Claimstream functions as an external claims partner which assumes the responsibility, management, execution and costs of running your Large Loss Commercial Recoveries Portfolio. We do this in partnership and collaboration with your business in full transparency, oversight and reporting over the decisions made by our specialised legal professionals. By assuming the entirety of the litigation cost, including adverse cost orders, this effectively frees up reserves ordinarily allocated to litigation activity and the risk of adverse outcomes.
Claimstream’s unique approach to commercial litigation and recoveries, allows you to reduce your staff and operational costs, whilst retaining control and oversight of your claims activity. With no direct costs to you, we allocate our highly specialised legal professionals to your business. Our services can be scaled to allow our legal professionals to be deeply integrated into your operational structure and reporting lines. A unique partnered approach with our specialised legal professionals provides superior outcomes which positively impact recovery ratios, freeing up reserves while also reducing operational spend.
Claimstream is a partnered claims management service which entirely replaces your existing internal litigation recoveries function. This includes all elements of administration, management and human resourcing. We do this at no cost to you…
ClaimStream administers the day-to-day operation of the litigation portfolio. This includes interaction with solicitors, witnesses, experts, and brokers (upon instruction). The scale of our involvement is entirely determined by you and can range from complete administration to a partial integration.
ClaimStream bears the entirety of the costs associated with legal spend inclusive of counsel fees and expert witness costs and all other ancillary charges related to litigation. Furthermore, in the unlikely event of an unfavorable outcome, ClaimStream will bear any adverse cost orders.
ClaimStream provides bespoke litigation reporting specific to your requirements. This includes regular reporting on key metrics, interactions, and other matters of interest throughout the management of the litigated claim. With end-to-end reporting, you will have complete and transparent insight into our management of your litigation portfolio.
Benefit from decreased operational costs, whilst increasing available capital and improving recovery returns. Claimstream retains a small portion of the any recovery, this is limited to insured losses, thereby having no impact on the customer outcome.
Decrease Operational Costs
Claimstream reduces and in some cases eliminates the operational and staffing costs within the litigation, claims and/or recovery segments of your operation, without significantly impacting staff or headcount within those units. We absorb the costs of part or all of your staff costs whilst you retain key members of staff within your business operation and reporting lines. Simply you retain the benefit without the cost.
Increase Available Capital
Claimstream eliminates the need for insurers to place reserves on litigated claims to cater for the cost of litigation activity or the risk of an adverse outcome. Claimstream operates a sophisticated funding model allowing it to underwrite and indemnify the insurer from all legal expenses and adverse litigation cost orders.
Increase Recovery Returns
Claimstream works with best in class legal personnel and law firms to deliver superior outcomes on all commercial recovery claims. Claimstream works collaboratively with each stakeholder, sharing insights and industry leading advice in the conduct of the litigation whilst ensuring the insurer retains control and reporting of the litigation activity.
Positively impact
recovery ratios
Free up
Reserves
Reduce Operational
Spend
Claimstream will assess your Commercial Large Loss Recoveries portfolio under NDA in order to assess existing risk in the current portfolio’s operation.
We will work with you to develop a unique and tailored partnership model which establishes all of Claimstream’s roles and functions within your portfolio.
Our proposal will outline the way in which we will work with you, our deployment plan and the costs associated with our service.
Once we have negotiated the way in which we will integrate into your business, we will begin deploying the necessary resources to service your portfolio’s obligations.
Claimstream will compile a detailed insights report giving you a comprehensive understanding of the proof of concept and the benefits derived from the exercise.
Once we have completed the proof of concept, we will work with you to provide you with a detailed proposal on how Claimstream can integrate into your wider business and service your needs.
Claimstream will assess your Commercial Large Loss Recoveries portfolio under NDA in order to assess existing risk in the current portfolio’s operation.
Our proposal will outline the way in which we will work with you, our deployment plan and the costs associated with our service.
Claimstream will assess your Commercial Large Loss Recoveries portfolio under NDA in order to assess existing risk in the current portfolio’s operation.
We will work with you to develop a unique and tailored partnership model which establishes all of Claimstream’s roles and functions within your portfolio.
Once we have negotiated the way in which we will integrate into your business, we will begin deploying the necessary resources to service your portfolio’s obligations.
Once we have completed the proof of concept, we will work with you to provide you with a detailed proposal on how Claimstream can integrate into your wider business and service your needs.
We understand that the claims management process is unique to each insurer. In implementing Claimstream within your operations, we take an individualised approach to aligning our interests in order to work with you in partnership with the ultimate aim of positively impacting recovery ratios, freeing up reserves while also reducing operational spend.
Thank you for your interest in Claimstream. Whatever your enquiry, please reach out via email or phone call and we will get back to you as soon as possible.
0411 012 254
info@claimstream.com.au
Suite 1 Level 4/107 Phillip Street,
Parramatta NSW 2150
We will be in touch with you shortly.
