by Kory Wells with Nick Cunningham
As the year draws to a close and “best of 2009″ lists permeate the media – best films, songs, books, news stories, and so forth – we’ve decided to make our own contribution with a list of the best new features in our ModMaster software that calculates the workers compensation experience modification rate.
There's a long list of ModMaster enhancements we've implemented this year. Here are some of the best!
We’ve based this list on both our web stats, which give some indication of our most popular features, and on the comments of our tech support staff who talk to and email with ModMaster users every day. Our staff asked to include a few features that were actually introduced in 2008 based on some of our more frequent questions, such as, “What’s the loss limit in my state?”
For the record, we distributed 13 updates to ModMaster this year. All 13 included new expected loss rates and other data from NCCI or other bureaus as it became available, and five of those updates also included software enhancements – from things as minor as expanding the width report fields to accommodate larger estimated premiums to several all-new reports. Of course we mention each of these new features in our update documentation as they are released, but we know you sometimes get busy and might’ve missed one or two. So, without further ado, and working our way to #1, here are the top 10 new features you simply MUST know are available in ModMaster.
10. Enhancements to the Aggregate Loss Sensitivity report
We’ve tweaked the mathematical rounding behind this report so that the premium estimates – which can get very large in some cases – are more consistent from one analysis point to the next. We’ve also added new fields to the report to show the aggregate loss amount, the change in the estimated mod, and the change in the estimated premiums.
9. The ability to import payroll data when you’re on the Payroll form in ModMaster.
As opposed to the import function on our Utilities menu that requires you to import setup, payroll, and loss data, the import button on the toolbar of the Payroll form allows you to import payroll into an existing file. This may be handy in cases where you obtain loss information from one source (such as Zywave) and then want to import payroll from another source. You might also use this function to import only payroll data for the newest policy period after performing a File Utilities/Rollover of an existing mod file.
Learn more about all of our import options
8. The ability to use the up and down arrows on your keyboard to move between fields on nearly all ModMaster forms.
This functionality falls into the “makes life easier” category. While it’s been available on the Payroll and Small Loss pages for some time, we didn’t have it on all of the “spreadsheet” views of the Large Loss page. Now, no matter which spreadsheet view you choose from the toolbar of the Large Loss page, and no matter which type of calculation you are doing (NCCI-type, PA/DE, or NJ), you can quickly move up or down a column of data using the arrows keys, just like you can in a spreadsheet.
View a quick video clip about the spreadsheet views in ModMaster
7. The ability to view loss limits for each state.
When you have a large or catastrophic loss, perhaps that involves a multiple claim accident, employers liability, or USL & HW (U.S. Longshore and Harbor Workers) often the question arises as to exactly what the loss limit is in the applicable state. Although that information can be derived from some ModMaster reports, now it’s easily available to check BEFORE you enter all of the data for a mod calculation. Simply go into the System Administration menu in ModMaster, then click the “Loss limits” link and specify the desired state to see the state per claim and state multiple claim limitations, plus limits for employers liability, and USL & HW claims.
6. New group and grand totals on the Cause of Loss, Injury Type and Loss Identifier reports
Many of our enhancements are implemented because of a user’s suggestion, and this is one of them. Now you can see the total number of losses that fall into a certain category, the total cost of those losses, and their total impact on the mod.
5. The new WorkCompEdge Proposal report
Even if you’re not using WorkCompEdge, this is a great report to help you analyze and suggest what changes a company needs to make to improve its mod. Learn more about it in this article.
4. Support for New Jersey non-”F” classes.
Ironically enough, these classes are preceded - rather than followed – by a “F” and then a payroll code. ModMaster now makes a 50% adjustment to the manual rate and excess element factors for the indicated code, per the Longshore and Harbor Workers’ Rule 4a in Part Two, Section 1, Page 8 of the NJ manual.
3. Support for the new 1/1/2010 California loss split.
While of course we always make any changes that we need to in order to generate a correct mod in all of the states ModMaster supports, we’re proud of the timely analysis our actuarial staff performed on this and the related California rate changes. Read our California 1/1/2010 Mod Calculation Change Advisory.
2. The new $1,000 WorkCompEdge “Agency Plus” license option
While it isn’t strictly a software change, this new license option is significant. Our agency users can now boost the power of ModMaster with the extensive training and resources of WorkCompEdge. Learn more about WorkCompEdge licensing.
1. The new Mod Comparison report
Hands down, this is the big winner for 2009, considering all the excitement and feedback it generated. This report lets you compare 2 different mod files, and based on user feedback, we’ve already enhanced it to include total payroll and an average expected loss rate. Read Comparing Two Workers Compensation Mods.
What’s your favorite feature of ModMaster, or something new that you learned about ModMaster from the blog this year? As always, we love to hear from you. Happy holidays from all our staff, and we’ll see you here on the blog in 2010!
Filed under: General, Making the Most of ModMaster Tagged: | experience modification factor calculation, experience modification rating calculation
