Investing in claim auditing services is a proactive and cost effective way to impact a carrier’s bottom line. Providing services on an international level, the Claims Auditing practice covers virtually all lines of insurance claims, including environmental, mass tort, products liability, auto, construction defect, workers’ compensation, health care, professional liability, and commercial property. Our auditors average over twenty-five years of experience, and many have held senior management positions at major Property & Casualty carriers. This experience gives us a complete understanding of the issues and problems that our clients are faced with.
An operational audit of an international client’s claims department resulted in complete reorganization of staffing levels and procedures. Reserve reductions totaling over $25,000,000 were realized based on Alan Gray LLC’s file audit and the open file inventory was reduced by 35%.
A client requested an audit of claims under a complex reinsurance contract involving a large hospital group and multiple years of medical malpractice coverage. The audit identified a significant claim with serious coverage issues under the client’s contract resulting in savings of $1,000,000 for the client.
A global insurer requested a comprehensive audit and analysis of claim files and related jobsites to develop a model for non-product allegations. The insured was a distributor/contractor but was billing all losses as products. The audit identified a significant percentage of claims as non-products. The client was able to utilize this information to negotiate a settlement that resulted in savings of over $10,000,000.