Too Many Tasks, And Hiring New Staff Is Not An Option? (Part One of Two) Not … 2 Cost-Cutting Solutions To Get Work Done Without Overloading Claims HandlersRead more
Claims Operations
Considering Forming a Captive? Maximize Your Claims Benefits In 3 Steps
The Benefits Of Forming A Captive Are Great – IF – You Set It Up And … Considering Forming a Captive? Maximize Your Claims Benefits In 3 StepsRead more
Thinking Outside The Box: Litigation management program initiatives can substantially lower costs
Managing litigation is an easy way to save extra expense costs on claims files. A strong litigation management program designed to help foster improved communication, and streamline defense of insureds, benefits all parties involved. As I wrote about the cost savings benefits of out-of-the-box claims handling, using new and forward thinking strategies for litigation management is an excellent way to save money. Using specialized vendors, claim handlers can further control legal costs as well as enhance their defense.
Absence of procedures to notify reinsurance is a basis for bad faith
Recently I was discussing bad faith and notice procedures with attorney Phil Loree Jr., an expert … Absence of procedures to notify reinsurance is a basis for bad faithRead more
5 Claims issues cited for non-compliance on market conduct exams & 3 tools to avoid them
Insurance Market Conduct examinations are a regular part of the insurance business. Besides the stress of … 5 Claims issues cited for non-compliance on market conduct exams & 3 tools to avoid themRead more
Blizzard Warning in the East! Can your claims department keep running if the office closes?
The East Coast snow storm is a great reminder to be prepared for disasters and other reasons why your office would have to close. Do you have the plans in place to manage the next event? Does your claims system give you the ability to manage claims remotely? Can you manage claims remotely for an extended period of time?
5 expense reduction opportunities insurance CEOs should not overlook
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?
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
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