Claim Cost Management
Unprecedented types of exposures have emerged during the past several years, resulting in new challenges for companies looking to manage risks from property/casualty losses. New approaches are needed to increase effectiveness and attain competitive advantage.
Best practice companies are shifting their strategic focus from improving customer satisfaction to managing customer value — from an internally based focus on operations to a goal-oriented approach that focuses on a broad array of measures — from data mining to integrated inference models, expert systems and evaluation tools.
Towers Perrin assists property/casualty insurers, self-insured entities, captives, pools and third-party administrators with a wide range of claim types and lines of business. Our core staff of senior claim professionals each bring over 20 years of extensive claim experience across multiple lines.
Our client offerings include:
- Claim handling best practices
- Benchmarking claim management effectiveness
- Diagnostic reviews
- Performance metrics
- Performance improvement road map
- Case reserve review and analysis
- Consistency and effectiveness
- Loss reserve implications
- Pricing impact
- Organizational effectiveness
- Skills and capabilities
- Process and systems support
- Alternative/hybrid approaches
- Implementation planning and design
- Process, people, cost and execution timeline
- Predictive modeling
- Assignment tools
- Rules-based analysis
- Claims requiring special handling
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