Menu
Menu
×

Claim Consulting

Insurance claims can be complex. We help you eliminate oversight to prevent unclaimed settlement money and loss of time

An insurance claim, regardless of size, represents an unfortunate situation that requires an investment of your time, resources and focus. While it may help things appear back to normal by going with the flow and following your insurance carrier's lead handling your claim, it may also come with not receiving the best settlement to your claim.

A look behind the curtain

Claims adjusters get paid bonuses just like many other employees in many other industries. It's based on performance. But ask yourself a question, what would qualify a claims adjuster to receive a bonus? Simply paying policyholders the maximum amount available for claims doesn't translate into the level of profitability for the insurance company that warrants paying claims adjusters bonuses.

It would make sense that claims adjusters qualified for annual bonuses by adjusting claims in a way that appears fair, but may not represent the best deal for the policy holder, thus saving the insurance company money by reducing the claim settlement.

Simply going with the flow and following your insurance company’s lead may seem like the easiest route to take when it comes to your business insurance claim, but it often comes with the downside of not receiving your best settlement.

Keep your business and claims on track

There are ways that you can help your veterinary hospital ensure that you get the most for your insurance claim:

  • Have your policy handy. Always have a copy of your insurance policy. These are mailed directly to you when the policy is written and renewed. Most carriers provide a digital copy via their online policyholder portal. If your carrier does not provide an online portal, we can be forward a digital copy at any time.
  • Inventory of assets. Have a detailed inventory of business property. This should include a schedule of medical equipment, medical inventory, computers, furniture, etc.
  • Independent damage estimates. Acquire two separate independent estimates to gauge the true cost of rebuilding or restoring your damaged property.
  • Document everything. Every point of contact with your insurance company should be documented.
  • Communicate with your agent. Keep your agent informed as things progress with the insurance company because claim notes available to your agent may not be consistent with what you were told from the claims adjuster. The more transparent and informative you can be with the agent, the more they can advocate on your behalf. Your agent also holds power over the carrier with respects to their book of business. While the adjuster may not be motivated to provide you with a fair settlement, the insurance company doesn't want to gamble the agent moving millions of dollars in premium volume to a competitor simply in retaliation because of consistently poor claim performance from the insurance company.

Vetinsure Customized Solutions

Claims management action planning 

During the pre-loss phase, we:

  • Create the service plan, outlining how we can streamline the claims management process.
  • Analyze your past losses and provide recommendations for reducing them going forward.
  • Prepare claims special handling agreements and establish financial reporting thresholds with insurance carriers.
  • Establish online access to the carrier and third-party administrator websites.

Manage claims every step of the way

If you are involved in a claim or sustain a loss, Vetinsure is here to expedite the process from beginning to end. Additionally, we can help you to prevent and understand how to avoid similar claims in the future. During the post-loss phase of the claims management process, we:

  • Advocate for early intervention and resolution of claims.
  • Negotiate on your behalf for the best possible outcomes.
  • Conduct carrier claims reviews and strategy sessions.

Vet-centric claims consulting experience

Our team will intervene in any situation where we feel the insurance company is not fulfilling its obligations based on the policy terms and conditions. Our dedication and focus on the business of vetmed along with leadership from our top executives, offers unparalleled expertise and:

  • Aggressively work to maximize first-party benefits for your business and minimize third-party payouts.
  • Challenge carrier loss payments and loss assessments

Let's talk claims consulting for your business

Talk to our team