Large employers that take control are seeing a greater return on their investigation spend!

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May 11, 2023, 15:35 ET

BURBANK, Calif., May 11, 2023 /PRNewswire/ -- In 2022, Frasco^® Investigative Services conducted a nationwide, comprehensive benchmark study on how insurance claim investigations are being handled by large employers. Gain valuable insights on how many risk management professionals control their investigations program and how to evaluate the return-on-investment on investigation spend.

Some large employers are:

Looking to aggressively combat fraud and abuse
Frequently dissatisfied with investigation results
Feeling disconnected from the investigation strategy
Wondering if a different approach will reduce settlements
Wishing they could control claim investigation decisions
Concerned that the investigation spend is not worth it
In need of ROI metrics on their investigation expenses

If any of these ring true, you need an alternative.

The intent of surveying risk management professionals is to give perspective as to how large employer peers are using investigations as part of their insurance claim handling strategy, where they find value in doing so, and what critical aspects they find most important. We hope that you utilize this information for comparison purposes as you seek to leverage investigations to support your claim cost containment efforts.

Our general findings indicate that less involvement equals less satisfaction, and that active involvement and access to information equal increased satisfaction. Review the report and the numbers will reinforce this.

Many large companies choose to own their investigation program and use partners like Frasco^® Investigative Services to manage it. This ownership brings control that drives actionable results, often improving claim outcomes. Organizations opt for the self-insurance route to save money, customize their insurance program, and have unrestricted access to claims data, enabling better forecasting and controlled expenses. Apply the same strategy to your claim investigations.

When analyzing your investigation program, go back to the drawing board and figure out what's right for you and your organization. If your current investigation program lacks actionable results, fosters a check-the-box mentality, offers no spend transparency, and the work product is inconsistent, it's time for a change.

To download a copy of the report, visit https://frasco.com/thesmarterchoice

Frasco^® Investigative Services has enjoyed continual growth for nearly 60 years. With investigators and offices located throughout the country, we are a full-service investigation company partnering with the insurance, legal, business, and financial communities. Our years of experience, management and field resources, technology, and customer-centric approach help to produce service outcomes that have made us the go-to partner for thousands of customers.

SOURCE Frasco, Inc.