Property and casualty claims

JLT Specialty USA’s property and casualty claims team delivers best in class claims management practices – resulting in program efficiencies, a more engaged workforce, improved insurance program design, and more effective claims resolution.

Our casualty claims specialists’ average more than 20 years of experience in commercial auto, general liability, and workers’ compensation claim advocacy in a variety of specialized industries, including:

Our experienced property claims specialists advocate for our clients with first-party property and business interruption damages to accelerate claims resolutions and mitigate loss.

Casualty

Property and casualty claims

JLT Specialty USA’s casualty team focuses on maximizing claims process efficiencies and reducing casualty claims costs.

We leverage our market-leading analytics tools to provide directional advice with respect to third-party administrator (TPA) optimization, claims, closure, and other cost containment programs. Some of our specific offerings include:

Operational assessments and claims process improvement – Our casualty claims experts review your organizational structure, TPA effectiveness, and overall claims process workflows – providing actionable outputs to improve processes and reduce costs. Leveraging our technical expertise and broad-based experience, we deliver a roadmap to success that is customized to your organization’s claims handling environment and volume.

Claims optimization and claim closure – Our team of specialists begins with a measurement of your organization’s claims performance and cost drivers – including state-level benchmarking to track rates associated with claim closure, litigation, reporting lag time, and lost time to medical-only case ratios.

Using this information, we develop a multi-year plan that is focused on disability management, medical and litigation management, and other major plan elements that are primary cost drivers. The process can also be used to reduce overall claim inventory, collateral requirements, and outstanding reserves to further drive cost savings. As improvements are made, JLT continues to monitor performance to ensure claim operations meet best practice standards.

Property and casualty claims

Collateral reduction – Collateral requirements can at times be unnecessary or financially taxing. JLT helps reduce collateral requirements by analyzing your organization’s current open claims portfolio and determining if there is a way to 1) to reduce the overall reserves associated with specific claims or 2) close the claims altogether.

By driving reserve reduction and claims closure, our teams successfully renegotiate collateral requirements with government entities and insurance markets, resulting in significant balance sheet clean-up and reduction in overall collateral costs.

Claim audits and reviews – To ensure best practice standards are being upheld, JLT conducts periodic reviews of selected claims to understand the suitability of current reserve levels, the current status of claims, and how they can be better addressed; and any other notable issues arising from claims handling.

JLT’s team of specialists leverage their deep experience and industry knowledge to develop a practical assessment approach, delivering action plans that are not only achievable – but also improve overall processes.

Property

property and casualty claims

In support of our Forensics team, JLT Specialty USA’s property claims specialists focus on both pre- and post- loss support, including:

Pre-loss property claims advisory – to align with the brokerage process and claim preparation, JLT conducts statement of value analysis, coordinates and aligns vendors, and supports our property brokerage experts with policy review and manuscripting.

Additionally, we offer deeper analysis, if needed, and can conduct claims scenario workshops. The benefit to your organization is ensuring values and scenarios are considered in the policy, as well as the strategic alignment of key partners to support an efficient and effective recovery in the event you experience a loss.

property and casualty claims

Post-loss property claims advisory – to help support claims resolution, our experts develop triage and actions plans for individual claims, as well as a portfolio.

Action plans include inspection and adjustment activity coordination, claim quantification assistance, and vendor engagement. The result is a stronger and quicker resolution to complex claims issues.

Case Study

A large domestic airline opted to move the workers’ compensation insurance program to a new insurer and TPA after a long term relationship with another insurer.

JLT’s claims team was highly involved from the inception of the RFP process through ultimate placement of the workers’ compensation (WC) program with the new insurer / TPA.

An implementation schedule was assembled well in advance of the transfer, with weekly open items calls attended by all identified subject matter experts.

All aspects of the WC program were reviewed, resources were made available to deliver an enhanced level of service, and IT efficiencies were implemented to enhance productivity.

Results have confirmed an enhanced experience for injured workers, which is of critical importance to the airline’s senior leadership, and cost savings as a direct result of pricing negotiations and an indirect result of the implementation of numerous process efficiencies.

Read our latest insights Read our  latest insights