The periphery of the trade show floor at RIMS is where you’ll find innovators – new companies, with new ideas and concepts, new solutions to old problems, all described by their owners, founders, and top execs. To give credit where credit is due, this isn’t my observation but rather one made by friend and colleague Peter Rousmaniere.
The choice spots on the exhibit floor are occupied by the seniority; RIMS assigns spots according to how many years an exhibitor has been attending, These spots are taken up by the big carriers, brokers, software suppliers, and managed care firms. Not a lot in terms of innovation here, although there are a couple of interesting new solutions to old problems.
Medata’s at RIMS with a new booth, new team, and renewed commitment to customer service. Long hampered by a (to be generous) lackadaisical approach to customer service, Medata is back, looking to take advantage of the turmoil in the market created by Coventry’s aggressive push to consolidate share; ACS’ acquisition of CompIQ; and the sale of FairIsaac’s bill review unit to Mitchell Medical.
Coventry is promoting a medical triage/first notice/network direction product that they’ve been working on for over a year. Early indications are the service can help reduce frequency – significantly. Kudos to the 900 pound gorilla; although the product looks a lot like Medcor’s version (which was developed earlier) at worst it shows Coventry knows a good thing when it sees it.
Medcor’s service combines the best of nurse triage, first notice and provider network direction, reducing the number of calls the payer (or its designees) need to make and the calls the injured worker needs to answer.
Datacare has a unique data aggregation platform, enabling payers to capture and integrate all documents in one location and automate links between UR and bill review – an all-too-often ignored but nonetheless critical part of the medical management process.
Paradigm has been in business for 15+ years, but this is the first year they’ve exhibited at RIMS. The company’s newest offering is a chronic pain program, which has shown strong results after a five-year development effort.
More tomorrow after my feet recover.

Last week it was the World Health Care Congress (perhaps the best conference I’ve ever attended in terms of content and quality). This week it is RIMS, the annual property and casualty get together, where brokers schmooze and vendors vend and risk managers are feted by carriers, TPAs, managed care firms and consultants.
Here’s what I’m looking for at RIMS 2008. New and different approaches to managed care, approaches that are not merely based on discounted care, but outcomes. And not just lip service or ‘we’re seriously studying this’ but programs that are in place, working, and delivering results.
Straight talk from vendors – what they can, and cannot, do. Results they’ve been able to deliver, and the keys to that performance. (Knowing that vendors can’t be successful unless payers work cooperatively with them)
Evidence that payers are not just talking about outcomes and smaller networks and ‘the right docs’ but actually doing something.
New trends, products, ideas, and companies – something that has been in short supply in this industry for too long.
Stay tuned.

As I reported last week, the softening market will inevitably lead to a significant increase in the number of mergers. Add another deal to the list.
In a deal just announced, Liberty Mutual is buying Safeco, the Seattle-based P&C carrier, for $6.2 billion in cash. The transaction is valued at $68.25 a share, and marks the second major acquisition by Liberty in the last few months.
Safeco will be part of Liberty’s Agency Markets business, a venture that was initiated by Liberty Chairman Ted Kelly several years ago. Prior to that, Liberty was a direct writer, and only sold thru its captive sale force (disclosure – I sold for LM for several years). The Agency Markets unit has been quite successful in helping Liberty land clients that would not buy direct, but had strong relationships with brokers.
Safeco joins America First, Indiana Insurance, Montgomery, Ohio Casualty, Peerless, Colorado Casualty, Golden Eagle, and Liberty Northwest as well as Wausau and Summit Holding.
The current financial state of the P&C market makes it highly likely, and I would even say inevitable, that more deals get done, and soon. There is more capital out there than places to park it, and with organic growth difficult and very expensive (the market is soft enough, and even Liberty can’t keep cutting prices forever) insurers looking to grow are going to have to do so thru acquisition.