Services
Benefits of Using Third Party Administration
- Client-Customer interaction remains intact;
- Interclaims becomes point of contact for all negative turn-outs enabling your company to be the "hero";
- All customer accommodations and recommendations are company advised
Administrative Functions
- Assemble and maintain complete electronic and physical files for internal use and potential subsequent submission to counsel;
- Maintain regular and particularized spreadsheets for accounting;
- Issue claim payments to customers;
- Issue payments to surveyors and vendors;
- Maintain regular and particularized claims reports for all open claims;
- Issue period account reviews relative to claim volume, claim payments, times for claim resolution, and LAE figures;
- Archive closed claim files (electronically and/or physical file) and maintain as required/desired.
Substantive Functions
- Receive and acknowledge claim to client and claimant;
- Issue notice to responsible third-parties to preserve indemnity recourse rights as may exist;
- Review facts of loss, dispatch real-time surveyor, if prudent, via worldwide network;
- Request and collect relevant documents and information from client, claimant, and/or third-party vendors;
- Analyze potential exposure under applicable law and contract terms;
- Establish, regularly review, and update/maintain recommended indemnity and LAE reserve figures;
- Thoroughly investigate and witness testimony;
- Develop strategy and tactics for claim resolution;
- Adjust claim pursuant to applicable law, contract terms and proof of loss;
- Engage responsible third-parties for claim payment funding/contribution;
- Provide respectful claim adjustment explanation to claimant explaining the "why" of claim result;
- Settle claim, tender funds, tender claim to legal counsel when necessary;
- Notify client of glaring omissions or flaws in form document portfolio or operational procedure and commensurate exposures.