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All You Need to Know About Outsourcing Your Insurance Claims Management

Thinking about outsourcing your insurance claims management to a third-party claims administrator? In working with some of the most respected insurance carriers across the globe, here are 5 benefits we’ve seen clients gain from engaging the right TPA:
    1. Increased business outcomes and competitive advantage

The customer experience can have a direct impact on your bottom line, with unhappy customers increasing administrative burden and ultimately ‘voting with their feet’ by departing in search of another provider. With the resourcing capacity for everything from introducing new products to managing a surge in claims, third-party administrator support can assist insurance carriers to significantly enhance customer communications and relationships, ensuring positive and timely outcomes are consistently achieved. The local market expertise at Gallagher Bassett means client problems can be swiftly assessed and optimal solutions efficiently sourced. The resulting improved customer service and associated TPA savings can enhance profitability, and ultimately increase competitive advantage.

    1. Cost effective, flexible, and timely resourcing support

Outsourcing claims management services streamlines the allocation of internal resources and staff, allowing in-house support to be highly responsive and adaptable to market changes and global events. With our global network of local experts, we can ensure the staff and solutions we provide are customised to each client for outstanding results. With proven capability and systems to recruit, train, and deploy resources in just 20 days, Gallagher Bassett gives you the flexibility to adapt to rapidly emerging circumstances – a more regular occurrence in the present global climate. Our superior onboarding process leads to business cost savings compared to new full-time recruitment activities, decreasing overheads and minimising associated recruitment costs.

    1. Carrier expertise and talent diversification

Outsourcing allows you to tap into a larger pool of talent with a greater depth of skills. Gaining access to specialists and diverse skillsets, backgrounds, and capabilities that may not be present within your organisation expands your capability while relieving inhouse pressure and even reducing costs. Rapid access to the strongest candidates in your market, without the hassle and expense of recruiting or onboarding these resources, gives you peace of mind that even the most complex claims matters can be dealt with effectively and expertly, creating a better outcome for your business and your customers. Gallagher Bassett continuously achieves outstanding results for a variety of carrier clients via casual and temporary outsourced staffing solutions, supporting insurers in managing their current portfolios, and executing future growth strategies.

    1. Top notch quality and performance through professional management

In life, we’ve all got multiple balls to juggle – home, work, health, family. The same happens in the workplace – deadlines, projects, and responsibilities. For insurance carriers, engaging a TPA delivers a level of certainty, as providing flexible solutions to managing your claims is our core focus, and we have both the resource availability and systems in place to consistently deliver high-quality outcomes. By training our team in your systems, processes, values, and language, we create a seamless customer experience that reduces cost while relieving inhouse pressures. Paired with a robust project management style that includes daily stand ups, toolbox meetings, and escalation protocols, our proactive approach ensures timely deliverables across the board, including more accurate and efficient claims resolutions.

    1. Global best practices and risk management

Further to the previous point, outsourcing to the right TPA allows insurance carriers access to the perfect blend of local services backed by global resources, tools, and best practices to achieve superior customer experiences and outcomes. Gallagher Bassett’s risk management and client engagement framework provides the structure that enables teams to deliver exceptional results, no matter the environment.

For more great insights, whitepapers and case studies, visit our Insurance Carrier Resource Centre.

To find out more about how Gallagher Bassett partners with insurers to deliver custom claims solutions that support your business contact us today.

Craig Furness

CEO, GB New Zealand

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