07 Jul Claims TPA: Top 5 Reasons To Choose Genoteq
Let’s face it, life as a Claims TPA isn’t easy. Every single caller is upset (for good reason). They want compensation for an accident they believe is not their fault. In many cases, it isn’t and we try to expedite payment to claimants. Other times, liability is denied at the claimant is left unhappy.
Choosing a Claims TPA (Third Party Administrator) to handle your insurance accidents is no easy feat. There are many factors to consider that go beyond experience and fast processing. Knowledge in the Niche your business dominates as well understanding the process as a Claims TPA is critical when managing a profitable insurance program.
However the process goes, working with the right Claims TPA to support your business is key.
Below are the Top 5 Reasons to choose Genoteq as your dedicated Claims TPA:
Customizable Claims TPA Handling Process
No two businesses are the same and that is why we provide more than just claim adjustment as a service. Sure, we’ll process, investigate and pay claims in a timely manner. But claim adjustment is more than that. We use an exact method and process to make sure Insurance Programs are protected for years to come. That process includes a thorough review of each claim and reserve based on the following information:
- Reserves are set after reviewing Facts of Loss, Damages and Injuries sustained
- They will also reflect loss of wages, time off from work and other losses claimed due to the accident.
- We increase reserves based on the information received throughout the claim regarding treatment and the recovery from the injury
- Monthly review of claim files to ensure proper reserves are stated for the file
As a valuable client of Genoteq, we know claims handling is critical to the success of any company when a loss occurs. We try to handle each claim as quickly as possible, subrogate when appropriate and settle when liability is adverse.
We Know Insurance
At Genoteq, we continuously work to provide you with a full service, claim experience for multiple lines of coverage for virtually any commercial vehicle including Truckers, Movers, Ride Share risks and more. We have experience in every line of coverage including but not limited to:
- Auto Liability
- General Liability
- Workers Compensation
- Occupational Injury
- Physical Damage (Comprehensive or Specified Perils & Collision)
Some Claims TPAs try to succeed in multiple Niches. We have over 50 years of combined experience within the transportation industry and that is why we stick with it.
Partners Not in Crime, but Loss Control Strategy
We know you need more than just a firm to cut checks. With our careful oversight, we will also provide you with tools to prevent accidents and understand the losses your Niche experiences by working with your company to:
- Maintain operating platforms
- Provide insight to help clients grow and understand their exposures
- Assist in managing and controlling losses
Beyond working closely with your Safety and Loss Control Staff, we have built custom insurance programs with a built in Claims TPA. Genoteq was created to service clients looking for a specialized claim solution process. Utilizing the latest technology, we strive to implement multiple loss control and claims handling techniques; including but not limited to:
- Driver Analytics
- Customizable claim process dashboards unique to each risk
- Full business oversight to transportation companies
Not a Dinosaur Claims TPA
This may seem unnecessary to say but take it from us, there are many Claims TPAs out there using outdated tools and technology to process claims. We pride ourselves on staying on the forefront of technology utilizing the latest tools to handle claims. Beyond our strategy and focus, we believe in implementing loss control tech to adjust claims and prevent he-said/she-said type situations. We use do this by recommending our clients use the following:
- Internal and External facing cameras in vehicles
- Utilizing our proprietary CarTeq Technology to notify Claims TPA of accidents and
- Driver Analytics that allow businesses to correct bad driving habits to before claims happen
- Customizable claim process dashboards unique to each risk
- Full business oversight to transportation companies
Claims Kind of Suck, but We Don’t!
We know more than anyone, the Claims TPA life can be a tough one. The nature of the business is negative but we do all we can to make it a positive experience for the Programs we service and the claimants looking for a payout. We have the experience to adjust claims in an efficient, timely and fair manner. As your dedicated Claims TPA, we investigate motive and complete extensive investigations to make sure the only claims we pay are ones your business is liable for. We adopt only the best practices in the industry and it is through our stringent processes and systems that you can rest assured your claims handling is in good hands.
Looking for a Claims TPA to handle your Transportation Insurance Program? Contact us Monday – Friday, 8 am – 5 pm CST to speak to our experienced Claims Manager – Stacy Ashton at 800-960-1930.
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