Why wait for expert advice?
In most cases, Class Action Administrators are approached by Counsel once settlement agreements are about to be inked. Although both sets of Counsel are the two parties who will ultimately agree upon the terms and conditions of a settlement, the fact is that Counsel may not be the best individuals to create a relief program that is going to operate efficiently. Establishing the relief is one thing, setting up a mechanism to implement that relief is another. Why wait to bring in a Class Administrator until after the ink is dry?
Although pre-settlement roles and responsibilities are addressed in the claim administration settlement section of this website as part of a cafeteria of services, TCS wants to take this opportunity to highlight the importance of being able to offer such standalone knowledge and expertise on a consulting basis prior to the settlement being finalized.
Does your Claims Operation need a tune-up?
Some Class Actions only last a few months, others last a few years. The TCS management team managed the polybutylene settlement for close to 15 years. In any case that runs over three years, priorities change, key components change, key personnel change, technology changes and guess what – folks get sloppy. Above all there is always a fixed cost to claims processing and as claims volumes decrease as the case unwinds, the average cost to handle a claim begins to rise. Unless you have your own internal audit/review team continuously re-evaluating the claims process, productivity is going to decrease and costs per claim are going to increase. So often you believe that you are doing everything the best way you can, but sometimes you cannot see the wood for the trees. Bringing in a third party to do a quick review with an objective eye, can quickly give your operations a well-deserved tune-up.
TCS has the knowledge and expertise to share with you in either of these situations. Call us now and (i) begin the Class Action Program with a well-defined process that will implement the relief program like a well-oiled machine and (ii) keep us in your back pocket to come in after a few months or years to ensure that the well-oiled machine is still performing at its peak or does it need a few tweaks here and there to keep it at maximum performance.