Claims Management

One of the most misunderstood and complicated areas for any organization is Claims Management. Unfortunately, most companies realize this only after they’ve had a seemingly simple claim turn into a major financial burden due to mishandling.

At The ALS Group we provide our clients with customized, innovative claims support and advisory, as well as solutions across a broad spectrum of insurable and non-insurable risks, which allows us to help our clients to reduce claims costs.

The ALS Group has the experience and expertise necessary to provide your organization with a strategic way of handling claims, which will help substantially reduce your Total Cost of Risk (TCoR). Some of the key claim areas we focus on include:

  • Workers Compensation
  • General Liability
  • Complex Products Liability
  • Automobile Liability
  • Excess Casualty
  • Directors and Officers Liability Claims

Managing human capital risk can be challenging for any size organization and requires a clear and consistent approach.

We will work with your organization to create a customized claims management program tailored to your needs. This program will provide senior leadership with the thorough understanding of their unique situation by addressing the following issues:

  • Frequency of claims, including the average length of open claims vs. number of claims being reported on a monthly, quarterly and annual basis
  • The severity of these claims and the impact they have on your organization
  • The effectiveness of your current claims management program including:
    • Reserve trends
    • Quantifying losses
    • Accuracy of insurance losses being reported
    • Managing legacy claims
    • Identifying any breakdown in the process

the-als-group-nj-claim-cost-chart

The developing hard market for Workers Compensation has companies struggling to keep their renewal premiums from skyrocketing and proper claims management can have a significant impact on your premiums.

Even the smallest of claims can, if not managed properly from the beginning, end up costing your company thousands of dollars.

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Total Cost of Risk (TCoR) - Strategies for Cost Savings Having a TCoR that is lower than a company’s peers gives that company a competitive advantage in, both, how it conducts its business and the opportunities it can pursue.

Contact Us

The ALS Group - New Jersey
379 Thornall St., 9th Floor
Edison, NJ 08837
Tel: +1.732.395.4250

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