuComp® and your agency is seamless.
• Members have the ability to prove exactly what is being done for the client. They are able to show the insured their actual worker’s compensation claim premium savings.
• Members find that they are able to begin generating revenue, more and faster, and in a much shorter timeframe than ever before.
• Making this system available to you also helps attract new salespeople to your firm. When they see and understand it, producers will want to use it, because their current agency doesn’t have access to it.
• The package of differentiators cost is determined by you, depending upon your specific needs.
• No. Information relating to improprieties relative to an insured’s worker’s compensation premium promulgation is your property. You decide what action is necessary, if any. We are not a contingency firm and believe that the insured’s savings belong to them.
• Only insurance carriers are empowered to file unit statistical plan corrections with the appropriate rating bureaus, which may lower experience modifiers. Carriers report to the rating bureaus in their jurisdiction, but the rating bureaus themselves are powerless to make changes to the experience modifier unless errors are reported to them by the carrier.
• Yes, however, the entire process is exceptionally labor intensive and cost prohibitive. Once there is an understanding of the amount of staffing, training, office space, data organization and system software to make it work effectively, most businesses choose to “outsource” as a simple matter of economics. The return on investment is enormous, especially when the system is utilized correctly and to its fullest extent.
• No. “Contingency” firms look for experience modification mistakes retroactively and then split the savings. AcuComp® is both retrospective and prospective, which results in a permanent drop in an experience modification averaging 27 points over time. As long as an insured remains with the program, experience modifiers will stay at their lowest possible point.
• Insurance company claims adjusters must set reserves for ultimate settlement as opposed to what can be supported by claim file documents at unit statistical plan filing time.
• Additionally, adjusters do not have policy expiration dates and thus are not mindful of unit statistical filing dates and rating periods.
• Results of our current client base, together with your own Cumulative Activity Report, which will show the change in modifiers for your agency clients
• Our Registered Mark with the US Patent & Trademark Office at www.uspto.gov and also posted at the top of our Home Page, simply click the USPTO seal
• Results of the five-year audit performed by the Massachusetts Department of Insurance • “Skeptics” are also welcome to speak with current AcuComp users for a reference
Presently, NIAS, Inc. is the sole nationwide provider of a turnkey data system that has been validated by a state insurance department to permanently lower experience modifiers averaging 27 points.
Contact NIAS, Inc.
Firm: NIAS, Inc.
5730 Corporate Way, Suite 230
Toll Free: 800-883-5600
Your privacy is important to us and we will not share your personal information with any third party.
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