RAAS INC. RISK AUDITING & ADVISORY SERVICES, INC.
8 Sorrento Drive - Suite 5, Osprey, FL 34229 | Phone: (888) 878-9579 |
Fax: (941) 966-1277 | email@example.com
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.
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.
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.
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.
INDEPENDENCE & INTEGRITY IN RISK AUDITING SERVICES
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??
RAAS, INC. PROFILE
a quick overview, Risk Auditing and Advisory Services (RAAS, INC.) will provide the following services:
PERFORMANCE AND COMPLIANCE REVIEWS
Claim Files are reviewed and statistics compiled for objective comparison to RAAS, Inc’s nationwide statistics.
RESERVE ADEQUACY REVIEWS
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.
EXPERT WITNESS & FORENSIC INVESTIGATIONS
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.
RISK AUDITING &
ADVISORY SERVICES, INC. (RAAS, Inc.) COMPANY HISTORY
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.
CURRICULUM VITAE OF
RICHARD A. SCHACHT, CPCU & CDP
PRESIDENT, RAAS, INC.
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.
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:
|FRIS vs Alexsis/Rskco,
Inc. 1998||Settled prior to depositions|
|Louisiana Safety Association of Timbermen
vs. National Safety Corp. – 2002/03||Settled prior
| Morgan USA vs. Group Resources –2002
||Settled prior to depositions|
|Gregg Industrial vs. Benesight||Arbitration Hearing 2003|
|Aquila vs. Benesight||Settled before depositions|
Shel Jacobs vs. Alexsis, Inc. Employment Liability Case – 1991
|Settled after deposition
|Louisiana Safety Association of Timbermen vs. Intracorp||Settled at Mediation
RAAS, INC. CLIENT
Mr. Gary Wood
Technology Mutual Insurance Co.
P. O. Box 9151
Hills, MI. 48333-9151
Mr. Tim Hanna
Michigan Restaurant Association
1690 Watertower Place, Suite
Mr. Chris Duncan
Home Builders of Louisiana Self-Insurance Fund
660 Laurel Street
Baton Rouge, LA. 70802
Mr. David Price
Michigan Rehabilitation Association
417 Seymour, Suite 5
Lansing, MI. 48933
Mr. Doug Wells
Chief Financial Officer
Louisiana Association of Timbermen
113 E. Main Street
Winnfield, LA. 71483
MI. Municipal W.C.S.I. Fund
1675 Green Road
Ann Arbor, MI. 48106-1487