Looking for a partner who can handle your #marineclaims from the ground up? That’s a Third Party Administrator (TPA) for you!
👉 𝗪𝗼𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝘄𝗵𝗮𝘁’𝘀 𝗮 𝗧𝗣𝗔?
A TPA is an 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 𝗼𝗿𝗴𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 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, 𝘁𝗵𝗲 𝗧𝗣𝗔 𝘄𝗶𝗹𝗹 𝗮𝗰𝘁 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗯𝗲𝗵𝗮𝗹𝗳. As if it were a bridge between you and the policyholder.
👉 𝗪𝗵𝗮𝘁 𝗰𝗮𝗻 𝗮 𝗧𝗣𝗔 𝗱𝗼 𝗳𝗼𝗿 𝘆𝗼𝘂 𝗶𝗻 𝘁𝗵𝗲 𝗳𝗮𝗰𝗲 𝗼𝗳 𝗮 𝗺𝗮𝗿𝗶𝗻𝗲 𝗰𝗹𝗮𝗶𝗺?
Anything and everything! TPAs offer 𝗲𝗻𝗱-𝘁𝗼-𝗲𝗻𝗱 𝗰𝗹𝗮𝗶𝗺𝘀 𝗵𝗮𝗻𝗱𝗹𝗶𝗻𝗴:
- First notice of loss
- Data analysis
- Legal counsel
- Survey coordination
- Loss adjustment
- Claim mitigation & salvage
In a nutshell, your TPA can deal with every step leading to your marine claim settlement, from A to Z.
👉 𝗪𝗵𝘆 𝗼𝘂𝘁𝘀𝗼𝘂𝗿𝗰𝗲 𝘆𝗼𝘂𝗿 𝗺𝗮𝗿𝗶𝗻𝗲 𝗰𝗹𝗮𝗶𝗺𝘀 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁?
Thousands of ships travel across the globe every year. So, when things go awry, it may well be on the other side of the world… 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.
👉 𝗛𝗼𝘄 𝗰𝗮𝗻 𝘆𝗼𝘂 𝗯𝗲𝗻𝗲𝗳𝗶𝘁 𝗳𝗿𝗼𝗺 𝗵𝗶𝗿𝗶𝗻𝗴 𝗮 𝗧𝗣𝗔?
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, you’ll 𝗳𝗿𝗲𝗲 𝘆𝗼𝘂𝗿 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗿𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀 and 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝘆𝗼𝘂𝗿 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗲𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆.
By outsourcing, you’ll be on your way to:
🎯 Enhancing your customers’ claims journey
🎯 Improving settlement speed
🎯 Driving down indemnity spend
Furthermore, since they can offer end-to-end claims solutions, you’ll have a 𝗼𝗻𝗲-𝘀𝘁𝗼𝗽-𝘀𝗵𝗼𝗽 𝗳𝗼𝗿 𝗮𝗹𝗹 𝘆𝗼𝘂𝗿 𝗰𝗹𝗮𝗶𝗺𝘀 𝗻𝗲𝗲𝗱𝘀. This leads to streamlined reporting and, most importantly, peace of mind. Both for you and your insureds.