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- Originally Broadcast on May 13, 2009
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Presented by:
Automation: The Foundation for Achieving Compelling Improvements in Subrogation Results.
Subrogation claims represent large transaction volumes and a significant impact on loss costs, yet have remained a low priority for many carriers seeking to improve claim performance. Manual and transaction-intensive, current auto physical damage subrogation recovery methods are characterized by long cycle times, missed claims and inconsistent processes, which results in the loss of billions of dollars in potential recoveries annually.
As is the case with nearly every area of the claims process, automation eliminates steps, reduces human error and provides measurable improvements to overall claims management; the same is true for subrogation. According to industry benchmarking and usage studies, carriers using an automated subrogation solution can reduce cycle time by 25 percent, recover an average $60 more per file and spend approximately $70 less per file to resolve. Significant early results to be sure, but only the beginning.
Attend this session to learn:
· How automation can create more efficient collaboration between internal teams and outside parties related to the subrogation process.
· How sophisticated scoring tools can be used to mine additional value from your data and analytics and provide insight for better decision-making and workflow optimization.
· How automation can lead to best-in-class subrogation units characterized by repeatable, objective processes that reduce friction between involved parties, improve profitability and customer satisfaction.
· How best to evaluate subrogation tools to realize optimal return on investment.
Featured speakers:
Alan Aleia, Vice President of Product Management, Subrogation, CCC Information Services Inc. VIEW BIO
Fred Iantorno, Executive Director, CIECA VIEW BIO
Charley Quirt, Project Coordinator, CIECA VIEW BIO
Eric Gilkey, Editor-in-Chief, Claims Magazine VIEW BIO