Conduct RFP and Implement Web-Based System for 60,000 Insurance Claims
Design and Conduct an RFP to manage a Fortune 500 client with 60,000 mass tort insurance claims. Wrote and conducted RFP ultimately leading to the selection, purchase and implementation of an interactive state-of-the-art internet-based claims software solution. Successfully negotiated for the client’s third-party insurers to pay 100% of the $3M purchase price.
Among the Design Requirements of the RFP included the following:
- client-ownership to limit over-reliance on software provider;
- maximum in-house ability to create and modify system to reduce cost and limit external reliance;
- full on-line integration of Legal, Finance, Risk Management and third-party insurers; and
- web-based interactivity of all stakeholders subject to client control.
Once implemented, the system stream-lined all claims management processes in a one-stop solution. The flexibility and improved access to meaningful claims information enabled the client to readily classify, categorize and identify patterns of claims denials. The dramatic improvement in claims data accessibility empowers the client to materially improve its claims recovery outcomes. Through integration with the Finance and Risk Management functions, client reporting and disclosure became more timely and accurate.