A Sneak Peek Inside McKellar’s Brokerage Department

March 5, 2018

Customer service is at the heart of everything we do at McKellar.

Meeting tight deadlines is par for the course in providing the level of service for which we have become known.  No matter how short the timeline, however, maintaining the accuracy of our work remains paramount here.

For this reason, McKellar has a large dedicated department of Brokerage and Quality Assurance Specialists.  The six members of this department have two main responsibilities.

First Order of Business…The Math

The first responsibility is to run all structured settlement quotations for each and every file.  This includes quoting to determine the value of claims and benefits; preparing calculations of arrears and interest estimates; quoting illustrative proposal options at various funding amounts; and, finally, determining the very highest return available when a structured settlement is finally put in place.

When McKellar has received the funding for a structured settlement, the Brokerage and Quality Assurance department prepares what we call ‘final brokerage’.  This is a process of finding the highest annuity payments available from a given level of funding, for the client’s chosen structured settlement format.  The structure is quoted with all available life companies (in full, as well as broken down into pieces…like a puzzle) in order to ensure that the very highest payment available is ultimately secured for the injured person.

Second Order of Business…Accuracy!

The second main function of the Brokerage and Quality Assurance Department is to check each annuity quotation that we obtain, as well as all letters that reference any numbers, for accuracy.  Every letter and report that leaves our office is checked by one, two, or often three members of our department.

All final quotations at the funding stage are reviewed by a minimum of two Quality Assurance Specialists.  In this quality assurance stage, the annuity quotations are checked for accuracy. In addition, each person checking the quote will double check that there is no other way of quoting the option that would provide a better yield.

And, of course…"Other Duties as Assigned"

The Brokerage and Quality Assurance department also compiles various reports and analyses for internal use, for the various life insurers that issue structured settlements, and for the casualty insurance companies, as required.  This includes year-end valuation figures for every annuity purchased, for each casualty insurer’s financial statements.

As a team, the Brokerage Department takes pride in providing an unmatched level of service on every file, no matter the time constraint.

It is simply not enough to have a sharp eye or affinity for numbers to live up to the standard they set.  A deep understanding of the various annuity rates at their disposal and how they interact, not to mention knowledge of the constantly changing Accident Benefits legislation, makes this department one of the many factors that sets McKellar apart.