Web-assisted Claim Resolution Services
Cybersettle’s patented double-blind bid process allows parties to settle
disputes instantly, 24 hours a day, 7 days a week via the Internet, or by
calling our Customer Service Center during normal business hours. The system
compares parties’ offers and demands on a round-by-round basis.
Typically, a claims professional (but sometimes a plaintiff’s attorney) will
initiate the process by inputting confidential offers or demands upon claim
evaluation. Upon claim submission, the opposition is instantly notified by fax
/ e-mail and mail that offers are pending in the Cybersettle system. The entire
process only takes a few minutes.
Cybersettle immediately notifies the responding party by phone, fax, letter
and
email that the claim is online and available for settlement and also provides a
username and password to1st time users. Where needed, Cybersettle’s Settlement
Center – highly trained service representatives – contact the opposition to
explain the process in detail and encourage participation.
Once the respondent logs in he or she will have 3 opportunities (rounds) to
settle the claim. One demand or offer is entered for each round. Each round,
Cybersettle instantly compares the demands to the opposition’s corresponding
offer. When the offer is greater than or equal to the opposition’s demand, the
claim instantly settles.
Settlement Example
|
Round
|
Offer
|
Demand
|
Result
|
|
1
|
$10,000
|
$20,000
|
No Settlement
|
|
2
|
$12,000
|
$16,000
|
No Settlement
|
|
3
|
$14,000
|
$13,000
|
Settled for $13,500
|
Either side may resubmit the claim, or both sides can agree to participate in
telephone facilitation services.
The following are general categories of claims supported by the Cybersettle
system. For more information on tailoring our product to your company’s needs,
please contact our Operations Department at (888) 656-3600.
| Auto & General Liability | Workers Compensation | Subrogation | No Fault |
Auto & General Liability Claims
Cybersettle’s patented technology allows parties to settle a broad range of
claim related disputes. Both personal and commercial lines carriers use
Cybersettle to expedite claim settlements. The most common type of insurance
claim submitted into Cybersettle is a bodily injury claim resulting from an
auto, general liability or uninsured/underinsured motorist claim. Litigated
claims can also be resolved using Cybersettle at any point which makes
financial sense. Cybersettle has facilitated settlements ranging from $500 to
$13 Million.
The following are basic guidelines for submitting bodily injury claims to
Cybersettle:
- Complete investigation and evaluation prior to submission
- Obtain authority from appropriate parties
- Determine acceptable settlement range
- Liability issues resolved or no liability, but nuisance value has been
established
- MOST IMPORTANTLY – submit walk-away numbers, you have nothing to lose!
Bodily injury claims follow standard pricing in the absence of a volume
agreement between Cybersettle and the customer.
If you have any questions or need assistance with a claim, we are here to help
you. Please contact us
today.
|