Reserving reviews
In our recent audits, CWMC identified that 40% of claims reserves needed to be changed.
Reserves should be routinely considered and updated as part of an efficienct claims handling process, not just thought about when payments have to be made. Our audit experience repeatedly shows us that reserve accuracy continues to be a huge problem.
- Is 'statistical' reserving on lower value claims a potential solution?
- If so, can you rely on correct data being provided to set the correct reserves?
- Are anticipated recovery reserves being set?
- Are large loss claim reserves being set at the correct level?
Contact our experienced team to get help with reserving reviews to identify what the correct reserves should be, as well as getting practical advice on the alternatives to manual case reserving.
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