Subrogation

Companies:
 The City of New York and a Top 5 Property & Casualty Insurance Carrier
Line of Business:
Subrogation Claims
Location:
North America
Client History:
 City of New York: Cybersettle customer since 2004
Top P&C Carrier: Cybersettle customer since 2005

 

 Challenge:

  • Implement and manage claim settlement process to accelerate resolution of sSubrogation claims and improve recovery efficiency
  • City of New York claim backlog and budget issues placed considerable burden on resources
  •  P&C carrier experienced difficulty obtaining voluntary payments on rightfully owed claims

Resolution:

  • Rollout of accelerated Subrogation recovery project between P&C carrier's Subrogation unit and City
  • Web-assisted process allowed either party to submit a claim online as applicant or respondent

Results:

  • 80% settlement rate on claims submitted
  • 75% Subrogation success rate
  • $2,406 average recovery per claim won
  • 2.8 days average time to online resolution