Captive carriers, Managing General Agents (MGAs), Risk Retention Groups (RRGs), and specialty insurance carriers excel at understanding their niche products and deeply knowing the unique needs of their members. However, when it comes to claims handling, many choose to outsource to large Third-Party Administrators (TPAs).

Large Third-Party Administrator (TPA) companies may not always be the best fit for newer or smaller market share carriers due to several key factors:

• These TPAs often prioritize high-volume clients, which can lead to smaller carriers feeling overlooked, receiving less personalized attention, and experiencing slower response times.
• Large TPAs may lack the deep specialization or flexibility that smaller carriers need to handle their niche claims with the care and expertise required. Smaller carriers often thrive on their ability to offer tailored products and intimate member relationships, but working with a large TPA could dilute that customized service and risk alienating clients who expect a more hands-on approach.
• Large TPAs can come with higher costs and less transparency, which might strain the operational budgets of newer or smaller carriers.

By considering Interwoven, a more specialized claim management solution, carriers can maintain tighter control over their claims processes, ensuring that they uphold the high level of service and expertise their members rely on.

• Our experienced team takes over the complete claims handling process, acting as a Third-Party Administrator (TPA).
• Our expert adjusters investigate claims, handle negotiations, and ensure fair and timely settlements.
• Our team manages regulatory compliance, ensuring all claims are processed in line with jurisdiction-specific laws.
• We provide detailed analytics and trend reports to help captive carriers stay informed on their loss trends.

• Improved Efficiency
  • We are able to process claims faster, reducing the average claim cycle time and allowing captive carriers to focus on core operations.
• Cost Reduction
  • Outsourcing to a TPA eliminates the need for the captive to expand its internal claims team, saving on hiring and operational costs.
• Enhanced Accuracy and Compliance
  • Our expert team ensures that claims are handled with a high degree of accuracy and meet all regulatory standards, mitigating compliance risks.
• Improved Customer Satisfaction
  • Policyholders experience quicker and more efficient claim settlements, leading to improved satisfaction and retention rates.
• Data-Driven Decision Making
  • The captive gains valuable insights from claims data analytics, helping them refine risk management strategies and improve underwriting practices.