We achieve strong claims outcomes by following a vigorous and holisitic process of claims management that encompasses all aspects; from initial incident review, to proactive claims management, to risk analysis and reporting. Our process is outlined below.
1. Notifications Management
We lodge and manage ‘notifications’, namely – incidents which could potentially give rise to a claim. We:
a) remove inhouse administration responsibilities and burdens
b) track risk trends within the business
c) store all incident data in a confidential and secure database
2. Claims Management
Under-deductible
In the event of a claim (ie. demand for compensation), we:
a) review evidence on database to determine your liability exposure in line with legislation and common law and explains why
b) analyse the quantum of the claim based on evidence, whilst setting reserves and implementing strategies
c) prepare advices and request settlement instructions before proceeding to resolve the claim expeditiously before Court proceedings are commenced
Over-deductible
In the event that a claim exceeds your agreed deductible, we:
a) act as an influential advocate throughout the duration of the claim to protect your interests
b) ensure open communication with all stakeholders, such as panel law firms, Insurers and other third parties
c) manage defence costs to ensure reasonableness and to protect your bottom line
3. Risk Reporting
As Risksmart retains incident and claims data, we are able to produce reports identifying key risks within the business and incident trends, We:
a) provide data analysis with the aim of reducing to reduce claims costs and future exposures
b) offer industry-relevant updates on the latest case law
c) make recommendations to improve business procedures and in turn defence prospects against claims