Insurance Data Services Launches CompMark Benchmarking Tool Developed by JBKnowledge
Database is the Largest Devoted Exclusively to Self-Insured and Deductible Workers’ Compensation Claim Data
Insurance Data Services (IDS) announced the launch of CompMark today. CompMark is the first database devoted exclusively to aggregating self-funded workers’ compensation claim data from multiple Third Party Administrators (TPAs) to provide relevant benchmarking reports. IDS is a data analytic company owned by Safety National Casualty Corporation, the U.S. market leader in excess workers’ compensation.
CompMark, created in conjunction with member TPAs, is an internet-based data analytic tool that houses self-insured retention (SIR) and deductible claim data. Claimant and client identification information is removed before the data is submitted and merged into an independent central warehouse from which members can run reports to compare their claim results to the entire database. CompMark was built and is operated by IDS in partnership with insurance technology firm, JB Knowledge Technologies, Inc…