Only one number matters – how much the insurer is left with after paying all pursuit costs.
It’s very easy to be a lower-priced vendor, by cherry-picking the more promising claims and/or settling claims for less than a vigorous pursuit may return. This takes many forms in the industry; law firms that are “free” until they find something, collection agencies that charge the lowest percentage by shying away from complex cases, accepting sub-par offers to shorten cycle times, costs that are buried within claims, etc.
We address this fundamental industry misalignment of financial interests with transparency on our costs, resources and strategy.
We staff many of the professional competencies relevant to both minimizing 3rd-party expenses and maximizing gross recovery. General contractors, professional engineering talent, certified fire experts, attorneys (for their expertise, not as practitioners), and multi-line insurance experts from leading organizations. Talented and experienced people you would employ or engage without hesitation, and that you would trust to interact with your organization, agents and insureds.
This cross-disciplinary approach reduces the need for and cost of external resources, leaving more net dollars for our clients.
So what is our price?
It is jointly determined based on the mix of resources that would maximize your net recoveries. We have several shared risk/reward approaches depending on factors such as business mix, growth and underwriting.