Member:
Council Of
International Investigators
World Association
of Detectives
National Law
Enforcement Association.
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Risk
Management Consultants
RMG
Consulting, in conjunction with Phoenix Research Investigations,
is an insurance consulting firm supporting Risk Managers, Insurance Companies,
Managing General Agents and Reinsurers. Our highly experienced
personnel have developed proprietary statistical benchmarking methods to
track claim performance, and select claims for audits.
Our
goal is to provide our clients with the greatest value for their
investment by only using consultants who have substantial successful experience
in the line functions and management of their areas of expertise. These
are nationally recognized experts in their respective fields. By conducting
all business dealings and assignments with the highest degree of professional
ethics our aim is to develop long term partnerships with clients characterized
by the completion of our work in an exceptionally timely, cost efficient,
high "value added" and competent manner.
RMG
Consulting (RMG) has developed and copyrighted an auditing
and benchmarking process to statistically review each component of the
claims handling process and individually benchmark each activity.
Results are then summarized and ranked in importance. This new process,
combined with our claims auditing and operational experience, allows us
to design an extremely effective measurement program that will reduce costs
and recover loss funds.
To
maximize the results, an auditor should be aware of the most
significant areas for improvement before the claim files are selected for
audit. This results in maximizing savings and minimizing operating expenses.
We believe that audits should suggest ways to improve processes that result
in “real” savings. Our goal is to reduce losses and allocated expenses
through the use of focused audits. This includes reviewing the following:
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Reducing escrow
levels by reviewing loss-funding procedures
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Returning funds,
and reducing the incurred, from uncashed claim checks
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Reviewing large
loss prefunding requests to ensure that these funds are not sitting idle
waiting for a claim to close
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Ensure that only
covered claims are paid by reviewing the coverage verification process
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Statistically benchmarking
claim settlements, managed care, litigations, allocated expenses and recoveries
to identify specific branch offices and examiners for focused audits
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Using systems to
identify where claim reserves are too high, or too low
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Determining areas
where the time to report a claim or the time to close a claim is significantly
increasing the ultimate incurred
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