Loss Sensitive Services

Paragon’s Loss Sensitive Services are designed to help ensure carriers realize the true benefit of these programs while reducing the burden of administration.

Billing Administration

Carriers that utilize loss sensitive, risk sharing tools like large deductibles, self-insured retentions and retro premiums tend to face operational challenges stemming from the complex nature of these programs. Paragon has developed a number of solutions to help carriers improve performance related to these sophisticated and complex policies. Our services address challenges like those related to ALAE treatment, Clash Deductibles and Deductible Aggregates. Paragon’s service also address issues related to multiple calculations such as claim handing fees, Loss Conversion Factors and tax multipliers. Additionally, we have the ability to send E-billings and create customized invoices to meet your insured’s demands; this includes specialized loss runs and multi-location billings.

Paragon’s Loss Sensitive Billing Administration service provides a solution to carriers that are looking for an alternative way to effectively and efficiently manage their loss sensitive billing program.

Reconciliations

Insurance carriers often utilize multiple accounting and invoicing systems to administer their loss sensitive programs. Though each platform plays an important and distinct role, these systems often struggle to handle the complex calculations, numerous data feeds and inherent timing issues. The result oftentimes leads to out-of-balance accounting situations that, if left unmitigated, can create material accounting issues.

Leveraging its technology and subject matter expertise, Paragon has developed a means to efficiently reconcile loss sensitive programs. Its software utilizes information from disparate sources to eliminate false positives and timing issues while bringing focus to a smaller subset of accounts that need to be analyzed in detail. Paragon’s experienced staff then uses its proprietary tools to research the specific out-of-balance and identify the appropriate correction. This information is then reported to the customer in a way to take specific action to ultimately resolve the issue.

The result is an efficient, ongoing solution that ensures the systems supporting the invoicing and accounting of the loss sensitive program remain in balance.