Structured Settlement Company Offers In-Depth Knowledge of Process
Partnering with a structured settlement company that offers an in-depth knowledge of the structured settlement process, structured settlement market and claims business is invaluable. Companies with experience and expertise tend to offer various structured settlement alternatives and cost effective solutions. Proposals are designed to address the future financial needs of the injured party and present a win-win scenario for all of the parties involved.
Three Key Characteristics to Look For Selecting a Strategic Partner
When evaluating options for structured settlement providers, it is best to approach the process as if you are selecting a strategic business partner.
Of the several areas of consideration, self-insured employers or insurers should look for structured settlement partners with –
1) Experience Structured Settlement Consultants in Jurisdictions
When choosing a structured settlement partner, the self-insured employer or insurer should look for a structured settlement company that has a local presence, jurisdictional knowledge and relationships. Therefore, working with a structured settlement partner that is national in scope is ideal.
2) Proven Track Record of Success
The structured settlement company selected for a partnership should have a proven track record of success. Experienced structured settlement companies will present viable alternatives, overcome objections, participate in settlement conferences/mediations and ultimately assist in achieving desired outcomes. With experience come relationships – also valuable and conducive to achieving results.
3) Respected Resources to Provide Options and Competitive Rates
The structured settlement company you partner with should have business relationships with various top rated life insurance companies capable of providing an array of structured settlement products and competitive rates.
The structured settlement company you partner with should have the ability to customize structured settlement proposals to address the various needs of the respective parties by offering meaningful options and alternatives.
By incorporating the use of these recommendations, self-insured employers and carriers will be better positioned to achieve success with the utilization of structured settlements. For assistance on identifying the best structured settlement companies to partner with, please contact us.
Author Michael B. Stack, CPA, Director of Operations, Amaxx Risk Solutions, Inc. is an expert in employer communication systems and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. He is a writer, speaker, and website publisher. www.reduceyourworkerscomp.com. Contact: mstack@reduceyourworkerscomp.com.
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