In the latest episode of Adjusted, titled “Ideal Caseloads for Claims Professionals,” with Bill Zachry, hosts Greg Hamlin and Mike Gilmartin dive deep into the innovative strategies that can transform the claims management landscape. Joined by risk management expert Bill Zachry, the episode sheds light on various methods to optimize claims adjuster caseloads, minimize total loss dollars, and ultimately achieve better financial outcomes.
The conversation starts with a lively discussion about the ideal caseloads for claims adjusters. With his extensive risk management background at Safeway, Bill Zachry explains how shifting the focus from managing budget expenses to minimizing total loss dollars can lead to more efficient claim settlements. This approach not only reduces open claim files but also lowers overall costs, setting a model that insurance leaders and claims managers can follow.
One critical aspect highlighted in the episode is the importance of recognizing different skill levels among adjusters. Not every adjuster can meet the standards set by experienced adjusters, and this acknowledgment is crucial for optimizing throughput in claims processing. The potential of AI in handling lower-cost claims is also discussed, emphasizing how technology can free up adjusters to concentrate on more complex cases.
Early intervention in catastrophic cases is another focal point. The necessity of setting time goals for legal conclusions and embedding medical professionals within claims operations are strategies that can significantly enhance the efficiency of the entire claims process. Misdiagnosis can complicate claims, making it essential to involve medical experts early on to prevent unnecessary delays and costs.
Managing pending inventory and developing a robust settlement philosophy are also critical for reducing backlog and ensuring timely claim resolutions. The episode underscores the role of empathy in handling claims, as high caseloads can prevent adjusters from providing necessary support to injured workers. This lack of support can lead to settlements and attorney involvement, further complicating the claims process.
The discussion then moves to the benefits of treating attorneys as partners. Leveraging technology for more straightforward claims allows adjusters to focus on more complex cases, ensuring that each claim receives the attention it deserves. This approach streamlines operations and fosters a collaborative environment where adjusters and attorneys work towards common goals.
Throughout the episode, the importance of empathy, early intervention, and appropriate claim assignment based on adjuster experience is repeatedly emphasized. These values are at the heart of every episode of Adjusted, aiming to inspire listeners to “always do right, think differently, and don’t forget to care.”
The hosts also reflect on their long-standing professional relationship, which has been instrumental in maintaining the podcast’s consistent bi-weekly schedule for four years. This commitment to providing valuable content is evident in their detailed discussions and practical tips, making each episode a useful resource for anyone involved in claims management.
In conclusion, this episode of Adjusted offers a comprehensive guide to revolutionizing claims management. From optimizing adjuster caseloads to leveraging technology and fostering empathy, the strategies discussed by Bill Zachry, Greg Hamlin, and Mike Gilmartin provide actionable insights for improving efficiency and reducing costs. Whether you’re an insurance leader, claims manager, or adjuster, these innovative approaches can transform your claims operation and lead to better financial outcomes.
The episode provides a roadmap for achieving optimal results by focusing on minimizing total loss dollars rather than merely managing budget expenses and recognizing the different skill levels among adjusters. Early intervention, appropriate claim assignment, and the involvement of medical professionals are crucial strategies that can prevent complications and enhance the efficiency of the claims process.
Treating attorneys as partners and leveraging technology for more straightforward claims are additional methods that can streamline operations and ensure that each claim receives the attention it deserves. The emphasis on empathy and early intervention highlights the importance of supporting injured workers and preventing settlements and attorney involvement, which can complicate the claims process.
Ultimately, this episode of Adjusted is a must-listen for anyone involved in claims management. Bill Zachry, Greg Hamlin, and Mike Gilmartin share practical tips and real-world examples that provide a blueprint for success. They offer valuable insights that can transform your claims operation and lead to better financial outcomes. Tune in to learn how these innovative strategies can help revolutionize your claims management approach.