Cybersettle for Insurance Carriers

Recent industry studies have shown that U.S. property and casualty insurers spent over $54 billion a year in claims adjustment expenses. The average time that a bodily injury claim spends in the negotiation stage has gone up to 8 months or more!

Insurance carriers that use Cybersettle avoid significant legal costs, experience lowered unallocated expenses due to reduced claim cycle time and provide customers with additional value in the form of faster loss payments. And Cybersettle helps claims professionals settle claims faster and increases productivity. Using Cybersettle will lead to a considerable reduction in your company’s annual pending claim volume and will result in substantially lower costs.

Why Should Insurance Carriers Use Cybersettle?

Cybersettle helps claims professionals improve the efficiency and productivity of the companies they represent.

  • Accelerate Settlement
    • Cybersettle expedites settlement via its patented, web-enabled process.
    • Encourages communication
    • Creates momentum and enthusiasm
    • Reduces lag time between completion of claim evaluation and communication of first offer
    • Positions parties to resolve the dispute
    • Provides opportunity for instant settlement online or expedited settlement offline
       
  • Cut Costs - Cybersettle delivers significant expense savings to the carrier and improves productivity.
     
  • Totally Secure Transactions - The Cybersettle Web site is password-protected and uses state-of-the-art, 128-bit SSL (Secure Socket Layer) encryption.
     
  • Telephone Support - Claims Professionals and Attorneys who prefer not to use our website can contact our Customer Support Center and respond to a claim via the telephone. A customer support representative enters demands or offers per the caller’s instructions and advises on the status of the claim.
     
  • Reduce Telephone Tag - Cybersettle can be used 24/7 to convey offers and demands on claims via the Internet. Claims professionals can access the Cybersettle Web site from any computer with Internet access.
     
  • Non-Confrontational - Cybersettle offers a non-confrontational environment through which parties can submit offers and demands. All offers and demands are made in the blind – if your dispute does not settle online, you do not compromise your bargaining position.
     

Cybersettle offers 3 tiers of outstanding customer support.

  • Regional Directors – are located throughout the country and assist clients with training, benchmarking, reporting, analysis of results and calculation of savings.
     
  • Plaintiff Attorney Sales Team – advances awareness and usage by attorneys across the country. Encourages attorney participation.
     
  • Customer Support Center – located in Greenwich, Connecticut, our Customer Representatives are available to answer any questions you may have. Customer Service Representatives report back to clients on the status of claims submitted.

It is a known fact in the insurance industry that the longer a claim remains open, the more expenses a company will incur. An Accenture study and independent client results have PROVEN that Cybersettle reduces the average time it takes to settle a case by as much as 4-6 months!

By using Cybersettle, Claims Professionals will spend significantly less time trying to track down Attorneys and will avoid wasteful personality conflicts and posturing/positioning. Progressive claims professionals will increase their job security by standing out among peers in helping reduce pending claims and lowering company expenses.

For more information on how Cybersettle can help you reduce your company’s ALAE and ULAE expenses call us at and ask to speak with a member of our Insurance Operations team. To find out how Cybersettle can validate cost-savings through a pilot program please contact us.