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VenAssure expands PI vendor coverage in Texas
Published: Aug 30, 2019
With the recent addition of two Texas-based private investigation agencies to the vendor marketplace, VenAssure has expanded its reach in Texas. Our platform, which helps connect claim and risk management professionals to private investigators across the United States, now has 27 agencies based in Texas and 33 agencies total that provide coverage in the state...
Three Benefits of a Vendor Marketplace
Published: Aug 18, 2019
When using an online vendor marketplace, there are many companies to choose from, and you’re evaluating and hiring each company on your own terms. You can easily see the services offered, the fees each company has set, and the reviews and ratings left by other users of the platform. It’s entirely up to you who you hire based on all of the information available...
Why the Gig Economy is Good for Claims Management
Published: Aug 03, 2019
The gig economy goes beyond just temporary workers and the people who need their services—it also encompasses a lot of small businesses that grow into larger business over time. It’s also created an opportunity for technology platforms that make working with multiple specialized vendors easier. In other words, it’s one of the reasons companies like VenAssure exist.
Calculating the ROI of private investigations: Part 2
Published: Jul 02, 2019
When it comes to measuring the ROI of private investigations, the equation seems relatively simple: total amount of money saved or earned due to evidence discovered minus the total cost for the investigation and then that number divided by the cost. While the ROI on some individual investigations will be zero because no evidence is found and the claim still pays out, the collective ROI for all investigations typically works out to a positive number.
But is it really that simple? As with any ROI calculation, there’s also a time investment involved...
Calculating the ROI of private investigations: Part 1
Published: Jun 27, 2019
All too often, we see companies try to measure the ROI of investigations as an outcome-based ratio rather than a true ROI. They look at the number of investigations with a positive outcome or valuable evidence compared to the total number of investigations ordered. Basically, they’re looking at a win rate...
Three ways vendor management platforms improve efficiency
Published: May 17, 2019
Effective vendor management is a critical component of overall efficiency for any company using vendors, whether it’s one vendor or one hundred vendors. With online platforms for vendor management, the days of an employee picking up a phone and spending 20 minutes tracking down a vendor to answer a single question should be a thing of the past...
What classifies as personally identifiable information?
Published: May 6, 2019
Personally identifiable information, or PII, is an issue every single company should consider a priority. All 50 states have passed a definition of what classifies as PII and how companies are required to handle it to ensure the security and privacy of their customers, though the regulations vary greatly from state to state...
3 drivers of opportunity costs for vendor managers
Published: Dec 1, 2018
Insurers and TPAs have an obligation to carefully assess the viability of claims submitted for payment. They turn to private investigators to follow up on claimants and ensure they’re not using dollars which could be going towards valid expenses on fraudulent submissions.
The complexity involved in keeping up with the different investigators employed in these efforts can lead to inefficiency in managing time and expenses related to tracking different vendors. How well is your own company doing managing the following pain points accompanying this process?
How can technology help you drive service excellence?
Published: Nov 29, 2018
When a business works with dozens or even hundreds of vendors without a proper management process in place, all with different contracts, pay rates and intermediaries, it has the potential to negatively affect the quality of the services you're able to provide to your own customers, what those services cost and ultimately whether or not you're in a position to achieve the business goals you've laid out for yourself...