Debt Collection for Property and Casualty Insurance
Debt Collection for Property and Casualty Insurance
CMCS offers our property and casualty insurance recovery debt collection to insurers, excess and surplus lines, commercial lines, general agents, premium finance companies, and brokers. For these customers, we can offer expert insurance collection handling including tough deductible collections, insurance subrogation, bond collections, and premium recovery challenges. This is possible due to our team's knowledge, skill, and experience in handling insurance collection accounts with care and integrity. When you partner with CMCS for debt recovery, you can count on us to improve cash flow, reduce DSO, and avoid losses. The best part is we can do all of this while protecting your brand as well.
Property and Casualty Insurance Debt Collection
Out expert debt collectors are trained in a variety of debt recovery methods for the property and casualty insurance industry. Each case is evaluated and then the means of recovery is determined. Some of our insurance debt recovery collection methods are included below:
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1st party collections
- Revenue cycle consulting
- Outsourcing the collection function
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3rd party collections
- Subrogation
CMCS has a deep understanding of issues that lead to disputes in the property and casualty insurance industry, most importantly, non-payment between policyholders and insurers due to a misinterpretation of the policy itself. Our knowledgeable debt recovery team will work with client's policyholders and educate them regarding the language of the policy and the terms of the policy itself. Many times, simply explaining policy language can settle a dispute amongst parties.
Property and Casualty Insurance Debt Collectors
CMCS offers the property and casualty insurance debt collection industry a variety of services to recover any outstanding debt while also protecting the relationship between their clients and mitigating legal liabilities.Below are services provided to assist in debt recovery:
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Uncovering Frozen and At-Risk Revenues
Our skilled debt collectors can uncover frozen and at-risk revenue. Most businesses in the industry have this type of assets due to system issues, staffing problems, or particular processes. Our debt specialists can help identify this type of revenue and engage efforts to clean up old receivables while bringing in quick cash flow.
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Transforming Accounts Receivables
If you have upgraded or replaced your accounts receivables or accounting systems, you likely faced significant disruptions. Disruptions in operations can slow down the collection process and put cash flow at risk. Another risk with upgrading systems is the risk of substantial write-offs because accounts could not be reconciled promptly. CMCS has the skills and technology to tackle any system upgrade with ease, which will allow you to get through this challenging time while avoiding losses.
- Outsourcing
We can provide solutions to problems you face in the property and casualty insurance industry debt collection department. Whether you need short term or long term solutions, you can count on our professionals to provide you with the help you need to get your business on track. Our solutions allow us to take the overflow that your employees cannot handle while managing and resolving frozen, aged receivables. We have the technology to interface with your existing systems, which allows us to instantly reduce the load on your employees.
Insurance Industry Debt Collection
Recovering debt for the property and casualty insurance sector is what CMCS is equipped to do. Collecting delinquent payments from your clients while helping your business obtain better financial strength can be achieved with our debt collection process.Our particular areas of expertise include deductibles, subrogation files, unpaid earned premiums, adjustments, bonds, and workers’ compensation audit adjustments. Contact CMCS for more information on how your insurance business can recover unpaid accounts with our debt collection techniques.
