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With the technology available in today’s world, insurance companies have multiple opportunities to measure important statistics within the claims administration process. The sheer amount of data available to be measured can be overwhelming and it is important to ensure that your insurance company is collecting and utilizing all of this data to come up with
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For an adjuster or examiner, the process of administering a claim and dealing with several providers for a single claimant is typically quite common and routine. However, the claims process from a claimant’s perspective can be rather complicated and, more often than not, a major source of frustration for claimants. This is doubly true when
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Administering automobile no-fault claims involves many facets, not the least of which centers on ensuring an excellent claimant experience. Claimant satisfaction is correlated with policy renewals. If a claimant is not satisfied with his or her claim, they are much less likely to renew their policies when their renewal date arrives. The J.D. Power 2016
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At first glance, claims experience and policy renewals may not seem directly linked. However, insurance companies must uphold stringent standards of excellence to ensure their claimants experience the highest levels of satisfaction throughout the entire claims process. Unsatisfied claimants translate into unhappy insureds, which can often lead to the loss of those same insureds when
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Within the field of claims administration, there are many avenues that insurance companies may choose to take to assist in holding down costs and in lessening the administrative burdens placed on adjusters and examiners. One such avenue that brings a multitude of benefits to an insurance company is to partner with a third-party administrator (TPA) on each claim, whether auto no-fault
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