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The Hartford ClaimPlus Team(SM) Provides the Third Alternative in
Claims Handling
New claim services model offers account knowledge, flexibility
HARTFORD, Conn., April 18 /PRNewswire-FirstCall/ -- Good claim handling is
increasingly complex, costly and important to a company's bottom line. For
accounts with unique handling requirements, the right service model that lies
somewhere between standard claim handling and a third party administrator (TPA)
is now available at The Hartford.
The Hartford ClaimPlus Team(SM) provides accounts with a designated team of
claim professionals that handle only these unique accounts. The structure
promotes intimate knowledge of the account and provides flexibility to meet its
specific needs. The claim process brings appropriate resources to the claim
for better communication and results.
"The Hartford really understands what risk managers want, and built a new
service model that responds. Its cornerstone is our proprietary triage tool
that uses a predictive model to quickly identify the level of claims expertise
required and route it to the right team member," said Sean Faherty, assistant
vice president of claim account management at The Hartford. "Experience shows
that immediately aligning a claim to the appropriate resource optimizes claim
outcomes."
Standard insurance claim handling works fine for most small and mid-size
companies with straightforward claim needs. TPAs are often a good choice for
large firms that want to pick and choose among unbundled services -- and pay
for their choices. A certain segment of businesses with unique handling
requirements, though, have largely been underserved. To effectively address
their requirements, The Hartford ClaimPlus Team services all property-casualty
claims for The Hartford insurance customers with complex needs, including
geographically dispersed losses and a minimum of $400,000 in premium. This is
a threshold below the traditional TPA focus.
To meet these needs, The Hartford has established a dedicated ClaimPlus team in
each of its claim centers that specializes in larger accounts. Each team
ClaimPlus team is staffed with the following members:
* A claim service consultant (CSC) who serves as primary point of contact
with the client company and develops a service plan;
* A team manager to execute the claim service plan and ensure adherence
to pre-determined special procedures;
* A team leader to manage the process;
* A complement of claim handlers who specialize in different lines of
business and different levels of claim complexity.
The structure of The ClaimPlus Team enables use of The Hartford's
specialization and segmentation capabilities to align each claim with a
professional who has the appropriate claim expertise.
The Hartford ClaimPlus model emphasizes communication, flexibility and
comprehensive claim handling and account knowledge. "We designed ClaimPlus
with our customers' high expectations in mind. There are other good insurers
doing some of what we're doing here, but we've put all pieces together in a way
that really differentiates our claim handling," Faherty said.
Risk manager feedback has been very positive.
"After 44 years in risk management, I appreciate the value of a responsive team
that understands my business needs and works with me," said Larry Garman, risk
manager at Riggs Industry in Boswell, Penn. "The ClaimPlus team gets me
involved at every level, even with Medical Only claims to keep them from
escalating into lost-time cases. Sometimes a claim's needs will go up or down,
but since the claim stays within the team it works well."
For further information, Hartford agents should contact their local
underwriter.
The Hartford is one of the nation's largest financial services and insurance
companies, with 2004 revenues of $22.7 billion. The company is a leading
provider of investment products, life insurance and group benefits; automobile
and homeowners products; and business property-casualty insurance. The
Hartford's Internet address is http://www.thehartford.com/.
Some of the statements in this release may be considered forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995.
We caution investors that these forward-looking statements are not guarantees
of future performance, and actual results may differ materially. Investors
should consider the important risks and uncertainties that may cause actual
results to differ. These important risks and uncertainties include those
discussed in our Quarterly Reports on Form 10-Q, our 2004 Annual Report on Form
10-K and the other filings we make with the Securities and Exchange Commission.
We assume no obligation to update this release, which speaks as of the date
issued.
Contacts:
Sue Honeyman
860-547-4976
Victoria Gallant
860-547-4938
DATASOURCE: The Hartford Financial Services Group, Inc.
CONTACT: Sue Honeyman, +1-860-547-4976, , or
Victoria Gallant, +1-860-547-4938, , both of
The Hartford
Web site: http://www.thehartford.com/