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Buyers assess industry companies participate being sent to individuals responsible for business insurance
purchasing decisions. Some 281 buyers participated in the 2013 Business
Insurance Buyers Choice survey. Recognition has been awarded in seven
BY RODD ZOLKOS categories: commercial property insurance, commercial liability insur-
ance, commercial auto insurance, workers compensation, commercial
ompanies recognized as this year’s Business Insurance Buyers Choice brokers, commercial third-party administrators and benefits brokers.
D
eep expertise in managing outcomes,” he said. “We don’t
workers compensation believe a claim is a commodity.
claims for optimal out- We don’t think they all have the
comes and top-level cus-
tomer service don’t just
same outcome. We really think
(management of ) a claim can
WORKERS COMPENSATION
happen by accident, said Vincent make a difference on loss costs. Service: Travelers Cos. Inc.
Armentano, The Travelers Cos. That is our core belief.” Expertise: Travelers Cos. Inc., Liberty Mutual Insurance
Inc.’s senior vice president of So over the years, Travelers has OVERALL: Travelers Cos. Inc.
business insurance claim. invested in services such as a
And Mr. Armentano should “smart team” of employees who ing claims outcomes, so the insurer’s services
know: Hartford, Conn.-based delve into medical billing efficacy include integrating claims adjuster and nurse
Travelers has won Business to find expense reductions case managers’ joint “ownership” of certain
Insurance’s 2013 Buyers Choice beyond those generated through claims, he said.
Awards for service and expert- electronic bill review measures, As for expertise, Mr. Armentano said Travel-
ise, two attributes risk managers “We really think (management Mr. Armentano said. ers invests tens of millions of dollars in a Wind-
say they desire most from their “We try to maximize (cost sor, Conn., training facility for adjusters and
workers comp insurer. Travelers of) a claim can make a reduction services) in every nurse case managers. And the company’s
also was the overall winner in difference on loss costs. That is
area,” Mr. Armentano said. For employee retention efforts mean its adjusters
the workers comp insurer cate- instance, the insurer’s pharma- have many years of experience.
gory, based on buyers’ prefer- our core belief.” cists help customers through The efforts help assure that customers receive
ence for the company’s service Vincent Armentano, various measures, such as ana- consistent service no matter the office location
and expertise. The Travelers Cos. Inc. lyzing how group health plans with which they interact, he said.
Travelers invests heavily in have succeeded in reducing “When I talk to our customers, it’s the consis-
adjuster and nurse case manag- pharmacy costs. tency of the deep expertise across all our claim
er training, doesn’t consider claims to be But the pharmacy expense reduction efforts and nurse professionals” that they like. “Regard-
commodities that can all be treated the same, don’t stop there. Travelers also has led lobbying less of who gets their claim or what office they
and focuses on helping injured workers, efforts to reduce the profitability in doctor dis- are dealing with, they get very similar results,”
Mr. Armentano says. pensing of pharmaceuticals, he said. he said.
“We start by looking at (workers comp claims) “There is not one magical answer” to improv- By Roberto Ceniceros
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