Insurance Carrier

Company: Top 5 Property & Casualty Insurance Carrier
Line of Business:
Commercial Lines
Location:
North America
Client History:
Cybersettle customer since 1999

 Challenge:

  • Improve efficiency in order to increase business while maintaining current resource levels
  • Reduce cycle time on claims but keep customer satisfaction high and continue to pursue critical business initiatives
  • Increasing pressure on Claims department to reduce its expenses!

Resolution:

  • Training of all Commercial claims adjusters in more than 25 regional claims offices to use Cybersettle on plaintiff attorney represented claims meeting management submission criteria

Results:

 

  • Submitted approximately 4,000 claims in 2005
  • Reduced cycle time by an estimated 270,000 days
  • Company’s claims have increased by 20% during the past two years, yet by using Cybersettle the company has maintained adjuster levels by increasing adjuster efficiency
  • ALAE is down while ULAE has remained unchanged despite the increase in the number of claims
  • Estimated ROI: 1000+%