Manage the Claims Process Efficiently and Get Back to Business
Hurricane Harvey has, and is currently causing significant, catastrophic damage including tragic loss of life, extensive property damage, and business interruption. Unprecedented flooding coupled with power outages have forced companies to lose business and incur extra costs. Add to that ingress/egress issues and operational risks, along with the added burden on financial and operational staff in dealing with the claim, and the task of disaster recovery can be daunting.
How a company manages the claims process after an event heavily impacts the time it takes to get back up and running. Efficient business recovery will save time, money, and limit the risk of losing customer confidence and market share.
Challenges in the claims management process include:
• Understanding insurance coverage, working collaboratively with insurer
• Unique coverage challenges created by flood and natural disaster claims
• Accurately quantifying losses
• Navigating complex claims processes
• Coordinating recovery efforts – vendors and internal resources
Being prepared with a disaster recovery plan before events occur is the basic foundation for getting back to business. Managing the claims process after the event also significantly affects success.
Contact us for loss accounting and claims services needs from any of our 60+ offices worldwide, including those in Austin, Dallas, and Houston.