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Insurance
Most collection agencies utilize a two-phase recovery process, which has been the status quo for years. This process starts with collections and then litigation, if collections are unsuccessful.
Brown and Joseph’s four-phase process goes beyond the “status quo” and provides a more intelligent resourceful approach to the recovery process.
Services
- Partial or complete outsourcing services
- Early referral pre-collection programs
- Primary placement – contingency collections
- Secondary placement – contingency collections
(Recovering files closed as uncollectible by your present agencies) - Credit risk assessment and scoring solutions
- Receivables portfolio purchasing
- Bankruptcy management
- Preference issues
- Training, seminars and consulting services
Case Type
- Commercial premiums and audits
- Worker’s compensation issues
- Deductibles
- Crop insurance
- Surety bond premiums and claims
- Captive and non-captive situations
- Agent commissions
- Short and long disability overpayments
- Wrongful payments of death benefits / annuities
- Medical provider overpayments
- Member and PCS overpayments
- Personal line earned premiums
- Subrogation
Click here to find out more about our subrogation services.
Phase One
Credit scoring and asset information – Upon receipt of collection assignments debtor companies are credit scored and asset information obtained. This intelligence is attached to the debtor information file and provides factual and critical information during the collection process.
Phase Two
Initial analysis and collections – Using the credit score and asset information, files are then segmented and prioritized by score and balance. This segmentation rapidly identifies companies that have the financial resources available for rapid resolution and recovery. These files are assigned to our primary and initial phase of collections through Brown & Joseph. Companies with medium to low scores, meaning high credit risk, have a tendency to delay recovery with unsubstantiated disputes. Most collection agencies will refer these more difficult cases to outside council for litigation, which increases contingency fees and causes their client to incur court costs.
With Brown & Joseph these more difficult case are diverted to our in-house law office for pre-litigation collection calls without increasing contingency fees.
Phase Three
Internal law office – Our internal law office reduces litigation for our clients to less than 1% files assigned. The results are: increased recovery, higher settlements, reduced litigation costs and time spent in resolving the more difficult assignments.
Phase Four
Litigation – Brown & Joseph maintains a national network of experienced litigation lawyers. Our litigation management team will review and recommend suit based on factual and intelligent credit scoring and asset information. Use of this intelligence and process reduces the amount of non-profitable suits, judgments that can not be enforced and litigation costs.
The Results
Increased revenue recovery – This substantially reduces litigation costs and reduces contingency fees, which results in a positive effect on your bottom-line profits.
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©2012 The
Brown & Joseph Companies. All Rights Reserved. |
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