Subrogation
While many companies believe that they find most subrogation opportunities, the real question is not if they find these opportunities, but when. Adjusters are trained to look for subrogation and refer any opportunities to specialists. However, there are challenges with this method, including heavy workloads, high turnover and a system that relies on the availability and knowledge of individuals. By using analytical tools such as statistical modeling and fuzzy matching of data to target lists, some of these challenges can be met.
Unlike rules that target specific known cases based on experience, statistical models can identify new patterns in the data that indicate the likelihood of a subrogation recovery possibility. Modeling and matching tools benefit the subrogation process by:
- Fast-tracking claims.
- Mitigating loss exposure and reducing severity.
- Improving customer satisfaction benefit from competitive premiums.
- Focusing adjuster and specialist time on the most promising cases.
For more information on solutions that can assist you in the subrogation process, please click on the links below:
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