What this guide helps you evaluate
risk, finance and insurance teams evaluating program administration, benchmarking and collateral services where coverage structure, claims economics and insurer requirements drive material cost. This implementation checklist helps organize a decision about claims collateral administration service.
This page is designed to help you compare the moving parts, organize due diligence and ask better questions before you commit money, sign a contract or change an operating process.
Define the business outcome, decision owner, expected term and the evidence needed to validate collateral calculation and tracking.
Normalize collateral calculation and tracking, claim reserve and security requirements and release workflow reporting and fees before comparing proposals or internal options.
Keep assumptions separate from verified facts and record the source, date and owner for material requirements.
What to compare first
- collateral calculation and tracking
- claim reserve and security requirements
- release workflow reporting and fees
- program structure and service boundaries
- data, collateral and claims evidence
- fees, insurer acceptance and operating controls
Step-by-step process
- 01
Name the implementation owner, approver, operational owner and external dependencies.
- 02
Convert collateral calculation and tracking, claim reserve and security requirements, release workflow reporting and fees into testable deliverables with acceptance evidence.
- 03
Prepare current insurance and reinsurance program, loss runs and exposure schedules, collateral or claims records, broker carrier or vendor proposal plus required data, access, configuration, security review and training inputs.
- 04
Run acceptance checks, record exceptions and define rollback or remediation before go-live.
- 05
Complete handover with support contacts, operating procedures, renewal dates and retained evidence.
Common mistakes and risk checks
- comparing fees without program responsibilities
- using incomplete claims or exposure data
- failing to define collateral release, reporting or insurer approval requirements
- Treating a implementation checklist as a substitute for signed agreements, current official rules or qualified professional review.
Documents and evidence to collect
- current insurance and reinsurance program
- loss runs and exposure schedules
- collateral or claims records
- broker carrier or vendor proposal
Questions to ask before approval
- How is collateral calculation and tracking defined, measured and evidenced?
- What changes if claim reserve and security requirements is higher or lower than the base case?
- Which fees, exclusions, implementation tasks or operating duties sit outside release workflow reporting and fees?