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For employers all over the world, the changing regulatory landscape, challenges with hiring and retaining top talent, and economic forces like inflation continue to put pressure on risk managers. Through strong, long-term partnerships, a deep understanding of our clients, and expert teams across industries, GB’s expertise lies in helping risk managers navigate these challenges and deliver superior outcomes. 

Joe Zinga, EVP — Risk Management, and Kapil Mohan, EVP — Risk Management, explore how a consistent focus on quality, service excellence, and outcomes can drive down your total cost of risk and protect your business long-term.

Joe Zinga (JZ): How does GB define a successful risk management partnership and what does this look like in practice?

Kapil Mohan (KM): At Gallagher Bassett, we deliver consistent, high-quality outcomes for our clients, which is the foundation of a successful risk management partnership. We demonstrate our success through innovation, expertise, quality, and service excellence, all of which contribute to delivering the outcomes that matter most to our clients.

Our passionate and driven team of experts has the experience and resources needed to form a successful partnership. Our partnerships are built on four key pillars:

• Alignment: Our clients' goals are our priority. We strive to be a natural extension of our clients' risk management teams.

• Creativity: We run to opportunities with specific and measurable recommendations and actions. When presented with unique challenges, we push ourselves to be creative problem-solvers. 

• Continuous improvement: There is always opportunity to improve. By analyzing performance we generate insights on where GB, and our clients, can improve results.

• Transparency: Transparency is fundamental to a truly collaborative partnership. By being direct and honest, we build trust and deepen our relationships.

JZ: How does the quality and service aspect of strategic partnerships impact the total cost of risk (TCOR) and why is it important?

KM: Quality and service can have a significant impact on TCOR in claims and risk management. A high-quality provider will typically have better tools, processes, data, and feedback loops, all of which can create efficiencies and critical points of differentiation in the marketplace.  A commitment to quality and service also means that we’re hyper focused on leveraging data, insights, and innovative tools not only because it allows us to make better decisions, but also because it empowers our Resolution Managers to focus on what matters most and make efficient decisions to drive superior outcomes. 

Gallagher Bassett prides itself on having deep knowledge of our clients’ businesses, their priorities, and what matters most to them. This allows us to bring relevant solutions and services to improve outcomes and help our clients’ businesses thrive. Whether it’s reducing the TCOR, avoiding losses, improving safety, or enhancing their reputation as an employer, we’re always striving to deliver an exceptional service experience for all clients and claimants. We are proud to say we are ranked by risk managers as the leading third-party administrator based on independent surveys, driven by the exceptional talent and service focus of our claims professionals.

JZ: What quality assurance measures are involved in GB’s risk management framework and how does this ensure compliance and client outcomes?

KM: Quality claim handling has been a hallmark of Gallagher Bassett since 1962. We are relentless in our pursuit of improving quality and this has ultimately taken us to the next chapter in claims quality. We use tools, data, and our deep expertise to generate actionable insights that drive better results.

We employ experts in general and specialty areas to manage and resolve millions of claims each year, paying out over nine billion dollars for our clients. We have robust recruiting and talent development programs that are essential to ensuring our team members remain capable of serving future claimants. We’ve learned that organizational expertise, harnessed through decision support tools, are essential to making informed decisions in areas like reserving, clinical intervention, litigation avoidance, and fraud detection. We have a strong focus on consistent service, quality, innovation, and expertise, and for our partners, this results in more effective ways to serve their customers’ needs and drive superior outcomes.

JZ: Effectively managing risk with our clients in complex or highly regulated environments requires deep expertise and industry-leading capabilities. What would you say sets GB apart in terms of our ability to partner with risk managers to deliver better results?

KM: The ability to deliver superior outcomes requires a commitment to developing expertise at both the individual claim professional level and the organization level through decision support tools. At GB, innovation is part of our DNA. Our extensive investment in innovation has resulted in the deployment of industry-leading analytics and decision-support functionality unrivalled in the marketplace today.

Our award-winning analytics tools, including our industry-leading RMIS platform, Luminos, provide an experience that allows our clients to effectively manage their programs. This is a true advantage in today’s market for any risk manager looking to bring valuable and impactful insights to their business. From reducing your cost of risk and protecting your brand and reputation to enhancing service and the claimant experience, we take a partnership approach to understand what’s important to your business.

To find out how a strong partnership with Gallagher Bassett can support your business to decrease your TCOR and enhance your reputation, connect with our team today.