Which is the way to go—multiline or specialized?
Partner Claims Service's Jim Davis is one of four CLM members who answered this month's question.
“The trend to specialized can only work if insurers are committed to an aggressive rotation program that provides for the development of deep technical knowledge with some and prepares others with the required broad-based knowledge to lead an efficient and effective claims organization in the future.”
1. Karen Furtado, Partner, Strategy Meets Action. CLM Fellow since 2014.
“Multiline is easier for the loss adjusting or TPA firms because it reduces their costs. However, the approach we employ is offering specialized claims management professionals. They provide the client with the best service, results, and, ultimately, value.”
2. Jim Davis, Principal and Executive Vice President, Partners Claim Services Inc. CLM Fellow since 2007.
“I like interacting with an experienced, seasoned veteran of the claims wars on matters that I defend. It helps if they are conversant in the area of law in which we are engaged. It makes a lot of sense to have specialized claims professionals.”
3. Bill Nebeker, Partner, Koeller, Nebeker, Carlson & Haluck LLP. CLM Member since 2009.
“We have areas where we are specialized, but we also utilize multiline adjusters. I think it is important to look at people with certain personalities, skills, and talents and allow them to move into other areas and grow. It is critical to keep associates engaged in their roles and continuously learning.”
4. Teresa M. King, Vice President and Chief Claims Officer, Motorists Insurance Group. CLM Fellow since 2010.
Percent of corporate value related to the intangible assets of brand, people, and intellectual property. Source: Deloitte
The projected number of new positions in the claims adjusting and investigations occupations from 2012-2022. Source: Bureau of Labor Statistics
Projected percent decrease in the number of auto damage appraisers and examiners between 2012-2022. Source: Bureau of Labor Statistics
Percent of corporate leaders who predict shortages in executive level leadership. Source: Decision Pulse
Percent of unemployment for the insurance industry. Source: Bureau of Labor Statistics