8 Sorrento Drive - Suite 5, Osprey, FL 34229 | Phone: (888) 878-9579 | 
Fax: (941) 966-1277 | raasone@comcast.net

RECOVERIES:  RAAS Inc. clients have recovered over Five Million Dollars in unsupported, duplicate and improper payments made to claimants and providers by their Third Party Administrators or self-administered operations.

ANALYSIS:  RAAS Inc. clients have been assisted in evaluating the safety of their assets held in commingled funding accounts at their Third Party Administrators.  In addition, they have been able to request and make dividend payments to association members based on independent reserve evaluations completed by RAAS Inc. staff.

ADJUSTING:  RAAS Inc. staff has served their clients by monitoring their Third Party Administrator’s performance on claims that have pierced the Self Insured Retention or aggregate layers.  Excess carriers have assigned claims to RAAS Inc. staff for adjudication and settlement.

SERVICE:  RAAS Inc. prides itself on the quality and timeliness of its work product.  RAAS Inc. reports are regularly delivered to its clients within 7 business days of completion of the fieldwork.




Isn’t it time you contacted a RAAS Inc. representative at (888) 878-9579 to see how well your Third Party Administrator or self-administered operation is performing??

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As a quick overview, Risk Auditing and Advisory Services (RAAS, INC.) will provide the following services:



Claim Files are reviewed and statistics compiled for objective comparison to RAAS, Inc’s nationwide statistics.



Claim files are reviewed to analyze the accuracy of the case reserves. In addition, RAAS, INC. is qualified in Michigan to review association reserves for return of surplus to the members.



Process Maps are created through staff interviews to identify claim handling strengths and areas for improvement.  Recommendations are made to improve the efficiency and operational controls of the organization.



Claim files and contracts are reviewed in detail to prepare for litigation and to evaluate the accuracy of payments and reimbursement requests.


Our independent professional services are custom designed to assist you in managing your self-insurance programs.  We take the current services provided by your CPA and broker a step further.


For further information or an appointment, please call me, Richard Schacht, at (888) 878-9579.


Thank you.

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On January 1, 1993, Richard Schacht formed RAAS, Inc. and began operations from an office in Novi, Michigan.  In April of 1993 the company was incorporated in the state of Michigan.


At first RAAS, Inc. and its staff focused on the Workers’ Compensation exposure of self-insured entities and associations who either self administered their claims or used a Third Party Administrator (TPA) to process and adjudicate their claims.  The first products created by RAAS, Inc. were claim financial and claim technical reviews of claims operations, both third party and in-house departments.


Many of RAAS, Inc.’s clients also were self-insured for general and auto liability exposures.  RAAS, Inc. and its staff of claims experts were then asked to review the liability claim processing on their clients’ behalf.  In addition, toward the end of the second year of operations, RAAS, Inc. was accepted by the state of Michigan as one of three organizations authorized to complete case reserve reviews of Workers’ Compensation associations.


During the first years of operations, RAAS, Inc. serviced the needs of primary and excess insurers with respect to monitoring their claims being processed by third party administrators.  RAAS, Inc. and its staff became involved in the operations and claims adjudicating process of the TPA.  As a licensed adjusting company for all lines RAAS, Inc. staff assisted in the adjudication and settlement of claims for its insurance company clients.


Next RAAS, Inc was asked by its clients to get involved with their self-funded employee benefits plans.  Reinsurers and MGUs engaged RAAS, Inc. and its staff to complete aggregate stop loss audits.  Utilizing the claims, auditing, accounting and business expertise of its staff, RAAS, Inc. expanded the scope of the typical aggregate audit to include an analysis of the claim to determine the reason for the aggregate loss.


RAAS Inc. is now in its nineteenth year in business and specializes in self-funded Workers’ Compensation, general and auto liability insurance programs, and employee benefits.  From its offices in Michigan, New Jersey and Florida, RAAS, Inc. staff provides countrywide case reserve analysis, claim technical reviews, claim financial reviews and stop loss auditing for insurance companies, reinsurers, MGUs and self-insured entities and associations.

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A seasoned management executive with broad insurance claims review background including multi-state Workers’ Compensation and most property/casualty and Life/Health lines.  He is a CPCU with internal and external consulting experience, who honed his interpersonal and analytical skills in dealing with personnel at all levels of an organization.


Completed numerous claim reserve reviews for Michigan Workers’ Compensation associations in preparation for a return of surplus (dividend) to their members.  The State of Michigan Bureau of Workers’ Disability Compensation has recognized and approved Mr. Schacht for providing claims reserve sufficiency audits.  These audits are required by the bureau and performed annually on all group self - insured funds in Michigan.


A past faculty member of the Financial Services Institute in Livonia, Michigan where he instructed classes for Michigan insurance agents to obtain continuing education credits in Property & Casualty and Life & Health lines.


Served as an expert witness for a Michigan manufacturing company involved in coverage and claim payment disputes, an employee benefits dispute in Texas and major Workers’ Compensation cases in Louisiana and Florida.


Completed stop loss aggregate and specific audits throughout the United States on behalf of Managing General Underwriters and stop loss carriers wherein stop loss claims were evaluated for reimbursement. 


Completed organizational, financial and technical reviews of insurance programs for a major national insurance group.  This included claim financial and technical analysis with comparison to RAAS, Inc. industry standards developed over a ten-year period.  As the prior senior financial officer of a Michigan based national TPA, was responsible for supervising the in-house quality control function and for completing audits of Workers’ Compensation and claims in liability, life and health lines.  In addition, recommended changes in quality standards where needed to improve the technical, IT, and financial controls over the claims administration process.




Chartered Property Casualty Underwriter (CPCU) - 1989

Certified Data Professional  (CDP) - 1985


LICENSES HELD: (State of Florida & Michigan)

Insurance Company Adjuster including Workers’ Compensation



B. S. in Business Administration, Northwestern University, Evanston, Ill.



“Managing a TPA From a Self-insured’s Perspective”, March, 2002,  “The Self-Insurer”, a publication of the Self-Insurance Institute of America.  “WC Claims File Checklist Boosts Auditor” October 28, 2002 “National Underwriter”, “An Excellent Workers’ Compensation File, An Auditor’s Perspective” July 2003, “The Self-Insurer”, “Electronic Auditing, The Wave of the Future?” August 2003, “The Self-Insurer”, “Workers’ Compensation Reserving, an Art or a Science”, October 2004, “The Self-Insurer”, The Healthcare Savings Chronicle, “What is Stop Loss Actually?” January 2005.


The following is a listing of expert witness cases in which he has provided services together with the results of each case:


Case Result
FRIS vs Alexsis/Rskco, Inc. 1998Settled prior to depositions
Louisiana Safety Association of Timbermen vs. National Safety Corp. – 2002/03Settled prior to trial
Morgan USA vs. Group Resources –2002
Settled prior to depositions
Gregg Industrial vs. BenesightArbitration Hearing 2003
Aquila vs. BenesightSettled before depositions

Shel Jacobs vs. Alexsis, Inc. Employment Liability Case – 1991

Settled after deposition but before trial
Louisiana Safety Association of Timbermen vs. IntracorpSettled at Mediation


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Mr. Gary Wood


Michigan Technology Mutual Insurance Co.

P. O. Box 9151

Farmington Hills, MI. 48333-9151

(248) 488-0300


Mr. Tim Hanna

Fund Administrator

Michigan Restaurant Association

1690 Watertower Place, Suite 500

East Lansing, MI. 48823

(517) 349-6640


Mr. Chris Duncan


Home Builders of Louisiana Self-Insurance Fund

660 Laurel Street

Baton Rouge, LA. 70802

(225) 387-0286


Mr. David Price

Fund Administrator

Michigan Rehabilitation Association

417 Seymour, Suite 5

Lansing, MI. 48933

(517) 484-5588


Mr. Doug Wells

Chief Financial Officer

Louisiana Association of Timbermen

113 E. Main Street

Winnfield, LA. 71483

(318) 628-6730


Mr. Larry Peck

Fund Administrator

MI. Municipal W.C.S.I. Fund

1675 Green Road

Ann Arbor, MI. 48106-1487

(734) 669-6344


8 Sorrento Drive - Suite 5
Osprey, FL 34229
Montclair, NJ 07043
Northville, MI 48167
888-878-9579 Fax: 941-966-1277

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