Traditional Claims Management Is Not Always Enough

“I have insurance, so I’m covered, right?”

I hear this question frequently from my new clients and the reality is that in many cases, it’s not that simple.

Obtaining the coverage you need to protect your business—and without breaking the bank—depends on a wide range of variables. And while many variables that could lead to an incident are out of anyone’s control, there is still room to take matters into your own hands.

It’s time to let go of traditional claims management and replace it with an integrated and vigilant approach.

Minimizing the Impact of Claims on Your Loss History

Businessowners know all too well that accidents happen—usually when they’re least expected. Every time an incident takes place that requires you to file a claim, it will likely have an impact on your overall loss history.

Why does this matter? Because your insurance costs are actually dictated in part by your loss history. Organizations with high claims volumes are more likely to encounter premium increases, reduced limits, and could potentially face litigation from individuals impacted by an incident.

On top of that, when a claim is left uninvestigated and unaddressed, the financial damage only worsens, and those involved in incident may have less accurate reports of it for your and your carriers’ records.

Claims are typically handed off to your insurance carriers once they’re filed. This can leave you feeling like your loss history is out of your control. In reality, taking control of your loss history is very possible with mindful, integrated strategies that don’t solely rely on traditional claims management.

A New Approach to Managing Claims

Taking a heightened approach to claims management can help reduce your insurance premiums over time. It also allows you to prevent claims from becoming long and costly lawsuits or reduce their impact in the event of litigation.

At Assurance, we empower our clients to take matters into their own hands with our Advanced Advocacy program. Through it, we combine claims, risk management, safety and customer service strategies to help keep incidents from spiraling into something worse.

“It’s time to let go of traditional claims management and replace it with an integrated and vigilant approach.”

If you’re an Advanced Advocacy client, we work with you the moment you notify us of an incident, document it in detail, and communicate with your insurance carriers on your behalf. In the meantime, your safety and claims advocate will guide you every step of the way during the recovery process.

Plus, because escalating claims issues can be emotionally driven, we provide guidance on compassionate customer service to reduce or prevent potential losses for your organization. If appropriate, we’ll also recommend new safety and wellness strategies to avoid it happening again.

The impact of this integrated approach is overwhelmingly positive. One of our Advanced Advocacy clients recently achieved $1.39 million in potential cost savings following an employee injury. Much of this success was due to leadership’s commitment to building a proactive, compassionate, and well-rounded claims management program.

Our ‘A’ team can help you reduce the frequency and severity of your claims so you can keep your Business Insurance costs in control—no matter how the marketplace changes over time.

ABOUT THE AUTHOR

Jamie Glanz

Jamie Glanz is the Senior Vice President of Claims at Assurance. With more than 20 years’ experience, Jamie is an expert in mitigating third party claims by reducing claim duration and incurred expenses. Throughout her career, she has managed claims across multiple lines of coverage and industries, including construction, governmental agencies, healthcare, manufacturing, and retail. As Senior Vice President, Jamie is responsible for providing leadership and oversight to Assurance’s Claims Team to ensure the flawless execution of our service platform. She has a Bachelor of Science degree in Occupational Safety and Senior Claims Law Associate designation. She was named Assurance’s 2010 Employee of the Year.