Subrogation Claims Management System

Overview

This application provides a flexible system for companies to handle subrogation portfolios, maximize recovery opportunities and accrue the greatest cost savings over time.  The system treats each subrogation claim as a unique case, following it through the process and concludes with a satisfactory resolution.  It provides access to professional subrogation staff to allow them to handle multiple files and documents related to a case.   

Key Features & Functionality

• Ability of the system to handle both property and automobile subrogation claims.
• Minors as intake agents can create a new client to the system and add any number of claims linked with the client.
• Bulk claim intake option is available to create multiple claims in single shot and representatives to handle the claims can be also defined.
• Ability of the system to allow the users to update client and claim details and manage documents related to it.
• Ability of the system to maintain and integrate claim and client records.
• Subrogation officer review to assess the claims and settle them by handling documents and communication with the recipient via email and SMS
• Ability of the system to allow the user to set reminders in the form of diaries and get notified about the end date.
• Manage all the payment related information for the policyholder and tortfeasor in a single view.
• Create a system generated demand letter PDF format and send it across email to the tortfeasor about the amount.
• Audit log will have details on all the actions made during the claim settlement process.
• Ability to reduce redundant administrative effort and improve data quality with consistent communication and claim assessment processes.
• Provides the ability of users across the platform to create clients, claims and define the tortfeasor.
• Report generated helps the subrogation company to track the status of claims, settlement and, the performance of officers.
• Graphical view of the status report based on settled or subrogation needed. The claim intake report also gives the insight on claims added to different clients across the months.
• Performance report shows the time taken to resolve the claim from the date of initiation, on the basis of average days to close.

Benefits & Business Impact

• Help identify recovery opportunities and rate the likelihood of success.
• Improve the subrogation management process and tracks the workload of subrogation specialists.
• Reduce the number of clerical tasks, handle multiple documents evidence easily and create demand letters seamlessly.
• Enhance the bottom line via focused and timely subrogation, streamline and manage workload with recent file tracking, follow-up reminders, alerts, diary, integrated document management.