Third Party Administration
As a multi-line property and liability third-party administrator, we help our clients manage their exposures to risk and contain their costs by providing them with high quality professional claims management, underwriting, safety consultation and administrative services.
Property and Liability Claim Management
Our staff has extensive expertise in handling a wide variety of claims - from claims for damage to real property and auto physical damage, to claims alleging civil rights violations, discrimination, false arrest and environmental impairment.
Cabot minimizes costs and maximizes efficiency through the process of integrated claim management. We pool all available resources, manage them effectively, and keep all parties fully informed throughout the claim management process.
First and foremost, we perform a thorough and timely initial investigation, utilizing face-to-face interviews by our own adjusters on serious or questionable claims. In complex cases where additional technical expertise is needed, our claim representatives call upon our safety personnel and our medical case consultants to assist in the claim investigation process.
Cabot takes pride in promptly paying claims. However, when our investigation demonstrates other parties are liable, we take equal pride in vigorously defending our clients' interests. Cabot staff aggressively pursue all avenues or recovery and contribution.
Medical Case Management
Our first priority is always to make sure an injured employee quickly gets the most appropriate treatment. Our job after that is to monitor and manage their care. We have learned that the sooner a professional Case Manager becomes involved, the better the outcome for both the employee and the employer.
Trained as an occupational health nurse, the Medical Case Manager facilitates medical treatment; acts as a liaison between the injured employee and the claim manager; facilitates and controls rehabilitation; and arranges transitional work. This coordinated personalized approach benefits injured workers and helps to hold down claims costs.
The claim manager has ultimate control of each lost time claim and is responsible for performing a complete investigation; payment authorization; evaluation of the claim, including setting and monitoring reserves; negotiation; litigation management; subrogation and second injury fund filings.
Data and Technology Management
Our client's data, including comprehensive underwriting and loss information, is essential to managing risk. We take our stewardship role for that data very seriously. Depending on client specifications, we deliver policy management systems and claim management systems. We provide standardized management reports as well as customized and "on demand" management reports because our clients expect, and deserve, that level of responsiveness. We are well aware of the need to support actuarial, reinsurance, audit and regulatory compliance. Our management reports present underwriting and claim data in clear and concise formats in order to give our clients greater insight into their data. This enables them to better measure performance, identify claim trends and allocate costs. With numerous time saving features, the system allows our representatives to operate at optimal efficiency.
Integrated Loss Control and Workplace Safety Services
Loss Control and Safety Training are essential to any risk management strategy. After all, the best accident is the one that never happens. To help our clients contain costs, we emphasize hazard recognition and analysis, followed by implementation of self-inspection programs. As part of our approach to integrated accident management, we focus on pre-loss and post-loss management techniques.
If a serious accident does occur, our safety consultants work to identify the root cause or the contributing factors, recommend corrective measures, and monitor the effectiveness of these measures, once implemented. When our claims personnel identify an accident trend, they quickly alert our safety consultants who can then recommend appropriate actions to prevent future occurrences. As part of the risk management team, our safety personnel often work directly with our claims personnel to facilitate communication with the client and make sure that loss reports are timely and complete.
Cabot Risk Strategies gives our safety personnel the creative freedom to adapt our services to meet client needs. These may include such varied items as:
- Developing a back, knee or wrist program
- Establishing a safety awards program
- Developing a work-site safety program
- Assisting with Safety Committee formation and implementation
- Implementing CDL, alcohol and drug testing.
- Initiating pre-placement physical programs
- Creating fleet safety and driver training programs
We are experts in working with the most sophisticated programs to help make them even better, as well as working with clients to develop safety programs where none previously existed. We also offer specialized services:
- Exposure and accident analysis
- Industrial hygiene programs
- Video library and on-line training resources
- Property surveys, inspections and appraisals
- Assistance with regulatory compliance issues