CLAIMS, LOSS, PREVENTION AND RECOVERIES
Loss Prevention Services. Consultative and collaborative approach to providing risk mitigation strategies that are tailored based on our client’s specific business operating model. ProTecht loss prevention scope of services include all facets of supply chain management. With Recommendations that align with industry best practices.
Q&A With Claims, Loss, Prevention and Recoveries Leadership
Featured in this interview:
Eric Newman, Senior Vice President
Robert (Bob) Falvey, Vice President of Claims & Recovery
John Larimer, Vice President of Claims
Loss Prevention Services. Consultative and collaborative approach to providing risk mitigation strategies that are tailored based on our client’s specific business operating model. ProTecht loss prevention scope of services include all facets of supply chain management. With Recommendations that align with industry best practices. Our key areas of expertise with this program include:
- Capital Equipment Moves
- Life Sciences / GDP Compliance / Quality Management
- Property COPE Surveys and Hazard Analysis
- Shipping Lane Risk Assessments
- Product Packaging
- Vendor Management
- Supply Chain Security
- Facility Threat Assessments
- Geographic Risk Analysis
- Logistical and Supply Chain Assessments
- Contract Reviews
Claims Processing Services: Receive industry-leading claims service that utilizes cutting edge technology and experienced claims professionals that provide superior customer service and prompt claims processing and settlement. Falvey’s claim service includes access to Falvey’s network of surveyors, specialized claims processing personnel, data analysis and profile building that helps identify, predict, and mitigate risks.
Recovery Services: Get segmented and industry-specific recovery capabilities that include aggressive cargo claim recovery services, in-house counsel to facilitate subrogation processes, and unique channels for financial recoveries.
What are the biggest benefits of the department?
EN: ProTecht provides value added services focused on providing customers with best-in-class service that is meant to provide an unparalleled insurance solution that goes beyond just paying claims. We interact with customers directly, using a consultative, collaborative approach that we feel is truly unique in the industry.
JL: ProTecht is often the first experience a client has with Falvey. We pride ourselves on a high level of customer service and it’s our responsibility to meet the needs of multiple groups, including our underwriters, brokers, assureds, and London partners.
BF: In addition to customer service, claims are also very important. The primary reason a client buys a policy is because they want to be made whole in case of loss, and we’re very successful at that.
How has the ProTecht department evolved over time?
EN: ProTecht has become much more technologically advanced, by taking a data-driven approach to risk assessment and development of risk mitigation strategies for our underwriters as well as our customers.
JL: Throughout our history, we’ve remained very nimble and adaptable to different markets and changes in the business environment. This has allowed us to grow significantly—we currently process over 5,000 claims per year.
BF: I was hired in early 1999 (the sixth Falvey employee) to start the claims department. We’ve grown from one employee and a pile of paperwork to 15 team members and technologically advanced processes.
What makes ProTecht different from other competitors in the market?
EN: We handle claims, loss prevention, and recovery at the same time, under one roof. This allows for instant and ongoing communication and collaboration between claims, loss prevention and recovery personnel which results in prompt payment of claims and commencement of subrogation efforts as well as issuance of risk mitigation and loss prevention recommendations. Other companies divide these three responsibilities, sometimes in offices across the country, which leads to slower responses.
Also, as John mentioned earlier, we are very nimble and have a unique ability to communicate and respond in real time. While other companies focus strictly on loss prevention in hindsight and act as more of a “watchdog,” ProTecht takes a consultative and collaborative approach with our partners. We sit down with our customers at policy inception to learn and understand their business and what keeps them up at night with regard to their supply chain program, and then we work with them in a collaborative manner to identify areas for potential improvement and development and implementation of customized solutions. We are truly invested in and share the risk with our customers.
JL: Eric mentioned the synergy we have between claims, loss prevention, and recovery, which is a big differentiator in the market. Also, ProTecht has the expertise to help an underwriter or assured through complex questions and problems.
What is your favorite ProTecht success story?
BF: For me, our biggest win was handling the yacht claims after Hurricane Irma. We processed just under $70 million in claims, which was an intense experience for ProTecht and Falvey as a whole. We pulled in other employees and contractors to help tackle this mighty challenge—it was a total team effort. Hurricane Irma hit in September 2017 and as of October 2020, all of the claims have been settled. Falvey exceeded the market for claim handling following Irma and was able to give money back to London underwriters.
JL: I agree with Bob that our Hurricane Irma claim handling was a huge success. We also have been successful at maintaining a strong core team and growing leaders from within the company.
What’s something that excites you about the future of ProTecht?
EN: ProTecht is growing rapidly commensurate with the growth of the entire company. We’re in the process of hiring new team members and we are all excited for the future as we look to continue to focus on providing superior customer service that includes expanded service offerings and resource capabilities.
We also have been part of the internal “Transforming Customer Experiences” program, which has really helped bring the team together by providing valuable training focused on customer service excellence.
ProTecht Supports Falvey’s Mission
The best risk solutions come from people who know your industry and its challenges, inside and out. The ProTecht team has that knowledge and is dedicated to supporting both elements of Falvey Insurance Group’s mission to make a profit for underwriters and provide excellent customer service.