| Benefit Buddy™ Efficiency Software For Claims Professionals |
| SAVINGS AND COST ANALYSIS Have you ever considered the amount of time insurance adjusters spend calculating payments, reserves and settlements? Each day, these tasks take ten to sixty minutes per file. A recent Time & Efficiency Study by a major insurance carrier revealed that 25% of an adjuster’s time was devoted to investigating and managing claims. Another 25% was dedicated to evaluating, reserving and calculating payments. Benefit Buddy reduces the time utilized to evaluate, reserve and calculate payments by 87%. Calculations are instantaneous and accurate. An all-in- one product, Benefit Buddy replaces multiple calendars, the wheel, life expectancy tables, present value slide tables, desk calculators and note pads. Actual Case Study An insurance adjuster received wage earnings and a request for Temporary Partial Disability payments, from 2002 through 2006. The adjuster completed the task the traditional way, manually using multi-step math calculations for each week of earnings. Results were recorded on a note pad. The adjuster completed the task in approximately 5 hours (300 minutes). The Benefit Buddy Temporary Partial Disability Calculator completed the same task in 25 minutes. Additionally, a printout and report were available for the file. Total time saved: 4.5 hours (275 minutes). Conservative Scenario 1: One employee using Benefit Buddy generates an average savings of 13 hours per week: - 13 hours per week x 52 weeks = 676 hours saved per year - 676 hours per year x $25.00 per hour = $16,900.00 (Annual Savings) Conservative Scenario 2: Four employees using Benefit Buddy generates an average savings of 52 hours per week: - 52 hours (6.5 days) per week x 52 weeks = 2,704 hours saved per year - 2,704 hours per year x $25.00 per hour = $67,600.00 (Annual Savings) The analysis above is a conservative estimate. Savings will increase, with consistent use of Benefit Buddy. Copyright © 2004, 2005, 2006, 2007,2008 All Rights Reserved Patent Pending |