Increased profits come from efficient claims operations: Take a look at that annual reports of the top performing insurance companies and you will see a similar message from their CEO’s. Expense management and efficiency is a principal driver of profitability.In a tight market do less with more without sacrificing quality and significantly customer service is the edge needed to be a top performer. The claims department is the perfect place to lower costs and improve the customer experience at the same time. Here are 5 key areas that should be looked at for cost savings.
Are claim departments’ process and systems ready for the new “Freelance Nation” worker?
Can claim departments handle the change in the American workforce. The insurance industry has struggled in recent years to attract and retain new talent, especially in claims organizations. In an effort to continually provide the best talent, as well as provide the best customer service, more of the “Freelance Nation” will need to be employed. To do this, claim organizations will need to employ strong procedures and up-to-date technology to ensure optimal performance from this more fragmented workforce. Are they ready?
A checklist of the 8 critical issues to be concerned about when self-managing claims
You self-insure, but how well do you manage claims? Companies make decisions to self-insure their risks for a variety of reasons from financing to claims control. Regardless of the reason, when handling claims in-house it is important to manage those claims in an organized manner to protect company assets. Insurance and reinsurance companies use loss experience to determine what to charge for coverage as well as how much coverage is needed
Putting Puzzle Pieces Together and the Challenge of Creating a New Claims System
Creating a new claims system should be easy with no legacy, right? Not so fast! One … Putting Puzzle Pieces Together and the Challenge of Creating a New Claims SystemRead more
With old claims systems come old claims processes – You can’t change one without the other!
So you need a new claims system You know the darn thing doesn’t work or do … With old claims systems come old claims processes – You can’t change one without the other!Read more
Why use a consultant? The second set of eyes!
Ever try and organize your own closet? It should be so easy to get the thing … Why use a consultant? The second set of eyes!Read more
Start-up – Lets get down and dirty and pitch in on everything
On day one as Vice President of Claims for Arch Insurance Company I found myself working … Start-up – Lets get down and dirty and pitch in on everythingRead more
Change comes quickly when you least expect it
9/11 changed everything for a lot of people. I was at my desk at One Liberty … Change comes quickly when you least expect itRead more
I found my insurance calling – Making operations better and the job easier!
Working at Zurich was a great growing and learning experience. One thing about an insurance company … I found my insurance calling – Making operations better and the job easier!Read more
So this is claims – hey this job is pretty interesting!
Welcome to the world of property and casualty claims management. I learned quickly to sit down … So this is claims – hey this job is pretty interesting!Read more