Claims Concierge Services
Claims Concierge Services

onebrightlycyber's founders have established relationships with several carriers, facilitating the joint development of unique services. Most carriers consider their claims process to be highly strategic, requiring a careful balance between cost containment and enhancing the claims process from the perspective of the policyholder (claimant). An unsatisfactory claims experience tends to escalate cancellation rates while a favorable experience increases retention and referrals.

An important macro-trend within the industry is to aggressively vend out services and cost related activities. Although small and medium-size carriers sometimes contract claims to third party administrators, most are reticent to lose control of the relationship. onebrightlycyber's Claims Concierge was developed to expedite the claims process, between the policyholder and the carrier's claims specialist.

Goals of the program include:

Containing Operating Costs

The carrier's cost of claims processing can be lowered by offloading the interview process and reducing the time required to assemble documentation and accurate claims forms. Expensive claims personnel can then focus on a completed claims file for final decision and adjudication. Each time a claims file is touched internally, costs increase. This is most dramatic when escalated to claims managers, internal counsel, and outside attorneys. Uninformed skeptics may argue that the claims department functions to delay settlement; the argument is simply not true. Claims managers are motivated by operating efficiencies and retaining the policyholder. The service will be priced across a book of business. This type of arrangement allows the carrier to more accurately budget expenses for the year - a strong selling point.

Increase Revenues

Create a more enjoyable and less stressful experience for the claimant by systematically and quickly assembling a comprehensive claims file on behalf of the policyholder. Each claimant will be assigned a personal specialist, with a private phone line, who will work with the claimant throughout the case managed process. A more enjoyable claims experience has been shown to increase policyholder retention and create new referrals to the carrier. In fact, J.D. Powers and Associates reported that the first claims experience drives 46% of the policyholder's experience with the insurer. Furthermore, the carrier's marketing department will embrace the concept of Claims Concierge, panache heretofore limited to carriers focusing on high-end books such as Chubb, Fireman's Fund, and Cincinnati Financial. Reduce Fraudulent Claims onebrightlycyber can lower the carrier's cost of paying fraudulent claims by layering fraud screens, checks, and special work processes when deemed appropriate.