Claims
Analysis
Our mapping and issue decomposition methodologies provide a foundation to identify, analyze and understand the
claims issues that impact profit and growth and identify improvements that
will reduce allocated and unallocated loss adjustment
expense.
Operational success requires:
√
a sharply-focused strategy (that reflects
balance between claimant satisfaction and management of claim leakage)
√
effective execution of key processes (that add a known
value)
√
a performance-oriented culture (constantly focused on
productivity and business effectiveness)
√
communication that promotes
collaboration across the company
(information exchange with underwriting)
Claim assessments document existing strategy, entire processing cycle (notice of
loss, investigation, loss valuation, settlement, recoveries), and inspection
practices for
cost-benefit (including underwriter work distribution and productivity) across line,
coverage, and jurisdiction.
Analysis and recommendations are documented in a claims management vision
document supported by a claims components model, workflow diagrams, and
analytics. The result is a unified claims framework designed to support
business objectives balanced between indemnity, satisfaction, and leakage.
We also assess and make recommendations regarding 3rd Party Vendor
Management, Direct Repair Program Management, and
Claim Recovery Process Management.
Settlement values and
LAE/ULAE cost management provide a path to strategic competitive pricing.
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