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.



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Patent Pending