Trust Services, Inc., Implements a Unified System for Multiple Entities and Yields a 30% Efficiency Gain
Published: August 19, 2013
Trust Services, Inc. (TSI) is a claims processing facility that manages the distribution of bankruptcy trusts’ funds to claimants who suffered bodily injury from asbestos and silica exposure. As part of each trust’s approval process, trust distribution procedures (“TDP”), confirmed by bankruptcy courts, have been issued to provide the requirements and guidelines for allowance and payment of claims that are affected by a variety of factors unique to each trust. The combination of TSI’s professional team, along with reliable and accessible systems, create a comprehensive solution to review and expeditiously pay allowed claims.
Every trust managed by TSI has specific procedures negotiated during the bankruptcy process. Initially, TSI’s internal IT organization built individual custom applications to process and manage claims for each trust after being chosen as the administrator. This resulted in disparate systems uniquely coded for each trust. This did not permit efficiencies gained by having a single core system and resulted in a higher than acceptable level of difficulty in modifying system functionality. Multiple systems also made it difficult to train and assign employees to work on more than one trust, which limited system and people optimization.
Reporting was also complicated. Because each trust’s database was a different structure, common claims management reports had to be re-written for every trust. This resulted in duplicate report development effort, and resulting information was often inconsistent from trust to trust due to the nuances of an evolution of database tables and fields.
- 30% improvement in analyst’s cost-to-process metric
- Reduced time to add a new trust from six to nine months to two to three months
- Support available from a team of people
- System changes are more quickly deployed
- Reports are leveraged across all trusts i Real-time information to claims analysts
- Employee training and cross training is simplified
- Able to identify areas customer may need additional training
- Laserfiche® integration for document management
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