Claims Predictive Modeling (CPM) is one of the big buzz words in the industry. After a few decades of improving claims technology systems and creating vast databases of claims information, CPM is an attempt to use that information more effectively. In our latest post we discuss CPM and what it means to make changes to adopt this new metric.
A Claims Tale Of Three Little Managers And Their Review Programs
We have all head the story of the 3 little pigs but have you heard of the 3 claims managers? The Manager of Straw, the Manager of Sticks and the Manager of Bricks are all motivated to do the right thing but they go about it in very different ways. One had no program in place to review their operation, one had a basic process in place and one used a detailed program to review claims. Read on this story and see how problems occur and are managed differently.
Everybody Wants to Make Improvements In Claims But No One Actually Makes It Happen
There is so much that needs to be done in the world of claims. Operations need fixing, technology needs improving and a futures need to be defined. For some reason however, we are all really good at talking about it and not so good about doing anything about it. The industry needs to take action. Claims departments need to think creatively and “out-of-the-box” if we are going to attract new talent to the industry. This also means acting and not just talking about acting.
2 Preventative Steps To Help Avoid Claims Crisis Before They Become Emergencies
Seth Godin in his wonderful blog recently wrote about Emergency room doctors in organizations. These are the people that are really good at and are rewarded for stopping bleeding. Seth is questioning where all the strategic thinking to prevent those emergencies in the first place? In claims we tend to hire and support that emergency room doctor mindset. Despite this, we can avoid becoming emergency rooms and be more proactive strategic organizations. In our latest post we explore possible solutions to be less reactive.
Insanity: Claim’s Departments Can’t Expect Different Results Without Changing Their Organizations
Maybe I care too much about our industry or am just frustrated by the lack of attention to quality claims handling, but this is annoying. Why should claims make up half of the most frequent market conduct issues for the Property & Casualty industry as listed by Wolters Kluwer for the 5th straight year? As part of their review they track and analyze the results from state market conduct examinations. As with their prior studies, claims issues continue to dominate the list of state concerns. In my latest post I analyze the last 5 years of the Wolters study and find an upsetting trend – nothing is changing. This is a challenge to claims organizations to improve! Check it out.
What Would Steve Jobs Do In A Claims Organization?
So what would Steve Jobs say about our claims industry? Well, having heard about his reputation I think I will leave what he would say out of this post. Regardless, I think Mr. Jobs would see an industry with tremendous opportunities to innovate and improve the way they deliver and manage claims services. In our most recent post, we explore a claims world in as it may be in the world of a master of product design and marketing.
Negotiation Strategy: Going to the Balcony
Sometimes taking a break from the heat of negotiations is a good way to jump start the process. In our latest post from contributor Nancy Hudgins, The Claims SPOT explores ways to cool those emotions in a heated claims negotiation. Take a look and tell us how you would react?
Getting More in Your Negotiations
Take a look at Contributor, Nancy Hudgins review of the Stuart Diamond book on negotiation. We can always use ideas on how to improve negotiations and these look like some good ones.
Why Don’t Claims Organizations Track Claims Through The Process The Way UPS Tracks A Package?
Today as a customer you can track your packages from the moment they leave the store to the second they arrive at your door. During that time you can see where they are in the process. Truly amazing. Why can’t claims organizations do the same thing? How much better would a claim be if we could track it through the system in the same way UPS can track a package. Something to think about when reading the latest from theClaimsSPOT.
2 Problems To Prevent Before They Get Out Of Control: The Lily Pads Revisited
Waiting to the last minute can be a costly venture. In out latest post we tell the story of the farmer who waited to clear those innocent lily pads from his pond. He kept going on to what he thought were more important things. Unfortunately he waited to long and the lily pads took over the pond and cost him a lot more to clear. We all have lily pads we don’t want to clear from our desks. It’s time to look for them and clear them off before they strangle the life out of your pond….I know a little poetic but read on and you will get the idea.