The Boxwood Group, LLC provides a variety of claim service solutions both pre-loss and post-loss. Boxwood helps clients focus on the basics of claim handling and claim processes in order to build a strong foundation for sustainable claims management programs. The Boxwood Group's stable of clients includes a global insurer, wholesale and retail brokers, and risk management clients.
- Insurer - our insurer work has focused on claim audit work, internal and external.
- Brokerage - our brokerage work consists of claims advocacy, helping brokers help their clients resolve claim coverage and claim handling issues.
- Insureds - our work for insureds is varied, including claims audit work; revamping claims handling programs, TPA selection; coverage questions and claim advocacy; strategic claims management advice on high profile claims; monitoring and bringing to closure old loss sensitive plans, including working on LPT buyouts and reducing claims collateral, such as loss deposit funds and letters of credit.
In partnership with our clients each project is tailored to meet their needs. We deliver the results needed quickly, reliably, and cost effectively.
Claim solutions are not always found by thinking outside the box. Taking a new and closer look at what is already inside the box may provide the answer.
The Boxwood Group’s founder has over 38 years of experience acting as an insured’s advocate and intermediary with insurance markets. Boxwood’s role is to bring both parties together to manage complex claim matters, and resolve contentious claim strategy and coverage issues. We act as an intermediary to help insureds and insurers openly discuss their positions, while at the same time keeping the parties focused on the larger issue of developing the best claim strategy without coverage litigation. Too many matters unnecessarily go into litigation, wasting time and money, often resulting in unsatisfactory results for both parties.
Quality control and claim monitoring are an essential part of a best in class claim management program. Audits, claim reviews, operational assessments, bench-marking, and developing performance goals are methods used to evaluate the effectiveness of your claim management program. Specific audits can focus on best practices; performance guarantees; aged losses; retrospective premium claims adjustment reviews; loss portfolio transfers (LPT) and policy buy-out projects; inventory close-out projects; or other custom reviews to fit the organization's needs. These evaluations can be performed as individual assignments or in combination to identify key loss drivers, bench-marking, and setting performance goals.
Monitoring and management of old runoff programs, retros, high deductibles and captives is an important activity which often results in reducing or eliminating collateral or letters of credit that are required on loss sensitive programs. This focus can also reduce or eliminate state guaranty bonds, and produce program novations and program closures.
The Boxwood Group, LLC has its own proprietary on-line audit/survey tool which can be used when the need arises. The audit/survey tool allows for customizing questions; multiple user interface; computer randomization routine to select the claims or almost any other information to be audited or surveyed; store the results for future use; and produce standard or custom reports, including comparison reports. The reports can be delivered in PDF or Excel format.
We partner with Corner Edge Solutions and their Rennroc RIMS, http://www.corneredge.com/ to provide web based risk management solutions. Through advanced surveys and data feeds from other systems Rennroc is designed to integrate any number of data sources into a central database.