In today’s competitive labour market, attracting and retaining top talent has become increasingly challenging for business owners and executives. As organisations vie for skilled employees across various sectors, distinguishing themselves from competitors is crucial. One significant way to do this is by providing employees with peace of mind via a comprehensive insurance program, which not only safeguards employees from the financial impact of illness and injury but also enhances workplace appeal.
The value of Accident and Health Insurance
In an era where workforce dynamics are continually evolving, particularly with more flexible and adaptable work arrangements, Accident and Health products such as Corporate Travel Insurance and Group Personal Accident Insurance are becoming indispensable. These types of coverage are tailored to accommodate a wide range of organisations and associated risks, ultimately leading to cost savings and smoother daily operations. They protect employees from unforeseen travel and health-related incidents, whether they occur at work or outside of it, and offer essential benefits to employees and their families in cases of disability or death.
Overcoming Challenges with Accident and Health Claims Management Outsourcing
Despite the many benefits of accident and health insurance, many insurers face challenges in managing accident and health insurance claim portfolios effectively. Overseas travel and personal accident claims can be complex, requiring careful assessment and stakeholder engagement. Ineffective technology solutions and processes can lead to inefficiencies in managing benefit payments, which may negatively impact productivity and an insurer’s reputation.
Outsourcing claims management to an expert accident and health claims manager like GB can alleviate this burden. Partnering with an expert provider helps insurers meet their compliance obligations and focus on core lines of business.
Advantages of Accident and Health claims management outsourcing
- Effective Cost Containment Strategies: Implement strategies that control claims costs and minimise liabilities within the portfolio.
- Comprehensive Governance Framework: Ensure peace of mind regarding business risk management, adherence to service level agreements, and compliance with regulatory requirements.
- Customised Claims Management Services: Collaborate with a team that understands your unique product wording, risk profile and aligns claims management services with your expectations.
- A platform built for Accident and Health Insurance claims: Managing travel insurance or group personal accident claims on a general insurance claims management platform creates inefficiencies and adds unnecessary cost to every claim handled. Consider the technology platform that best suits the type of claims being managed.
- Proactive Portfolio Performance Oversight: Utilise performance analysis and trending insights to enhance underwriting modelling and improve portfolio management.
Gallagher Bassett processes over 50,000 accident and health claims annually for a diverse array of clients, including government departments, major insurers and specialty underwriters. With a national presence in major cities, our team of claims specialists is equipped to handle the complexities of accident and health claims efficiently.
To maximise the benefits of Accident and Health Insurance with managed risk, minimal effort, and proactive support, connect with us today.
