The ELAM Group: Shaping A New Paradigm in Environmental Claims Handling Industry

Top 10 Claims Processing Companies – 2022

An insurance provider collects premiums, oversees reserves, and handles claim payments. Traditionally actuaries have been using the claim data to aid them with calculations of premiums and reserves and to do actual vs. projected claims comparisons. A more significant position for actuaries in risk management is emerging today, and they are using technology to help fight the fraud and operational inefficiencies that plague the claims process.

Typical insurance firms store the information about their brokers and claims service providers in files, spreadsheets, and manual papers. The information is dispersed throughout multiple agencies and offices in various places and jurisdictions, thus there is a great risk that it may become outdated. Allowing the insurance company to standardize data collection based on data profiles in a single location available to all qualified corporate stakeholders via access profiles is one approach. Every third-party service provider has a profile where they may access and update their information.

The choice to replace the current claim management process with a technology solution is a significant undertaking that demands time, effort, and financial resources. Senior stakeholders must therefore approve the proposal and budget for it. The problems that need to be solved must then be identified with clarity in order to create a product specification document with workflow processes. Finally, there needs to be a buy-in from the actual employees that work with the claims on a day to day basis.

Auditability may benefit from blockchain’s immutability, and machine learning may be able to identify significant hazards that present algorithms are unable to. However, tried-and-true technology can already help with claim management; centralized databases and straightforward algorithms will be an improvement over scattered spreadsheets and manual procedures. To paraphrase it in a nutshell, the act is about managing the risks.

    Top Claims Processing Companies

  • The ELAM Group provides worldwide talent and a personal touch to match its unparalleled expertise. Whether engaged in highly contentious litigation, assisting firms with claim oversight or performing environmental contracting, its services have their client’s specific needs in mind

    elamusa.com

  • All Claims Adjustment Bureau has expertise in a diverse range of areas, ranging from auto and trucking liability incidents to landlord and tenant disputes. The company also deals with claims involving construction injuries, elevator accidents, fraud, pest-related incidents, product liability, water damage, and property damage.

    www.allclaimsadjustment.com

  • Brentwood Services Administrators, Inc. (Brentwood)—a leading provider of insurance-related services—is at the cutting edge of offering a customized, comprehensive suite of claims administration solutions. Operating across the continental U.S., it caters to self-insured employers across various industries, including healthcare, education, utilities, and public entities.

    bwood.com

  • CDS

    CDS

    CDS, a freight claims processing expert, has architected an innovative and effective approach to helping shippers with loss and damage claims recovery. It works with clients of all sizes, from Fortune 100 corporations to small and family-owned companies

    freightclaim.com

  • Enviant is focused exclusively on providing a comprehensive suite of environmental products and services to a range of commercial clients. With a highly experienced multidisciplinary team of underwriters, claims experts and technical experts, the firm delivers integrated solutions that guard against today’s environmental risks.

    enviant.com

  • Pinnacle Unemployment Services and Consulting is an innovative consulting company helping businesses with their unemployment insurance (UI) needs. With more than two decades of consulting, technology, and process management experience, the company has become the go-to partner for numerous organizations to comply with mandatory state UI regulations and avoid costly UI mistakes that can cost thousands of dollars a year.

    pinnacle-usc.com

  • Skyward Specialty Insurance is a specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. It helps insurance brokers and adjusters embrace digital claims with its sophisticated digital tools, unconventional thinking, and execution excellence to deliver greater value across the end-to-end claims customer journey.

    www.skywardinsurance.com

  • PB Adjusting

    PB Adjusting

    PB Adjusting is a firm owned by two seasoned public adjusters assisting insureds in documenting damaged property claims the right way and gaining the best coverage. The firm is well capable of performing all the special duties after an insurance loss and preparing their own estimate in the industry standard software—Xactimate—to compare with the insurer’s estimate and handle negotiations to reach a proper settlement

  • Crawford & Company

    Crawford & Company

    Crawford & Company is a global firm focused on solving claims-handling challenges for businesses around the world. Its services include loss adjusting, third party administration, managed repair, medical management, on-demand services, and catastrophe response

  • Gallagher Bassett

    Gallagher Bassett

    Gallagher Bassett is the premiere property/casualty third-party administrator, offering strategic insights and services in the areas of risk management. Gallagher Bassett’s full range of risk management services includes unsurpassed claims handling capabilities and expertise; superior outcomes demonstrated via advanced analytics; medical management; risk control consulting and appraisal services

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