The insurance industry has its own language from actuaries to adjusters and acronyms to calculations. The designee will be able to understand what goes into the Loss Run calculation, including the calculation of the reserves. We go through a proven step-by-step system to calculate the claim costs.
We will show the claim cost of a broken ankle injury for a prepared employer and the same injury for an employer with no plan through the use of a Reserve Worksheet; the same formulated worksheet that a Tennessee Claims Adjuster uses. Utilization and understanding of the Reserve Worksheet as an effective tool to enable the Claims Executive to communicate with the stakeholders to develop a true and accurate cost of a claim. This tool will be utilized to progress old claims that have stalled in the claims process.
Chapter Ten content plugs the missing piece, especially for a Tennessee employer with reserves. The practical methods will show example after example how to communicate effectively with all stakeholders to bring claims to a final conclusion in the most effective manner.
-Check out the Introduction video for Chapter Eleven-