Our business is understanding the returns on investment for each claim decision point.
Claims Recovery was our first application of this skill set, and is still the largest service by revenue.
We started by taking in individual claims, expanded across business lines, and then grew to taking full responsibility for recovery departments. While this is still a core offering for us, we recognize that insurers and risk departments have varying appetites for partnering externally (in many areas, not just recovery).
That realization led to alternative partnering models. Currently, we can team on specific functions within insurer’s recovery departments, consult to improve a client’s Claim and/or recovery departments, and improve insurer workflows to maximize the benefits of new system integrations.
Two factors drive our service offering flexibility on scale, pricing and scope.
First, as we’ve learned more about claims and their cost-elements, we’ve developed a due diligence process that identifies improvement opportunities and quantifies the potential upside of partnering. We focus on what can be improved, and our joint review of an insurer’s operations provides the objective evidence for both targets and pricing. The more information an insurer can share, the tighter we can design our pricing through reducing project uncertainties – not unlike P&C insurance pricing for its customers.
The second reason for our flexibility on offerings is the reality of being an entrepreneurial, but modestly sized, service provider to insurers.
How open are people to learning about what needs improvement?
How best to manage the accompanying change?
What internal challenges might an executive face in raising awareness of existing deficiencies?
Our solutions minimize change management issues.
Founded on Long Island
Relocated to Jacksonville, FL
Developed and integrated the following:
- Scaled operations and leadership to integrate BPO, insurance, technology, law, financial, process and customer service capabilities.
Expanded maritime offerings with addition of cargo, hull, and P&I services.
Opened London office across from Lloyd’s staffed by maritime experts.
- Established a new business segment, INFOSURANCE℠, to support risk management operations through the collection and management of information among reinsurers, insurers, intermediaries and insureds, as well as the vendors and customers interacting with these entities.
- Researched and built out intellectual property and process in support of marine, logistics, cargo and construction defect recovery, claim and risk management issues.
- Established near-shore shared service center to support both claims and Latin market needs.
- Expanded consulting services and engagements in both the UK and the US to include audit, IT integration, best practices review and staff/workflow design in Claims, Underwriting and Reinsurance.