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RISK AUDITING & ADVISORY SERVICES, INC.
RAAS, INC. “The Insurance & Claims Auditing Specialists” RAAS, INC.
4140 Woodmere Park Blvd. – Suite 4 E-mail: raasone@cs.com Montclair, NJ. 07043
Venice, FL. 34293 Northville, MI. 48167
(888) 878-9579 Fax: (941) 492-4669
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RISK AUDITING & ADVISORY SERVICES, INC. (RAAS, Inc.) COMPANY HISTORY
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 for the return of surplus to the members.
RAAS, Inc.’s operations include servicing the needs of primary and excess insurers with respect to monitoring their claims being processed by third party administrators. RAAS, Inc. and its staff become 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 as well as performance and compliance reviews. 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 eleventh year in business and specializes in Self-Funded employee benefit, Workers’ Compensation, general and auto liability insurance programs. From its offices in Michigan, New Jersey and Florida RAAS Inc. staff provides countrywide stop loss auditing, case reserve analysis, claim performance & compliance reviews, claim financial reviews and service fee auditing for insurance companies, reinsurers, MGUs and self-insured entities and associations.
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