Risksmart 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.
Proactive Management of Claims
Risksmart will undertake thorough assessment of policy coverage, liability exposure, quantum, defense/recovery prospects, and devise an appropriate resolution strategy with engagement of experts as necessary.
Engagement of Experts
Risksmart have a tested panel of loss adjustors, engineers, building consultants and forensic loss preparers that provide quality services at competitive panel rates. Risksmart closely manage engaged experts from a select panel to ensure costs are controlled and claims are progressed proactively.
Market Leverage and Experience
Risksmart have a team of legally qualified and highly experienced insurance claims professionals who specialise in multiple lines of insurance. We leverage our expertise to achieve the best outcomes, avoiding policy leakage and ensuring high levels of claims service to your Insureds.
Trust Fund Management
Risksmart will implement a rigorous and stringent settlement process from a managed Trust Fund. Settlement will require two signatories and a quality controlled payment request process. All monthly payments will be reported to co-insurers in a monthly bordereaux, with separation between indemnity and expense costs. The monthly bordereaux will track reserves, paid to date, and incurred values, including erosion of any aggregate.
Comprehensive Risk Analysis
Risksmart utilise a sophisticated claims platform to produce detailed bordereaux and risk analysis reporting to identify and manage emerging risks in location, causation, and season, facilitating underwriting analysis and protecting the book.