This leader in special-risk insurance plans sought a fast-acting remedy to its operational growing pains. It needed to reduce its claims backlog, boost service levels, lower processing costs, and create a platform for growth. The Powers Company established performance standards by position, enhanced supervisory training, and implemented management systems to track productivity, backlog and cost of claims. The results? A 30 percent decrease in cost per claim handled and 70 percent drop in claims processing time.
Our client is a self-contained division of a large insurance company. It offers high-limit-accident medical expense products to colleges, universities, K-12 schools and sponsoring organizations. These plans cover student-athletes competing in sponsored activities, games and practices. Among other functions, the business unit markets, underwrites and services policies; collects premiums; administers claims; and handles case management.