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Milliman’s claims consultants bring decades of claims management and consulting experience to evaluating our clients’ claims operations. Our services combine technical assessments of claims handling with broader management concerns. We generate recommendations that address the entire scope of our client’s policies and practices.
Our claims consultants help clients by:
Milliman’s clients include primary and excess insurers, reinsurance companies, third party administrators, self-insured companies, and others in the alternative market. Our claims consulting expertise is as varied as our clients’ needs, from establishing a case reserve on a catastrophic loss to valuing a claim operation in connection with an acquisition. Milliman’s claims services include:
Milliman’s detailed reports and exhibits assist companies in evaluating their exposures, setting case reserves, assessing the use of outside resources, and resolving claims effectively and efficiently.
Milliman claims consultants evaluate tail claims to help determine the reasonableness of selected tail factors. Using state-of-the-art proprietary software, our claims consultants produce cash flows for specific sets of claims on a claim-by-claim basis to assist in evaluating payout patterns developed using traditional actuarial loss development methods. We evaluate case reserves and cash flows for very large sets of claims (in excess of 50,000), ensuring that estimates are performed consistently as of a common valuation date. Our software also allows our claims consultants to evaluate excess insurance policies with actuarially-correct present value calculations by layer.
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