How do our solutions work?
From loss adjusting to forensic accounting, building surveying, engineering and legal - we have the skills and expertise to advise you on all aspects of a claim.
Our approach includes:
- Determining the policy coverage applicable to the loss
- Evaluating the extent and detail of the documentation required to support the full value of the loss suffered
- Gathering and collating the necessary data to quantify the claim
- Preparing and presenting the claim submission in the correct format required by insurers and their experts.
Our products and services include:
Claims Preparation: Our claims specialists are highly experienced in handling confidential issues with insurers and their experts. We gather and prepare the correct documentation insurers require to ensure the final settlement meets with our client’s expectations. How data is presented to insurers is key to optimising claim recovery - we know precisely what information insurers require and the best way to present it. Our team works closely with you to retrieve and prepare the information needed to document a loss and ensure a speedy recovery.
Forensic Accounting: Our consultants have established credibility with insurers and their experts, which is crucial when agreeing claim quantum. We model the likely loss range early in the claims process and at regular intervals throughout the claim, so that expectations are properly managed for the client and insurer. We work closely with you to locate and retrieve relevant, and accurate financial information. We ensure it is appropriate and presented with suitable explanation and rationale to evidence the correct value of your claim. Our claims submissions are robust and stand up to the scrutiny of experts to ensure you can negotiate from a position of strength and recover the optimum claim value. Our service, which includes a claims report and presentation; provides major cost and time savings for clients.
Business Interruption review: Our experience is that the most common causes of claims failure are inadequate sums insured, limits and inappropriate policy cover. A detailed analysis of your Business Interruption (BI) insurance will enable you to establish the adequacy of your cover, secure the best deal from the market and refine your strategic risk management. Our review will identify the scale and location of the insurable business risk exposures, key vulnerabilities and interdependencies in your operations. This is dovetailed with a review of the existing insurance wordings, declared values, indemnity periods, deductibles and policy limits to stress test the cover. Our report comments on the adequacy of the current policy with recommendations for improvements.
Problem claims: We apply a pragmatic and cost effective approach to resolving claims which have reached an impasse in negotiation or have failed to settle satisfactorily. Our team quickly investigates and assesses the situation to provide an honest view on the strengths and weaknesses of your position. As part of a resolution strategy, our team evaluates the best options available and recommends an appropriate course of action, avoiding the need for costly and unnecessary legal intervention.
Policy stress testing: We have developed a stress testing' methodology to establish whether your policies will respond in a claim situation as you would expect. We analyse your policy wording and work with you to develop realistic loss scenarios which we map against the existing insurance coverage to identify your insured and uninsured risks. We highlight gaps in policy coverage and ambiguities in policy language as well as recommending appropriate solutions.
For further information, please contact Candy Holland, Managing Director, Echelon Claims Consultants on +44 (0)207 558 3230