Increased net recoveries
- Improvement ranging from 10-30%, depending on line of business and geographic footprint
- Greater transparency of adjudication process to reduce friction points
- Data to support underwriting and indemnity practices
- Tools to improve service to insureds and distribution partners
Litigation streamlining: 20%+ cost reduction through:
- Law firm performance benchmarking
- Service standard implementation
- Placement guidelines
- Litigation portfolio management
Vendor expertise: 25%+ cost reduction through
- Knowledge management
- Adjuster skill set assessment and expansion
- Alignment of claim need with vendor skill set
Operational streamlining and efficiency
- Identification of opportunities to combine overlapping claim and support functions to further advance internal shared-service offerings