The Hidden Capital Opportunity in Older Claims Programs

The insurance landscape presents unique challenges, but at a time when carriers are under pressure to optimize operations and grow, there is one potentially overlooked opportunity to unlock capital. For organizations looking to make the most of their assets, legacy claims portfolios hold significant untapped potential.

While there are numerous advantages to closing out discontinued or legacy claims portfolios, the opportunities are significant when carriers can effectively redirect their resources toward growth. If older files have been siphoning resources away from new program development, partnering with a specialist in legacy claims management becomes a strategic step toward unlocking untapped potential. Collaborating with a strategic partner offers the means to address stagnant claims, break free from outdated claims systems, and identify growth strategies, all while unlocking resources for active programs.

Here, we explore the four ways a strategic claims partner can unlock the capital opportunities within legacy claims.


  1. Legacy Claims Management Expertise

Complex legacy claims present unique challenges that demand specialized expertise. Working with a strategic partner can bring a wealth of legacy-focused knowledge to the table, enabling businesses to navigate legacy claims with greater precision. From various legal, financial, and regulatory intricacies, a strategic partner can be instrumental in addressing the complexities of legacy portfolios. By leveraging the expertise of a strategic partner, carriers can streamline operations, reduce inefficiencies, and maximize the value of their legacy claims, ultimately freeing up capital that can be reinvested in other areas of the business.


  1. Optimize Technology

Legacy claims inherently pose operational challenges, often diverting valuable resources and attention away from a carrier’s core business. A strategic partner, like Gallagher Bassett, efficiently handles these complexities by ensuring seamless integration from outdated claims systems. By integrating leading technologies, such as our award-winning RMIS suite, Luminos, real momentum can be created in streamlining the claims management process. Supported by a dedicated Implementation Team, leveraging expertise and leading claims management technologies becomes invaluable for navigating legacy claims with ease.


  1. Refresh Claims Closure Strategies

Transforming dormant legacy programs into active capital generators is a key benefit of working with a strategic claims management partner. Often, a fresh perspective, bolstered by specialized expertise and data-driven insights, can uncover opportunities within a legacy claims portfolio that may have previously gone unnoticed. A strategic partner can support carriers in realizing their potential by leveraging industry-leading analytics tools to unearth opportunities to turn a financially burdensome book of business into a source of active capital generation.


  1. Unlock Internal Resources for Live Programs

Collaborating with experts in legacy claims allows businesses to reclaim critical internal resources for capital-generating opportunities. Entrusting a strategic partner with legacy claims management is a cost-effective way to stay on track to achieve long-term goals. By alleviating resources tied to legacy portfolios, carriers can work with strategic partners to identify growth opportunities and strategies for long-term success. Our dedicated Legacy Practice Group is entirely focused on the unique needs of the legacy claims sector, which means internal resources can be freed up to work elsewhere, reducing costs and expediting outcomes.

To learn more about how you can discover the capital opportunity in your legacy portfolio, visit our dedicated solution page for more information or book a free consultation today.

Chris Hampshire

VP Carrier Practice Sales

Chris Hampshire

VP — National Director, Carrier Engagement

More Posts


Navigating the Specialty Industry: Insights from the Target Markets Annual Summit

Join our Carrier Practice experts as they discuss the highlights and insights from the 2023 Target Markets Annual Summit. Team members Amy O’Brien, Caryn Siebert, and Jon Stambaugh, as well as Kirsten Mickelson and Doug Betkowski of GB Specialty, share their key observations around what is driving growth in the ever-evolving MGA, PA, and specialty program space.

Read more

Unpacking the CLM Construction Conference

The recent CLM Construction Conference stands to be one of the largest gatherings of insurance and litigation professionals, and this year our experts shared their insights on the use of technology to reduce risk, the impact of excessive verdicts in the construction industry, and strategic approaches for the settlement or trial of construction defect cases.

Read more

Technology Must-Haves to Unlock Legacy Portfolio Growth

Outdated technology can hinder claims management efficiencies, particularly with legacy claims portfolios. Discover the essential technology must-haves you should look for when trying to overcome integration challenges, enhance business intelligence, and efficiently manage legacy claims.

Read more

Keep your finger on the pulse of the latest industry news and insights.

Sign up to our monthly newsletter today.


Hi there!

Want to drop us a line?  You can get in touch by filling out the form below and we’ll get back to you as soon as possible!