Independent Claims Solutions for Insurance Carriers
Independent Claims Services
The claims adjusting process is one of the most crucial components of fulfilling the contractual obligation an insurance carrier has with a policy holder once a claim takes place. For a variety of reasons, many insurers today are outsourcing their claim adjusting projects to independent claims service organizations. These companies provide many benefits to insurance carriers who are looking to streamline their claims operations with prompt, efficient claims solutions.
Here are some great tips to keep in mind when choosing an independent claims adjusting company to partner with your claims operation:
Industry Knowledge & Experience
A successful independent claims solutions company will have adjusters on their staff that have many years of industry knowledge and experience in the field. Claims adjusting cannot be mastered in a classroom and real world experience working with a variety of different types of claims can be invaluable.
When assessing an independent claims service firm, find out about the backgrounds and tenure of their claims adjusting team. Working with seasoned professionals can make a world of difference during the claims process.
Work Load Ratio
Even the most highly skilled independent claims adjusters cannot do a great job for an insurance carrier if that adjuster is overloaded with work and traveling commitments. Ask your prospective independent claims solutions company about their claims to adjuster ratio. Confirm that the adjusters in the organization are given the time needed to complete their projects with a high level of quality and accuracy. A lower ratio score will ensure that a carrier’s claims are given the proper attention and adjusted properly.
Insurance companies have policyholders in many different locations and regions. Some carriers even have insureds in foreign countries. One of the great benefits of working with an independent claims service organization is that they have a network of professionals throughout the nation and sometimes across the globe. When doing an evaluation, ask the independent claims solution firm how well they are represented geographically and in what areas they can work, both domestically and internationally.
A key component of selecting an independent claims service company is the cost savings that can be realized when compared to adding internal staff to an insurance company’s claim department. Employee related expenditures such as salary, workers’ compensation, benefits, and PTO can really add up year after year. Outsourcing claim assignments to a claims solution company can save insurers a considerable amount of money both in the short and long term.
Relationship Building Skills
One of the critical elements needed for successful claims management is to engage adjusters who are able to build positive and constructive working relationships with all of the parties involved in an insurance claim. Look for an independent claims service company that has a reputation for hiring outstanding adjusting professionals who seek to establish a good rapport with others. Organizational and follow through skills are also critically important as well. Harmonious relationships can make the claims adjusting process much more efficient and can even lead to quicker resolutions.
Empathy Claims Can Help
For decades, the professionals at Empathy Claims have been providing the highest quality claims adjusting services in the industry. Our staff of dedicated claims adjusters take great pride in the quality of their work, the ability to serve insurers in many locations, and the great relationships we have built with our insurance carriers. Contact us here to learn more about how we can provide claims solutions to your business.