NEW COMPETENCIES ARE NEEDED
FOR MANAGING CLAIMS
Unprecedented types of exposures have
emerged during the past several years,
resulting in new challenges for companies
looking to manage risks from property/
casualty losses. External forces, such as
shifting demographics, increasing cost
pressures, environmental factors and
technology advances, are also dictating
changes in how insurance carriers do
business. The impact of these changes
on claim departments has resulted in a
new set of required competencies.
Best practice companies are shifting
from improving customer satisfaction to
managing customer value — from an
internally based focus on operations to a
goal-oriented approach that focuses on a
balanced array of measures — from data
mining to integrated inference models,
expert systems and evaluation tools.
New approaches are needed to increase
effectiveness and attain competitive
advantage. What’s more, companies want
to understand what is driving their claim
experience and what they can do about it.
HOW TILLINGHAST CAN HELP
The Tillinghast business of Towers Perrin
helps companies drive measurable
improvements in business performance
through our deep industry knowledge
of finance, risk, products, markets, profit
drivers and capital issues impacting our
clients. We can help your organization
identify key underlying cost drivers and
develop effective strategies to reduce
total claim costs.
We assist property/casualty insurers,
reinsurers, self-insured entities, captives,
pools and third-party administrators
with a wide range of claim types and
lines of business — from philosophical
and strategic issues to technical claim
handling best practices.
We also routinely support our actuarial
practice in assessing a company’s liabil-
ities through a coordinated process that
focuses on the interrelationship of case
reserves and the setting of actuarial
reserves. Historically, inconsistencies in
the amount and timing of case reserve
development create problems for the
financial stability of an organization.
Our core st