TORRANCE, Calif. (July 21, 2021) – Keenan, an industry-leading California insurance brokerage and consulting firm for health care organizations and public agencies, has been named a 2021 "TPA Team of the Year" finalist by Business Insurance, the leading source of news, information and data on risk management, workers compensation and commercial insurance. Keenan is one of five finalists in the TPA Team of the Year category from a pool of 180 nominations.
Keenan's recognition is based on its strong team culture, commitment to its staff, and excellence in consistent and well founded claims decisions, leading to significant achievements during the COVID-19 pandemic, including lower claims costs for clients.
"I am proud of this team, whose exceptional efforts led to our selection as a finalist," said Sean Smith, President of Keenan. "Throughout the past year and a half, our claims professionals worked swiftly to efficiently address COVID-19 claims and provide injured workers the care and resources they needed. The results of collaboration throughout our company were exceptional."
Throughout 2020 and the first half of 2021, Keenan achieved low denial rates and estimated costs that consistently beat estimates from the Workers' Compensation Insurance Rating Bureau of California (WCIRB) while managing compensability decisions in accordance with several new sets of laws in California. Keenan experienced a very low denial rate of 8%, versus WCIRB's estimate of 28% and attributes this to the firm's ability to consistently interpret challenging laws designed to provide benefits due to injured workers, as well as a thorough investigative approach that results in fully supported and consistent compensability decisions. Keenan also saw a lower average estimated cost per COVID-19 claim of $10,700 versus the WCIRB's estimate of $29,100 and attributes this to its medical management team's expertise and collaboration with core team members. In addition, Keenan maintained a low litigation rate of 0.012% for clients due to its team's ability to build rapport with injured workers and collaborate with employers.
"We have achieved these results despite an extremely challenging health crisis, and we will continue to deliver timely benefits with empathy and compassion," said Smith. "Our bedrock principle is to do the right thing while maintaining a personal and professional relationship with our clients, every injured worker, and business partners."
As defined by Business Insurance, the TPA Team of the Year award recognizes teams of professionals working on specific projects in the commercial insurance and risk management sector. Finalists are selected by senior Business Insurance staff from nominations submitted to the publication and are further assessed by a panel of risk managers to arrive at a winner. A complete list of 2021 U.S. Insurance Award finalists in 11 different categories can be found on Business Insurance's website. The 2021 U.S. Insurance Awards ceremony will take place via a virtual event on Thursday, September 30, 2021, from 3:00 p.m. – 5:00 p.m. EST.
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About Keenan
Keenan has a 49-year track record of serving schools, community colleges, health care organizations, and public agencies. As part of the AssuredPartners group of independent brokers, currently ranked as the 11th largest in the U.S., Keenan provides innovative employee benefits, health benefits management, workers' compensation, risk management, and property and liability programs throughout the country. For more information, call 800-654-8102 or 310-212-3344, email info@maintenance.assuredpartners.com/keenan or visit maintenance.assuredpartners.com/keenan.