Claims Administration & Advisory
Claim data is often tracked in multiple locations that require constant updates and are cumbersome and time consuming to maintain. Through CAMeo, Stout’s proprietary claims administration and management tool, we assist clients by utilizing technology, project management, critical data analysis, and superior reporting to process and share information among multiple constituents.
CAMeo is a secure and customizable web-based claims administration tool for managing all relevant claim data from the initial filing through final resolution. CAMeo retains uniform data and documents in an electronic format for easy recall and analysis, which can assist in determining trends and help drive informed decision making.
Key features and benefits of CAMeo include:
- Real-time access to current data and documents
- Compliance and efficiency improvement
- NCC approvals on key data fields integration
- Administration of cost-sharing agreements
- Secure cloud-based document storage
- Simple import of legacy claimant data
- Tight audit controls
- Timely reporting
- Dynamic dashboards
- Budget monitoring
- Paperless environment
CAMeo Payments – Payment Processing
CAMeo Payments is an optional feature integrated into the CAMeo platform that provides a dynamic web-based claims payment processing tool for both indemnity and defense payments. CAMeo Payments provides a solution that enhances the efficiency and accuracy of the payment process, and it incorporates control features to ensure proper payments are made timely, tracked appropriately, and reported to interested parties on a real-time basis.
Insolvent Insurer Recovery Services
When working with large commercial insurers that are distressed or in formal liquidation proceedings, the claims valuation process can become very complex, taking years to complete and yielding uncertain final recoveries. Leveraging Stout’s deep claims negotiation experience and insurer relationships, our team works with policyholders to present and negotiate claims to the insolvent insurers. When presenting a claim, Stout considers all appropriate claim categories, including IBNR, and we negotiate to achieve the maximum agreed claim value.
Claim Sale & Advisory
Upon reaching an agreed-claim valuation with an insolvent commercial insurer, policyholders may face a lengthy wait before receiving any distribution, effectively stranding the asset and locking up cash. A secondary market has developed for purchasing agreed claims, and in some cases, unresolved claims. For policyholders seeking to monetize an agreed claim, Stout provides a detailed perspective on the claim value and contacts potential buyers to pursue a transaction, utilizing our understanding of the insurer’s financial position and applying leverage with multiple bidders to achieve the highest market price available.