Elevating

Risk Management

Today’s risk management solutions mean asking what’s next.

As a solutions company, our job at Artex is to deliver results. We offer a full range of alternative risk management options and provide the risk management tools that allow businesses to thrive. Our tools not only take into consideration an operation’s experience but also examine what lies ahead. By so doing, we take a proactive, risk-enabled approach that gives businesses the information they need to make changes and the flexibility and agility to seize new opportunities. We understand that today’s environment means companies need to meet constant market, demographic and regulatory changes through ongoing operational and strategic evolution.

Our services are designed to minimize corporate risk; proactively mitigate losses; strengthen workplace safety, return-to-work, and wellness programs; address OSHA compliance and regulatory changes; effectively manage claims and expenditures; and assess whether current solutions continue to align with a client’s operational and strategic goals. At Artex, we believe there is an upside to risk when the right solutions and services are in place for our clients.

Claims Analytics Solutions

Artex Analytics provides a continuum of hands-on oversight and management of day-to-day claims operations to help clients gain greater control over the processing and outcome of their claims. We will identify claim trends and anomalies that allow us to employ proactive strategies to mitigate risk, reduce loss costs and facilitate fair claim resolutions. We’ll conduct client or Third Party Administrator (TPA) semi-annual case reviews to move claim files along to their successful conclusion. Our claim advocates will review the files, address action plans and make recommendations to expedite the closure of a claim. Moreover, the implementation of a comprehensive renewal support program for our clients is critical to helping the business successfully move forward year after year.

Empowering Clients

Integral to effective risk management is helping our clients take greater control of each segment of their risk program – essential in the continued success of an alternative risk solution. Captives, Risk Retention Groups and self-insureds all benefit from our customized in-depth claims training sessions.

In addition, our Claims Advocacy group supports the captive in its risk management strategy by providing risk control services and workshops and strategic planning committees to address key issues that impact the captive’s ability to reach its objectives.

Captive Health Check

Our Captive Health Check is designed to evaluate whether a current solution is serving the business well and continues to support the owner’s operational and strategic goals. We look at whether the captive is operating as expected, and if anything in the owner’s philosophy has changed that would affect the existing structure. We’ll assess if optimal utilization of captive cash flow is being realized and offer recommendations where improvements can be made. We will review governance issues to ensure that the captive is operating in accordance with the laws and regulations of its home domicile and whether the existing domicile is still meeting the needs of the owner.

Our Captive Health Check is offered to our clients where we have set up the captive or another alternative risk solution as well as to others looking for expert analysis and clarity on their program.

Claims Management

Daily processing done differently

Claims management is a pivotal part of the insurance program management. Operating out of our London office, our claims team handles in excess of 3,000 claims a year using web-based technology to enable efficient management and settlement. On-line notification, document management tools, analysis and management information tailored for individual clients are key features of our offering. The flexibility and systems capabilities that we employ allow us to create bespoke programs for clients with particular claims needs.

Claims Analytics

Taking Control Over Claims

At Artex, we manage and administer the claims process to provide clients with optimum outcomes and help them take control of their costs. This involves examining every reported claim to identify cost-reduction opportunities with the goal to garner faster, more effective claims resolutions. We also serve as an advocate for our clients to ensure a fair financial evaluation during settlements.

We apply our multi-line expertise to analyze the global impact of a claim across our client’s entire business, and develop risk strategies focused on enterprise-wide risk reduction. 

Our Services

Claims Administration Assessment: Our staff will perform an in-depth audit to evaluate the efficacy of the client’s current claims administration, identify any claim trends or anomalies. Based on our analysis, we will recommend ways to improve claims management outcomes. This is particularly helpful in assessing the collateral requirements or projecting potential dividend returns of loss-sensitive insurance programs.

Claims Oversight Services: We provide a hands-on approach for clients that partially or completely outsource their claims administration. This includes examining notices of injury triage, subrogation management, lag management programs, litigation oversight and management, return-to-work programs, identification of potentially large loss claims, management of PPO networks to improve penetration, adjuster oversight and much more. 

Semi-Annual File Reviews:  Our staff will review your Third Party Administrator (TPA) cases, address action plans and recommend specific strategies to expedite the closure of a claim. We will coordinate with front-line adjusters to ensure all resources are properly directed.

Client Training:  We help empower clients by putting the knowledge they need into their hands through educational sessions. These sessions are designed to address specific client needs, and may be conducted as workshops. Topics cover basic claims information, efficient claims reporting systems, managing first-care contacts, lag management, stay-at-work/return-to-work, managing a worksite PPO/MCO program, communicating light duty assignments, accident investigation skills and others.

TPA Selection & Program Implementation: The right fit between a client and a TPA is instrumental to a successful risk management program. The TPA is the gatekeeper to an insured’s claim. If the TPA performs well this will lead to lower premiums, decreased expenses and reduced collateral. Our in-depth qualification process ensures the most appropriate match between clients and service providers. Our data management services allow for efficient program transfer and/or implementation. 

Program Renewal & Support: Our proactive analysis of a client’s risk exposures, claims trends and handling proficiencies enable us to provide clarity to the renewal process and help define ongoing directional strategy.

Who Benefits from Artex Analytics

  • Group Captives and Alternative Risk Programs
  • Run-off or expired business affecting collateral
  • Insureds wanting to quantify ultimate claims reserves
  • Insureds with retention, captive or loss-sensitive programs
  • Program managers needing dedicated risk management resources
  • Brokers and Agents that do not have in-house claims specialists
  • Insureds seeking to evaluate or change claims administration providers
  • Insureds needing supplemental claims staff or lacking internal claims staff

Claims Advocacy

View risk management through multiple lenses

Risk management is all about value protection and creation. To avert losses and recover more efficiently when an event does occur, businesses need an advocate – a partner that can look at risk from all angles and assist in developing a coordinated plan for long-term success. Artex Claims Advocacy puts the power of our expertise in the hands of captive clients to help mitigate losses through effective risk management strategies and loss prevention. 

Our goal is to minimize claims costs and return underwriting profits to our clients by helping members improve their performance, which directly impacts each firm’s bottom line and that of the captive itself. Our Claims Advocacy group is committed to empowering members of the captive to incorporate as part of their company culture a strong mindset of risk management and safety.  

Artex essentially becomes an outsourced extension to provide seamless risk management services. Our core services include: 

  • Risk Control Services Oversight: Our staff oversees the captive’s service providers, ensuring they are working appropriately with each client; reviews trends, losses, and action plans; and reviews and monitors each member’s performance under our Special Attention Program (SAP).
  • Risk Control Workshops & Board Meetings: We’re at the forefront in facilitating risk management workshops and spearheading board meetings for captives where key issues are addressed and reviewed. Members and their risk management teams have an opportunity to brainstorm and become educated and equipped to achieve greater control over their success.
  • Strategic Planning Committees: Each member’s safety or risk manager in the captive is given a voice, coming together at quarterly meetings to address key issues that impact the captive’s ability to attain its goals. 

We also provide key supporting services, including communication vehicles such as surveys, websites and blogs for information sharing; claims consulting; large loss reviews; carrier audits and claims reviews.

Captive Health Check

Know when to reassess

As a solutions company, our job isn’t finished once the captive has been established. In fact, we help our clients continuously monitor their programs making sure it is responsive and adaptive to their needs. The captive must evolve as insurance needs and the business environment change.

As a Captive owner, you know how much time, effort and analysis was put into to form the captive, but once it is implemented and operational, how often are those issues and questions, which were analyzed so thoroughly at the beginning, revisited? Is the captive aligned with the operational and strategic goals of its owner? Has the owner’s philosophy changed since the captive was formed, and has the captive adapted? Has the captive been operating as expected?

While these questions may have been addressed, it is often done in a reactionary state and not particularly formalized. In today’s world of increased scrutiny and corporate governance, it becomes clear that alignment of the captive within the corporate strategic plan and governance structure should not be ignored.

By entering into a Captive Health Check with Artex, our experts will review:

  • Current goals and strategies of the captive owner
  • Current captive participation–is it still beneficial and necessary?
  • Expansion of captive participation–pros and cons of expanding the captive to other risk financing areas
  • Maximizing utilization of captive cash flow
  • Captive domicile–is it still fulfilling the needs of the owner?
  • Governance issues–is the captive operating in accordance with the laws and regulations of its home domicile?

Some of these topics are obvious items to consider when reviewing a captive, but often they are shelved due to daily corporate deadlines. This is especially true with shrinking budgets and tight head counts. Our approach is to engage in a conversation and openly discuss your program, which hopefully will energize your captive to ensure it meets your goals.

Building

Relationships

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