Claims Reengineering and Risk Management
In an increasingly interdependent marketplace, the impacts of risks such as those associated with catastrophes, integrated supply chains, product recalls, business interruption, class-actions, and myriad stakeholder issues, have driven claims to new levels of complexity and uncertainty.
In this unpredictable environment insurers, reinsurers, brokers, captives, risk retention groups, other insurance providers, and corporations and their counsel rely on the FTI Consulting Insurance Practice to help analyze loss potential and reserves, assess and improve claims operations, perform due diligence, and provide expert testimony and other litigation and dispute resolution support services.
Meeting the Challenges
As insurance products become more commoditized and competitive, insurers must move from a product focused approach to a customer centric approach that leverages enterprise and marketplace intelligence to differentiate through improved customer performance. Nowhere is this more important than in the underwriting and claims functions, where the intersection of customer needs and services are most critical.
The interrelated nature of claims with other financial and operational functions requires a multi-disciplinary team with deep insurance industry experience and expertise to understand and identify claims problems and develop solutions. Our team members include actuaries, claims specialists, CPAs, forensic accountants, and investigators with hands-on financial, operational, data analytics, and legal/regulatory experience in the full range of claims functions across all lines of business within insurers, reinsurers, captives, risk retention groups, and brokers.
Our consultants have experience and expertise spanning a broad range of industries requiring standard and specialty lines, including auto, property, surety, workers compensation, business interruption, general and professional liability, medical malpractice, accident and health, asbestos and other health hazard mass torts, environmental, bonds, finite reinsurance, and catastrophe and terrorism.