After meeting with a major insurance carrier, it was learned that they were utilizing the services of multiple, national investigation vendors who all conducted business the same way. The carrier was spending millions of dollars on multi-day surveillance assignments and flat rate database research resulting in little return on investment.
Claims Bureau USA assisted the carrier’s claim department by conducting investigative training and by promoting red flag awareness. The carrier developed a team of experienced analysts to analyze suspicious claims and to define specific items that warranted additional investigation.
This collaboration between Claims Bureau USA and the carrier resulted in the spending of investigative dollars wisely and in a targeted manner. Often times, and as a result of this collaboration, investigators uncovered significant information during their investigation, which assisted the analyst by providing a clear direction on the future administration of the claim. A combination of investigative practices were utilized including desktop investigation, telephone inquiries and targeted surveillance. The carrier subsequently drove their reserve savings to investigative spending ratio to an eventual high of 60:1.
Another major insurance carrier, with whom Claims Bureau USA is now the preferred vendor, was also utilizing the services of a national investigation vendor. This carrier was spending millions of dollars on surveillance and flat rate database research assignments. The claims department had limited resources and was missing opportunities to develop significant information, which could have impacted claims and resulted in savings.
An investigative plan of action was developed between the carrier and Claims Bureau USA to ensure that the carrier would be provided with all information regarding a subject through a broad based background investigation. This approach resulted in uncovering more information, reducing investigative costs and has attributed to $40 million in reserve savings annually.