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Insurance companies and their claims staff members must balance many competing priorities. Each claim is unique, and many claims involve complex or catastrophic injuries. Though your insurance company’s focus is on the claimant, it is also important to keep margins and costs in mind for automobile no-fault and workers’ compensation claims. Northwood is a third-party
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Improving retention rates is but one component of the multitude of priorities insurance companies must balance. Topping the priority list tends to be the indemnification of claimants. However, insurance companies and their claimants can benefit from identifying ways to improve retention rates. One way to build up your retention rates is to partner with Northwood.
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Improving outcomes for claimants can also improve the bottom line for your insurance company. One way to improve on outcomes is to track and analyze a variety of data points within your company. Over time, this tracking and analysis can help lead to an improved outcome. One important thing to consider with tracking and analyzing
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Multiple industries have struggled to balance the ever-changing world of COVID-19 over the past two years, and insurance companies are no exception. As the two-year anniversary of the beginning of the global pandemic passes, it is important for insurance companies to look ahead. An eye toward company growth through improved claimant experiences can be key
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Navigating the automobile no-fault insurance reform in Michigan has proven challenging for most, if not all, insurance companies. Northwood stands by as a trusted partner for insurance companies navigating these difficult changes. The reform of Michigan’s auto no-fault insurance went into effect on July 1, 2020, though the state’s legislature created the law in 2019.
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