In the world of managing claims, it is easy to view third party administrators (TPAs) as a commodity - brought in as a process workhorse to help with open claims. However, this reactive approach doesn’t help risk managers to execute long term solutions effectively.
A reactive TPA will craft solutions based on surface problems and without asking if their answers are good or bad. For example, if key performance indicators are not tracked clearly and transparently, the process can go wrong from the start. This leads to incorrectly identified claims drivers and incomplete metrics which don't tell the story with a beginning, middle and end making it one of the main struggles risk managers face.
To be proactive and productive, risk managers need a clear and concise communication channel, yet most are hunting for solutions to past claims in mounds of emails and spreadsheets.
With its combination of cross-functional experts and technology, Broadspire has the resources to help strengthen the work of risk managers and bring their visions to life.
Click here to read our white paper and learn more.