Lanzko Insights/The Claims SPOT

My SPOT | SPOT on Ops

“What’s The Point” Claims Process And How To Avoid Them
ByMarc Lanzkowsky July 6, 2010July 5, 2010

Being able to truly focus on what’s important is a path to success. Claims organizations are notorious for multiple process and procedures. Many of these procedures are truly necessary and are required to maintain controls, prevent fraud or comply with a multitude of regulations facing the insurance industry. Nonetheless, doing something for the sake of doing it is no way to be an efficient organization. Today we speak about asking “what’s the point” before proceeding with new projects or exploring existing process.

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Claims Auditing | Due Diligence | SPOT on Ops

The Importance Of The Pre Bind Claims Review In The Reinsurance Context
ByMarc Lanzkowsky June 29, 2010June 5, 2011

Reinsurance companies faced with a new submission often review loss runs and other financial data to determine the effectiveness of an account. However, numbers only tell half the story and in order to get a complete picture of a cedent’s submission, it is important to have an understanding of the claims department. What is the company’s reserve philosophy? What kind of systems do they have in place? How are claims staff measured? Conducting a comprehensive pre-bind review is an important step to help minimize the risk.

In this post, the Claims SPOT explores the importance of the Pre-Bind review in the Reinsurance context.

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Best Practices | SPOT on Issues

Social Media And Claims Investigation: Do You Know About Foursquare?
ByChristian Stegmaier June 28, 2010June 28, 2010

Undoubtedly, you’ve read plenty of articles or have been to numerous presentations regarding the use of social media to investigate claimants. At this point, the novelty of Facebook and MySpace has worn off. The same can be said about Twitter. Everyone knows at this point to take a look at those platforms when searching a claimant’s background. Enough said. However, seemingly with every new day comes a new social media application. One relatively new application that you should also take a look at during your claims investigation is Foursquare.

Learn more from out latest contributor, Christian Stegmaier, JD and look for more articles from Christian in the weeks to come.

Read More Social Media And Claims Investigation: Do You Know About Foursquare?
SPOT on Ops

Allstate SVP of Claims Discusses The Customer And Claims At The ACE Conference
ByMarc Lanzkowsky June 24, 2010

An interesting keynote speech given by Allstate head of claims at America’s Claim Event in Las Vegas. Michael Roche discussed Allstate’s push to improve customer service through both improved technology and initiatives. We discuss a few interesting lessons learned that can be considered by claims operations to improve customer experiences.

Read More Allstate SVP of Claims Discusses The Customer And Claims At The ACE Conference
SPOT on Ops

You Can’t Wait Till The Last Minute To Improve You Operation – Planning Starts Now!
ByMarc Lanzkowsky June 22, 2010June 21, 2010

In a a great analogy about the rapid growth of lily pads in a pond, we discuss the need to start strategic planning to solve problems before they become to hard to deal with. Like most industries, adopting and changing with the times can be a difficult proposition. It takes time to think of issues, come up with solutions and implement the changes. Insurance companies have added legal, compliance and regulatory concerns to say nothing of complex (sometimes outdated) information technology systems. Regardless, it’s not too late to address issues such as a social media or mobile strategy. We give two suggestions of recent trends that should be explored by claims organizations over then next few years.

Read More You Can’t Wait Till The Last Minute To Improve You Operation – Planning Starts Now!
Medical Malpractice | SPOT on Costs | SPOT on Issues

6 Steps To Reduce Expenses For Medical Experts As Suggested By The Expert
ByPhilip Lanzkowsky June 17, 2010June 15, 2010

The traditional method for preparing an expert is to send them the entire record and let them review for possible issues. Dr. Philip Lanzkowsky, a medical expert providing opinions and testimony on cases for both plaintiff’s and the defense, raises some practical questions and provides a series of suggestions as to how those expert costs can be reduced.

Read more in this interesting post of expense reduction of medical expert costs as suggested by the expert.

Read More 6 Steps To Reduce Expenses For Medical Experts As Suggested By The Expert
SPOT on Issues

How To Understand Capturing Lost Hotel Profits Due To The Gulf Oil Spill
ByBob Glasser June 16, 2010June 14, 2010

Knowing how to capture lost profits is critical when seeking reimbursement from the responsible party With uncertainty and concern surrounding the impact of the Gulf oil spill to the coastline from Florida to Texas, many companies are asking what needs to be done to quantify and document lost income for future claims. Many businesses are…

Read More How To Understand Capturing Lost Hotel Profits Due To The Gulf Oil Spill
Best Practices | Claims Auditing | Rick Woollams (Chartis Chief Claims Officer) | SPOT on Issues

The Need For Claim Auditing In Catastrophe Loss Situations Such As The Gulf Tragedy
ByMarc Lanzkowsky June 15, 2010June 5, 2011

The tragedy of the Deepwater Horizon and the aftermath seem to be a topic of constant conversation. From an insurance perspective there is a large amount of criticism being brought to bear on the claims process. The massive administrative organization that has been established to handle what are already tens of thousands of claims is an undertaking that could be fraught with problems. In today’s post from The Claims SPOT we discuss how auditing in the Catastrophe situation is an important part of the process to ensure claims are paid quickly and appropriately while at the same time preventing fraud.

Take a look and join the conversation.

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Read More The Need For Claim Auditing In Catastrophe Loss Situations Such As The Gulf Tragedy
Best Practices | SPOT on Issues

Change Hats With Someone And Free Your Mind To Make Your Claims Operation Better
ByMarc Lanzkowsky June 9, 2010June 8, 2010

Don’t limit what you can imagine by what you know – look to others to help improve your claims department.

In Trading Places: A Smart Way to Change Your Mind, Harvard Business Review contributor, Bill Taylor discusses the “power of a whole new mindset about innovation.” The article goes into what happened when two CEO’s switched companies for a day and the learning that came from the new perspectives they had. The Claims SPOT discusses how having claims adjusters switch roles with different disciplines can be a new way to expand their skills. Having managers sit with other business divisions, such as underwriting or actuarial, can be a great way to get a better understanding of the entire insurance process outside of claims. And lastly, looking outside of claims and insurance altogether to change hats and free your mind to new ways to make your operation better.

Read More Change Hats With Someone And Free Your Mind To Make Your Claims Operation Better
Commentary | My SPOT

Commentary – Expect Gulf Oil Slick Claims To Be Extensive And Impact Multiple Lines Of Business
ByMarc Lanzkowsky June 5, 2010

We still do not truly understand the entire impact from a claims perspective of the tragedy that has unfolded as a result of the Deepwater Horizon rig accident in the Gulf of Mexico. Losses are being estimated in the $30-$40 billion range with only a fraction of that number covered by insurance. What has recently been reported, however, is an increase in premiums for offshore energy coverages. What is next? No one really knows. The Claims SPOT comments on the some of the issues facing the industry.

Read More Commentary – Expect Gulf Oil Slick Claims To Be Extensive And Impact Multiple Lines Of Business