Case Study – Top 10 Global P&C Carrier

Company:	Top 5 Property & Casualty Insurance Carrier
Line of Business:	Personal Auto
Location:	North America
Client History:	Cybersettle customer since 1998

Challenge:

• Cycle time on settling attorney represented claims was more than 150 days between claim evaluation and final settlement
• At a reported cost of $20+ per day to keep a file open, the average cost to the carrier to process a file from evaluation to settlement exceeded $3,000.
• Increasing pressure on Claims department to reduce its expenses!

Resolution:

• Training of each of their Bodily Injury adjusters in their 15 regional claims offices to use Cybersettle on plaintiff attorney represented claims meeting management submission criteria

Results:

• Claims Professionals submitted over 8,000 claims over a one year period.
• Customer reported more than 100 days cycle time reduction on 60% of claims submitted to Cybersettle
• Reduced carrying costs of settled claims by an estimated $2,000 per file!
• Total annual savings in excess of $10 Million
• Estimated ROI: 1,000+%