Collins provides a full-service Client Claims and Accounting Services Department for our business partners. With an emphasis on expertise, accuracy, thoroughness and speed, we handle all transactions related to reinsurance premiums and claims.

The department is organized in a team format, so clients can be assured that their accounts are receiving the attention and expertise of several experienced professionals. For each account, an individual analyst is responsible for coordinating both the accounting and the claims services. Our analysts, therefore, have a thorough understanding of all accounting and claims needs for each client.

This also simplifies the communication process for our clients: it establishes a single, easy communication point for all of their accounting and claims needs. Nearly half of our Client Claims and Accounting personnel have five or more years' experience in reinsurance, and many also have primary insurance experience.

The Client Claims and Accounting Services Department provides many value-added services. For example, we confirm that each incoming claim and accounting report adheres to the conditions of the reinsurance agreement and is reported correctly. After our review and processing, we oversee the collection of funds due to or from clients to ensure full, prompt settlement.

The efficient and effective claims processing and collection of claim balances is a primary focus of this department. As such, Collins follows an aggressive claim collection process and adheres to strict service guidelines. If necessary, the analyst will elevate the handling of a claim to the attention of senior executives, who make themselves available to ensure that claims are recovered efficiently and expeditiously.

When reinsurers are not authorized in certain states, it may be necessary to obtain letters of credit to collateralize a cedant's ceded liabilities. Collins facilitates this process on behalf of our clients. Based on licensing criteria, we monitor the reinsurers required to provide such collateral, and coordinate with the financial institutions to obtain the proper documentation by the required deadlines.

Collins has a claims management team to help answer claims questions or discuss claim issues. Team members monitor and become involved in in any concern, delay or dispute regarding a claim. In addition, they are available to answer questions related to primary claims issues, to serve as a sounding board for complicated claims problems or to assist with research on specific claims topics.

Case Studies

Our experience with various insurance and reinsurance companies enables us to advocate for our clients. We help with contract interpretation, reporting requirements and formats, and general education related to the reinsurance industry. Many of our reinsurance partners attend our in-house reinsurance training classes.

Case Study:
As a new relationship was beginning between a Collins client and its reinsurers, one reinsurer found it difficult to read and interpret the client's reports. To accompany the client's source report, Collins created a supplemental report in the format required by the reinsurer. Our assistance prevented the client from being inconvenienced and got the reinsurer the information it needed.

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Collins uses the most current technology in accounting and claims. We partnered with a software development company to integrate a new reinsurance intermediary system into the Collins systems. Technological advances allow the Client Claims and Accounting Services Department to greatly enhance the accuracy, speed and efficiency of service.

Case Study:
Inadvertent oversights by one Collins client led to discrepancies in accounting information and, eventually, to a billing dispute with a reinsurer. Collins' claims and accounting staff stepped in to assist. Using optical character recognition (OCR) scanning technology, we transformed paper records into usable spreadsheets. The figures were audited to determine that the contract terms were properly applied, facilitating conversations between the parties to resolve any differences. Additional balances due from the reinsurers were identified and billed, resolving the discrepancy and avoiding further disputes.

Contact Kris Westall for more information on Collins' Client Claims and Accounting Services.