Once a carrier receives notice of occurrence, the goal is prompt and cost-effective claims resolution. The goal of this article is to explore the "Top 10" methodologies and strategies to implement and use effectively. It is never too early to begin resolving the claim, and these methods cover the gamut from almost contemporaneous contact to post-trial appeal. The order is suggestive but not definitive. Thus, insurance claims organizations should carefully explore each to determine if one or more may fit their particular situation.
1. The 15-Day Settlement Offer
Okay, so "15" is not a magic number. It could be 12 or 18, but the point is early—ideally before the claimant is represented. The offer should be fair and reasonable. If it's part of an early settlement or unit or program, then it gives the offer more of an air of formality, sincerity, and process. If your claims representative or investigator can go armed with a check and a release, the likelihood of resolving the claim is thereby increased. State laws regarding claimant contact vary, so be sure to know the law in your state.
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