Welcome to Part 2 of our 2-part series on Perfecting the Claim. In Part 1, The 5 Steps of Mass Tort Claims Management we explained the five core steps of the mass tort claim management lifecycle. In this post, we discuss the Arcina differentiators that we apply to every client engagement to perfect the claim and ensure optimal results.
Tracking with Technology
Today, technology plays a critical role in organizing, analyzing, monitoring, and the tracking of a mass tort claim. This is due to the often-voluminous claimant and financial data. Arcina has the experience and technology tools to perform all of these tasks in unison, at scale, by leveraging a centralized technology platform that provides access to data, analytics, statistical information, and important details of the claim. In fact, Arcina has built databases for the sole purpose of gathering and maintaining all relevant claim information. This includes, but is not limited to, information on the number of cases, financial data, and geographic data.
While modern technology underpins claim tracking, how an insurance archeology firm applies the technology is equally important. Unlike the vendors of risk management information systems (RMIS), Arcina treats the technology as an enabler, not as the end game. We first assess our client’s requirements and determine the tracking that needs to happen while engaging historic insurance and constructing a digital policy library. We then apply our technologies to track and manage the claim. Instead of clients relying on spreadsheet-based tracking, they receive our modernized, automated documentation output. Arcina also uses automated tools to report to insurance carriers, track their responses, and respond to their requests for more information.
For organizations that do not have deeply experienced claims personnel or a high degree of tech savvy, engaging Arcina dramatically raises the level of certainty that nothing will get missed and that everything is reported in a timely fashion. Many Arcina clients actually have modern technology systems in place. Yet, they lack familiarity with best-practice mass tort claim management. In such circumstances, Arcina adjusts the claim management process to align with the client’s unique workflow and systems.
Without the type of expertise Arcina brings to bear, many defendants in mass tort claim cases have failed to recover money due from carriers. The number one reason? Defendants simply did not respond within the established time limits dictated by the terms of the policy. Arcina ensures that does not happen.
Case Study One: Healthcare Products Distributor
In one recent case example, the Arcina team was engaged to manage the influx of thousands of mass tort claims brought by individual plaintiffs against a distributor of healthcare products related to medical device malfunction. Over the course of a year, the team noticed the claims to the insurance carriers, constructed two databases to centrally manage volumes of data for these claims, and normalized the process to include collaboration among risk management, the insurers and legal counsel. In the end, Arcina established a dialogue with the insurance markets which avoided litigation and obtained more than $100 million to cover indemnity and defense fees which were averaging $1 million per month.
Proactive and Collaborative Approach
Arcina takes a nuanced approach to the mass tort claim management process that recognizes its people-driven nature and high susceptibility to interpersonal relationships. Not only does this include the dynamic between client, insurance carrier and legal counsel but oftentimes, Arcina has navigated within the client’s various functions bringing together the risk management, general counsel and finance offices together.
As such, Arcina applies a unique set of best practices to perfect the claims notification process that encompasses not only specific actions, but also a targeted manner for performing each action. The Arcina approach entails the following:
- Acting proactively and in a cooperative manner throughout the lifecycle of claims management.
- Employing a claims normalization and collaborative advocacy approach with the insured, their legal counsel, and the insurance carrier.
- Avoiding (as much as possible) an escalation of claim investigation beyond normal protocol.
- Preserving relationships by allowing the claims process to play out.
- Securing participation for defense fees and/or indemnity.
Case Study Two: Water Company
The proactive and collaborative approach of Arcina recently paid off in the millions of dollars for one water company client. On the verge of a trial, the company was facing a significant liability related to historic asbestos claims and had limited insurance to provide coverage and defense for the claim. Arcina immediately implemented an archaeology and advocacy plan, located significant insurance assets, and arranged for defense of the claims. On the eve of the trial, the case settled with the authority of multiple insurers, and the carriers ultimately reimbursed 100% of the defense costs and provided $100 million in coverage for pending and future asbestos claims..
Arcina’s primary goal in all mass tort claim cases is to get claims into the hands of the right people at insurance carriers to ensure a successful outcome and to avoid (or minimize) litigation. That may sound simple. Yet, this is where Arcina is differentiated from other insurance archaeology and claims management firms.
The differentiation starts right at the beginning of carrier outreach. Arcina recognized long ago that the right person is rarely reachable via a carrier’s common intake form, inbox or ‘1-800’ number. So, Arcina avoids sending a claim to an insurer’s general claims email/contact address. Doing so unnecessarily prolongs the claim management process and prevents specialized treatment of the claim.
So, how does Arcina find the right individuals? This is where Arcina’s team with decades of insurance carrier knowledge comes into play. Arcina experts have spent years discovering and facilitating relationships with the appropriate insurance department and/or insurance personnel who handle legacy claims at the many carrier companies. Additionally, since Arcina takes a collaborative, non-adversarial approach, we have built up substantial goodwill with the likely participants in a mass tort claim.
Put it all together, and Arcina’s combination of knowing who to reach and having pre-existing relationships with them reduces escalation of claim investigation and accelerates recovery for our clients.
Why defendants find the Arcina approach optimal
- Non-adversarial, non-litigious
- Preserves relationships
- Secures participation for defense fees and/or indemnity
- Reduces expenses
- Speeds recovery