2008 GROSS REVENUE: $465.0 million
EMPLOYEES: 3,980
Innovation is one reason Gallagher Bassett Services Inc. stands out among property/casualty third-party claims administrators, says Executive Vp Emil Bravo.
“We're first to the marketplace on a lot of new products,” said Mr. Bravo of the Itasca, Ill.-based company voted the best property/casualty TPA in the Business Insurance 2009 Readers Choice Awards.
In recent months, Gallagher Bassett tested an outcome-based physician provider network as an alternative to preferred provider organization networks. Gallagher Bassett provides a list of doctors it believes achieve the best outcomes, regardless of their PPO status.
Mr. Bravo said a two-year pilot with one client went “very well” and Gallagher plans to offer the outcome-based networks to other clients as a health care coverage plan alternative starting next year.
Gallagher also was among early adopters of predictive modeling as well as an early intervention model that is integrated from the point of the initial claim to billing, he said.
In the past two years, Gallagher Bassett has expanded the functionality of its software package. Users can get reports in multiple formats and receive e-mails with periodic reports, he said.
Another advantage is its management stability, Mr. Bravo said. “There's very little turnover on our senior management team,” he said.
About 95% of respondents to an annual customer survey graded Gallagher Bassett's service as “good” or “excellent,” Mr. Bravo said.