Claims Management And Effective Risk Management

The nature of mature, and by inference effective, risk management programs has claim management as a key focus as well. While risk maturity is directly correlated with risk effectiveness, this latter term encompasses a much broader perspective on things that matter.

Not surprisingly, many of these components of risk management maturity have some connection to effective claims management.

Accordingly, it is appropriate to understand what these components are and how they dovetail with a more comprehensive view of effective risk management.

Admittedly, this perspective relates most to the traditional hazard-risk-focused practice of risk management; however, failure in this realm will likely point to probably failure in other areas of risk management.

To instill risk discipline, and by extension maturity, into claims management activity, one must set the tone for effectiveness across the spectrum of risk management activities and significantly feed overall risk management performance.