No! Boomerang brings expertise and experience that allows us to look at the processes your company has in place with a fresh set of eyes and perspective to maximize future recovery processes for you and your company. Once we complete our review, we will show you how to minimize future missed opportunities.
Boomerang will be as non-intrusive as possible. Once we have the data we need to complete the review, our interactions with you will be minimal. Most reviews will be performed remotely to free up your time and space as we process and complete the review.
There are many hands, eyes, and ears that touch, see, and enter data during the reinsurance process. Whether from the purchasing of reinsurance, claim handling, claim processing, claim payment, expert payment, reinsurance analysis, recovery submission, reinsurance payment, the flow of data through your system(s), and others, the process is touched by many hands and/or systems. Each of these touch points is a potential failure point. Boomerang can help identify these potential failure points and help reduce the number of missed opportunities in the future.
Similar to the previous question's answer, the entire reinsurance process has many touch points by multiple departments, people, and systems. Over time, tunnel vision sets in and we see only what we know or have experienced. Boomerang brings a fresh set of eyes and perspective to look for missed opportunities in ways or places that were never thought of or even known about before.
Your data will only be used for the identification and collection of additional missed reinsurance recoveries. All of your company data is deleted, except for the final recovery report, once the collection process is complete.
We work for you, and our mission is to identify and collect additional missed recoveries within your reinsurance program for you that may have fallen through the cracks. Once our review is complete we will go over our report with you to show you where the additional missed recoveries originated and how to avoid them going forward. Boomerang does not work for reinsurers, intermediaries, rating agencies, insurance departments, or any other regulatory entity.