If you are looking for insurance claim consultants, contact us wherever your domicile. We are independent of any insurance broker, company, loss adjuster, or lobbyist, and have a strong record at triggering commercial insurance for effective payouts across multiple countries. DeshCap uses world leading commercial insurance analytics and methods that have led the team to process over $2 Billion in claims. It is highly recommended that commercial insurance be reworded and updated from the onset prior to the occurrence of a loss.
Importance of Insurance Claim Consultants
Many businesses, small or large, are unaware of the following highlighting the importance of insurance claim consultants:
- Commercial insurance payout ratios greatly favour insurance companies statistically on average
- Insurance companies have the ability to deny coverage even if coverage exists (Strategic Default)
- Insurance Risk can be greatly reduced by clinically triggering an insurance policy
Business Insurance Claims Process
N.B. Large business insurance claims require a clinical execution of the claims process as insurers become literal in their wording interpretations and defend their financials to the greatest extent. The average payout ratio on large claims stands at less than 25% in part due to businesses lacking the expertise to trigger insurance independently from brokers or insurers. It is therefore important for any business to hire independent insurance claim consultants.
As depicted above there are 3 main stages to the business insurance claims process:
1. Positioning Loss – must be done independently of Broker or Insurer
•Word by word scan of relevant policy sections
•Ensuring adherence to notice requirements
•Positioning Loss details to match Policy conditions
•Strategic responses to insurer requests for documentation
2. Insurer internal claims process
•Navigating specific Insurer’s internal claims process
- Authority levels; Personnel; External Counsel
•Leveraging Insurer precedents on similar claims
3. Negotiations with Broker & Loss Adjuster
•Tactical responses to Broker and Loss Adjuster queries
•Leveraging external data on similar claims
- Past court rulings in U.S. and Canada
Litigation of a Business Insurance Claim
Insurance Claims Adjuster vs. Insurance Claims Consultant
An insurance claims adjuster is typically hired by an insurance company to evaluate a claim in relation to the occurrence of a loss. The insurance claims adjuster is compensated by the insurance company and not the insured or the business buying the insurance. So the job of an insurance claims adjuster entails a fundamental conflict of interests. It is therefore important for any business to have insurance claims consultants who are compensated by the business to represent them in the event of a loss or claim. Many insurance claims adjusters call themselves insurance claims consultants as well, so there is a play on words that is being used for marketing purposes. Businesses have to investigate the clients of any insurance claims consultant, alongside their experience, track record, and business model.
Insurance Claims Queries
Many have searched for one of the following online, which are related to business insurance claims in one way or another and require the explanation or expertise of insurance claim consultants:
- commercial property insurance claims
- do insurance claims expire
- how to file a claim with an insurance company
- commercial property damage insurance claims process
- can an insurance company reopen a claim
- commercial insurance claims examples
- how many insurance claims is too many
- how to file a claim for an insurance policy
- commercial property claim examples
- liability insurance claims
- can an insurance claim be cancelled
- insurance claims adjuster
- adjuster for insurance claims
- insurance claims processing
- insurance claims management
- insurance claims for storm damage
- insurance claims examples
- how insurance claims work
- insurance claims data
- insurance claims consultant
- insurance claims experts
- how often do insurance companies do surveillance
- how many insurance claims can you file
- when insurance claim is denied
- insurance claim appraisal