Managing Risk Through Service Excellence
Automobile no-fault and workers’ compensation insurance inherently involve risk to varying degrees. Insurance companies administering these types of claims also deal with risks, both from an insurance perspective and from a claims adjudication perspective. Throughout the claims adjudication process, insurance companies may encounter a variety of risks, many of which can potentially be mitigated by setting a high bar for providing an excellent claimant experience.
Enhance your claimants’ experience
Insurance companies that prioritize their claimants tend to experience higher rates of claimant satisfaction, which in turn is reflected in their retention rates. On the other hand, insurance companies that do not prioritize providing an excellent experience for their claimants face the risks of negative claimant sentiment, lower claimant satisfaction rates, and decreased retention rates overall.
Northwood, a durable medical equipment, prosthetics, orthotics and medical supplies (DMEPOS), pharmacy and ancillary service provider, fully understands the risks associated with a failure to provide excellent service to claimants. More than 30 years of experience administering claims in the auto no-fault and work comp industries translates into innovative processes and procedures that are specifically designed to enhance the service your claimants experience.
Perhaps one of the most visible ways Northwood demonstrates a commitment to service excellence for its insurance company partners is via its customer care line. This care line is accessible to the adjusters and examiners in your claims department and offers them quick access to experts who understand the complexities of work comp and auto no-fault insurance.
Those same experts are also accessible to the insurance company’s claimants. This provides another touchpoint for claimants who may be overwhelmed by the claims adjudication process. Claimants are able to contact the care line to ask questions or to address any concerns they may have about their claim. This alone offers added convenience and peace of mind for claimants, which contributes to a higher rate of satisfaction with your insurance company.
Northwood is also able to partner with your insurance company to measure claimant satisfaction levels via claimant satisfaction surveys. These surveys provide insight into areas where your company is excelling at claimant service, yet they also provide insight into areas of opportunity. Results and data are tracked and measured, which contributes to further increases in claimant satisfaction as well as higher retention rates.
Ultimately, focusing on providing excellent service to your claimants benefits both your company and your claimants while holding down the risk of decreased retention rates due to claimant dissatisfaction. Over time, partnering with Northwood to provide an excellent claimant experience will also contribute to a healthier bottom line.
Improve the bottom line
Northwood’s experience as a DMEPOS, pharmacy and ancillary service provider will also benefit your company in a variety of additional ways. Please call Rosanne Brugnoni at 586-755-3830 ext. 3771 for a customized look at how partnering with Northwood on your auto no-fault and work comp claims can further benefit your insurance company.