March Madness is upon us with a flurry of activity as millions complete their NCAA brackets. Who will be the national champion? Will there be a Cinderella story? With 68 teams vying for the title, it is anyone's guess, and far from predictable.

So why is it that this particular sporting event is so hard to predict? Perhaps it is because of the high level of talent that permeates NCAA basketball. Players and coaches execute with precision and perfection in one of the fastest sports around. At the end of the day, the execution of fundamental skills will ultimately prevail in this championship, as is the case in claims handling.

As office pools are forming, now is a great time to indulge in this exercise by turning it into a life lesson to better your own claims organization. What makes Louisville a number one seed? What makes Davidson a great choice for an upset pick? Can San Diego State leverage the elite talent of Jamal Franklin to be Cinderella? These, and many other questions, will be answered over the next couple of weeks.

March Madness provides a lot of lessons that we can take to the boardroom. It is the ultimate test of teamwork, perseverance and coaching. These are fundamental lessons that many claims organizations can use to build upon.

One of the most interesting aspects of March Madness is that it brings together diverse styles of play, reflecting that there is more than one way to skin a cat. Fifth-seeded Wisconsin is anything but a fast team, leveraging the clock with perhaps the slowest offense in the tournament, while 8^th seeded Pitt simply tears apart opponents with their aggressive play. Of course, there is Gonzaga, once a Cinderella, now the number one seed. Different styles, different players, different philosophies that all win games.

At the heart of hoops is a rather simplistic game with very basic tenets that form the foundation. So too is this true in our organizations, where claims share the common foundation of liability and damages. How we attack the claim is a different matter. The key to success in both worlds is consistency. We must develop our playbook and then consistently execute.

We can also learn a great deal from the teams that falter. A mere one year ago, 15^th seeded Lehigh upset perennial powerhouse and second seeded Duke. Could it happen again this year? Could Bucknell or Albany spring a surprise? The question is not if, but rather who, as the excitement of March Madness begins.

The takeaway for our organizations is that nobody is invincible. No matter how well we believe our processes and procedures are working, somebody just may have a better way. If the opponent does a better job of leveraging capital and resources, they may slowly whittle away at market share with better claims handling and lower pricing. Just as Gonzaga and Butler have morphed from ordinary to extraordinary, so to can our organizations.

The key to success is to develop a plan built upon the basic principles of people, processes and technology. By acquiring the best talent, we form the foundation for success. Effective processes and technology enable us to leverage that talent better than the competition, precisely how many mid majors have exceeded expectations. It is through our playbook, coaching and leadership that we develop the extraordinary organization that just may become the number one seed.

Special Reports /

Getting The #1 Seed for Your Claims Organization

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