The practice offers five key services:
- Risk Process Optimization (RPO)
- Claim Closure Solutions (CCS)
- Third-party claim administrator (TPA) selection services
- Claim Audits Program
- Medical Cost Containment Solutions (MCC)
Risk process optimization (RPO)
RPO can give you fresh and innovative ideas to improve efficiencies, drive down costs and provide greater shareholder value. Ongoing strategic risk planning enables you to prosper, and our proprietary RPO method can help.
An RPO can clarify our mutual understanding of your key financial and operational goals; define your organization’s risk management objectives and activities to align with those goals; and set specific measures and metrics for each objective. The RPO process requires company, claim, risk control and data analytics professionals to partner on these risk-planning strategies. Your RPO efforts will ensure that resources are focused on clear objectives that provide true value to your organization.
Claim closure solutions
Most claim professionals agree that when claims are paid faster, costs are less. Proper and aggressive management of the claim process can facilitate a quicker resolution and lower future payments. Claim closure solutions (CCS) is designed to reduce open claims and total developed incurred losses.
TPA selection
One of the most important decisions a company makes is the selection of its TPA. One mishandled claim could cost thousands of dollars, so the quality of a TPA’s services can significantly impact a company’s income statement and balance sheet.
However, this decision-making process is complex and requires a significant knowledge and understanding of claim administration that Willis Towers Watson’s highly trained and experienced professionals bring to clients so they can make informed decisions.
Claim audit
This important service measures and rates the performance of your claim service providers. A highly skilled and experienced team of Willis Towers Watson claim professionals selects files from your loss history. After reviewing and evaluating the files, we prepare a formal report containing constructive recommendations, actionable observations and an overall rating of your claim service providers. This report will also serve as a benchmark to evaluate your service providers’ ongoing performance.
Medical cost containment solutions
Businesses are challenged every day to control the cost of workers compensation and to improve their bottom lines. Medical data analysis can be the first step in controlling those costs.
Our MCC service offers our clients a strategic approach to reducing costs associated with their workers compensation large deductible and self-insured programs through our MCC analysis, Willis Towers Watson’s proprietary process. Our clients typically realize a savings of 10% to 15% of annual incurred losses. In addition, the savings associated with this program accrue over future years – this is not a one-time savings.
Liability claim consulting
The liability claim consulting team helps clients manage complex liability claims and maximize insurance recoveries connected with many types of difficult exposures, including:
- Asbestos
- Talc
- Pollution
- Chemical exposures
- Concussion/CTE
- Sexual molestation
- Medical devices
- Pharmaceuticals
- Food-borne illnesses
- Construction defects/mold
- Catastrophic events/mass casualties
- Recall-related third-party claims
