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Case Study – 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 Subrogation 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:
- Roll-out 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
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