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What's wrong with tradition? Nothing, unless following traditional practices and procedures are ultimately costing your insurance companies big money.

By Phil Schreiner | Updated on November 29, 2006

What’s wrong with tradition? Nothing, unless following traditional practices and procedures are ultimately costing your insurance companies big money. And that just might be the case if you’re not savvy to opportunities to save — or make — money during the claim-handling process.

To seasoned adjusters, this philosophy might seem completely foreign. After all, adjusters traditionally have been charged with processing claims in a timely manner, conducting thorough investigations (with the help of their SIU’s) to uncover fraud, making fair and fiduciarily responsible settlement decisions, and avoiding litigious scenarios whenever possible. That’s all well and good. But actually creating profit during the process? It begins to sound like a potential bad-faith scenario.

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