Looking for a partner who can handle your #marineclaims from the ground up? Thatโs a Third Party Administrator (TPA) for you!
๐ ๐ช๐ผ๐ป๐ฑ๐ฒ๐ฟ๐ถ๐ป๐ด ๐๐ต๐ฎ๐โ๐ ๐ฎ ๐ง๐ฃ๐?
A TPA is an ๐ถ๐ป๐ฑ๐ฒ๐ฝ๐ฒ๐ป๐ฑ๐ฒ๐ป๐ ๐ผ๐ฟ๐ด๐ฎ๐ป๐ถ๐๐ฎ๐๐ถ๐ผ๐ป that helps insurers, brokers or companies to process claims under a marine insurance policy.
In other words, if you wish to outsource some steps of your claims process, ๐๐ต๐ฒ ๐ง๐ฃ๐ ๐๐ถ๐น๐น ๐ฎ๐ฐ๐ ๐ผ๐ป ๐๐ผ๐๐ฟ ๐ฏ๐ฒ๐ต๐ฎ๐น๐ณ. As if it were a bridge between you and the policyholder.
๐ ๐ช๐ต๐ฎ๐ ๐ฐ๐ฎ๐ป ๐ฎ ๐ง๐ฃ๐ ๐ฑ๐ผ ๐ณ๐ผ๐ฟ ๐๐ผ๐ ๐ถ๐ป ๐๐ต๐ฒ ๐ณ๐ฎ๐ฐ๐ฒ ๐ผ๐ณ ๐ฎ ๐บ๐ฎ๐ฟ๐ถ๐ป๐ฒ ๐ฐ๐น๐ฎ๐ถ๐บ?
Anything and everything! TPAs offer ๐ฒ๐ป๐ฑ-๐๐ผ-๐ฒ๐ป๐ฑ ๐ฐ๐น๐ฎ๐ถ๐บ๐ ๐ต๐ฎ๐ป๐ฑ๐น๐ถ๐ป๐ด:
- First notice of loss
- Data analysis
- Legal counsel
- Survey coordination
- Loss adjustment
- Claim mitigation & salvage
- Recovery
In a nutshell, your TPA can deal with every step leading to your marine claim settlement, from A to Z.
๐ ๐ช๐ต๐ ๐ผ๐๐๐๐ผ๐๐ฟ๐ฐ๐ฒ ๐๐ผ๐๐ฟ ๐บ๐ฎ๐ฟ๐ถ๐ป๐ฒ ๐ฐ๐น๐ฎ๐ถ๐บ๐ ๐บ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐?
Thousands of ships travel across the globe every year. So, when things go awry, it may well be on the other side of the worldโฆ with the challenges this poses when it comes to claims handling.
From where you are, you may lack:
- On-site operational control
- Staff to handle marine claims on a global scale
- Understanding of the jurisdiction governing the claim
You may overcome these and other stumbling blocks by relying on a third party to handle your claim.
๐ ๐๐ผ๐ ๐ฐ๐ฎ๐ป ๐๐ผ๐ ๐ฏ๐ฒ๐ป๐ฒ๐ณ๐ถ๐ ๐ณ๐ฟ๐ผ๐บ ๐ต๐ถ๐ฟ๐ถ๐ป๐ด ๐ฎ ๐ง๐ฃ๐?
TPAs offer white-labelled claims management. They reflect your image and values to your insureds, as if they were a member of your own staff. Meanwhile, youโll ๐ณ๐ฟ๐ฒ๐ฒ ๐๐ผ๐๐ฟ ๐ถ๐ป๐๐ฒ๐ฟ๐ป๐ฎ๐น ๐ฟ๐ฒ๐๐ผ๐๐ฟ๐ฐ๐ฒ๐ and ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ ๐๐ผ๐๐ฟ ๐ผ๐ฝ๐ฒ๐ฟ๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ฒ๐ณ๐ณ๐ถ๐ฐ๐ถ๐ฒ๐ป๐ฐ๐.
By outsourcing, youโll be on your way to:
๐ฏ Enhancing your customersโ claims journey
๐ฏ Improving settlement speed
๐ฏ Driving down indemnity spend
Furthermore, since they can offer end-to-end claims solutions, youโll have a ๐ผ๐ป๐ฒ-๐๐๐ผ๐ฝ-๐๐ต๐ผ๐ฝ ๐ณ๐ผ๐ฟ ๐ฎ๐น๐น ๐๐ผ๐๐ฟ ๐ฐ๐น๐ฎ๐ถ๐บ๐ ๐ป๐ฒ๐ฒ๐ฑ๐. This leads to streamlined reporting and, most importantly, peace of mind. Both for you and your insureds.
