SubroCheck™
Recapturing missed opportunities
Missed subrogation is a regular occurrence in every insurance company. Even with best practices, excellent adjuster training, and thorough review, it is inevitable that mistakes will sometimes occur. This is where SubroCheck comes in.
How it works
It’s easy, SubroCheck may be installed on-premises, in a cloud, or provided as a service through a secure and encrypted connection. SubroCheck is already trained to apply machine learning and natural language processing (NLP) to comb through all the documentation of every claim for key facts that indicate subrogation potential. It then performs a complex analysis to understand the chain of events, conditions of the incident, the actions of each party, and incorporates witness, police, and adjustor notes about liability. An interactive report is then generated and sent to a subrogation specialist, showing each missed opportunity’s summary and subrogation-potential score. The score helps prioritize the recommendations. For example, a higher priority may be given to greater estimated recovery amounts, at least six-months time before the statutory expiration date, and for claims where the incident took place in specified states. The report also enables specialists to see the reasons SubroCheck gives for subrogation by clicking on highlighted parts of the documentation.
Read this case study about a mid-sized P&C insurance company that was relying on their team of specialists to spend time running searches in claim notes that may indicate subrogation potential. After attempting different methods and realizing their efforts had very poor ROI for the time invested, they sought help and found SubroCheck.
Benefits
