Insureds and insurers alike have been met with unexpected challenges over the last few years – pandemics, natural disasters and global supply chain issues. And there’s no slowing down with the recent great resignation, rising inflation rates and looming recession. So, it’s no wonder there’s been a huge shift to on-demand insurance plans.
On-demand is everywhere from video streaming to app food delivery services and gig-economy task professionals. Insurance is no exception with insureds looking for relevant coverage with the flexibility to tap into it when needed and TPAs like Gallagher Bassett are key to servicing this new wave of insureds by supplying on-demand support. The delivery of on-demand talent means you can take advantage of a variable staffing model to ease the constraints of in-house resourcing and finances without the associated costs or risks – making it more convenient for you to scale up your team when and where you need it most.
There’s a strong opportunity for insurers to tap into this tailor-made service offering. Here are our top three reasons to leverage on-demand support.
1. Cost Containment Strategies
Gallagher Bassett understands that the financial needs of insurers are constantly evolving with the complex nature of the economy and costly job market for expert talent. Our service allows you to scale up – or back – when needed – allowing insurers to improve profitability and cost-effectively expand your resourcing. An on-demand approach to claims management reduces in-house fixed costs as your can deliver best-in-class service without the cost of attracting, training and retaining top talent. Our flexible approach to claims management is designed to give insurers an innovative and cost-effective solution to some of the most constricting challenges.
2. Improve the customer experience
Customer retention is the ultimate goal for any business. In a sensitive environment, exceeding the expectations of your insureds is the secret to retention, as is servicing the market when demands change.
On-demand support and resourcing from a TPA who not only understands your business operations but has the expertise and industry know-how to deliver superior claims management, no matter the circumstance, is the secret to exceeding expectations. Let Gallagher Bassett’s experts become an extension of your team and tap into claims management resourcing at peak times or when your internal resources are otherwise occupied. This means, your customers still receive superior service and a safe pair of hands no matter when.
3. Maintain a competitive edge
Outsourcing claims management will help you stay competitive as you are able to continue strengthening your brand and growing your business. On-demand support from your TPA allows you to strategically grow as you leverage their footprint and expertise to expand your reach and service offerings.
Processing claims can also be a time-consuming process that takes internal resources away from progressing other business critical projects. When that is the case, it’s time to engage a TPA to pick up the claims management slack and free up your team’s time to focus on the core business activities that will advance your market position.
As you push forward into what’s next for your business, on-demand support can also help you increase your productivity and profits by tracking claims performance. Through extensive reporting and analytics, like those delivered by Gallagher Bassett’s award-winning RMIS LUMINOS, you can keep track of what’s working and benchmark your performance to identify areas for continued growth and improvement.
Outsourcing your claims management services streamlines the allocation of internal resources and frees up wasted capital to ensure that you are adaptable and responsive to market changes and global events.
Together, our team of experts are more than just a TPA. As a dedicated extension of your team, we will work with you to design complete claims management solutions tailored to your specific goals and budget to deliver enhanced operational outcomes, enable focused scalability, and the chance for you to harness your growth potential.
Connect with an expert today to explore your on-demand claims management needs.
