In Conversation with Risk & Insurance: Charles Taylor’s Chris Schaffer Discusses Efficiency and Timeliness in Claims Resolution
Chris Schaffer, CEO, Charles Taylor Claims Solutions, Americas, sat down with Dan Reynolds, editor-in-chief of Risk & Insurance at RISKWORLD 2023.
Schaffer pointed out that although Charles Taylor is a well-established name in the United Kingdom and Europe, it sees perhaps its greatest growth opportunities here in the United States. The company has made 12 acquisitions in the U.S. in the past year. It currently has more than 1,600 employees in the U.S., out of an overall headcount of about 4,000.
Charles Taylor Claims Solutions is very active in aviation, energy and large loss property, Schaffer said.
It’s a well known fact that the caseload for claims adjustors, particularly in workers’ comp, can be burdensome and lead to burnout. Schaffer stressed the importance of using technology to streamline the claims adjustment process as much as possible. The hope is that the use of supporting technology will give claims adjusters the freedom to address the more complex part of their work more creatively.
Timeliness, he emphasized, is one of the most important factors in successful claims resolution. As a rule of thumb, he said, the longer a claim remains open, the more costly it is likely to become.
As in many areas of insurance, making people and companies whole, and restoring them to productivity, is a higher purpose that thinking, caring people can get behind.
“There’s a lot to be happy about in claims adjusting,” Schaffer said. &