Good workers are sometimes all that claims departments look for and, given the nature of claims these days, it is not a bad thing. There is so much to do and so little time to do it and good workers, however you define them, are great to have. But how often are creative thinkers looked for? In a video lecture from, Sir Ken Robinson, he asks why don’t we get the best out of people? He argues that it’s because we’ve been educated to become good workers, rather than creative thinkers. Do you recognize that employee in your organization? How should we promote creative thinking in the claims world – read more in today’s post at the Claims SPOT.
Innovation
“What’s The Point” Claims Process And How To Avoid Them
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.
You Can’t Wait Till The Last Minute To Improve You Operation – Planning Starts Now!
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 Insurance companies have added legal, compliance and regulatory concerns to say nothing of complex (sometimes outdated) information technology systems.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.
Change Hats With Someone And Free Your Mind To Make Your Claims Operation Better
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.
Is Your Caims Department Becoming A Bus Company?
Claims departments can get into ruts and begin to act like bus companies. As Seth Godin, business author, recently wrote in his blog – “We all have a vision of the typical bus company, slowly moving people from place to place, going through the motions and showing a lot of fatigue.” In this weeks post, I point to some ways claims department can avoid the bus company mentality and figure ways to stay fresh and motivated.
New Claims Technologies To Help Companies Drive Revenue And Differentiate Themselves
New Study By The Gartner Group Shows 10 Technologies With The Greatest Impact For The Property/ Casualty Industry To Drive Revenue. In this post I comment on 4 solutions that can have a dramatic impact on claims and improve bottom lines. Failing to adopt new technology will put companies at a competitive disadvantage. Every company should look to evaluate their current systems and offerings and create a strategic plan to keep up-to-date with software and solutions. Staying ahead of the curve is a sure way to help drive costs down and stand out from those who don’t.
Cutting Costs Without Overloading The Claims Handler – Part 2 Of The Series
In part 2 of this series on cutting cost without overloading claim handlers I given an example of hiring a part-time employee to review legal bills. As noted, sometimes specific types of work, such as legal bill review, subrogation and anti-fraud, can best be handled by dedicated resources. Hiring a part-time employee that can focus on an area of claims is sometimes the best way to get results. Overworking claims handlers with additional tasks not part of their core job function – to evaluate and settle claims – can result in some aspect of their job suffering. Key cost cutting initiatives, such as Anti-Fraud and subrogation recovery, get put aside by the handler and never get the fullest attention needed to be successful. Take a look at the latest example of solutions that work.
Saying “I’m Sorry” Can Reduce Exposure to New Claims
It may seem counter intuitive, but with the right technique a heartfelt apology can help lower claims costs and exposures There is a wave of civility sweeping through the world of risk management as a way to lower exposure and reduce costs: Apologize. Maybe mom was right when she stood there and said “now say you’re sorry.” In fact, there are some very impressive statistics in the area of medical malpractice around the simple use of an apology. Regardless, there is a proper way to apologize while protecting rights and some policy considerations to consider.
Improve bottom-line outcomes on claims by thinking outside-the-box!
Claim handling is just as much an art as it is a science. Synthesizing facts and … Improve bottom-line outcomes on claims by thinking outside-the-box!Read 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