March Madness and Subrogation: Avoiding Costly Turnovers in Claims Recovery
As March Madness takes over the sports world, it’s a great time to draw some parallels between winning strategies on the court and successful subrogation recovery. Just like in basketball, where every possession matters, in claims subrogation, every missed opportunity can cost insurers millions in lost recoveries. At SubroIQ, we specialize in helping carriers, TPAs, and self-insured organizations maximize recoveries by eliminating subrogation turnovers.
The Full-Court Press: Identifying Missed Subrogation Opportunities
In basketball, a full-court press is used to apply relentless pressure, forcing turnovers and creating scoring opportunities. In insurance subrogation, a similar aggressive approach is needed to identify and recover missed subrogation opportunities before they slip through the cracks. Studies show that up to 15% of all claims are closed with missed subrogation potential, and in some lines like workers’ compensation, that number climbs to nearly 30%.
To win the subrogation game, insurers must implement advanced analytics, closed file audits, and expert claims handling to ensure that no recovery is left on the bench.
Avoiding Fouls: Common Mistakes That Lead to Claims Leakage
In basketball, careless fouls can change the outcome of the game. In claims subrogation, common mistakes lead to significant claims leakage, resulting in millions of dollars in lost revenue. Some of the most frequent subrogation errors include:
- Failure to assess comparative negligence – Too often, adjusters overlook shared liability scenarios where recovery is possible.
- Overlooking evidence – Missing police reports, witness statements, or critical documentation can weaken a case.
- Premature file closures – Pushing files to closure without a thorough subrogation review can leave substantial recoveries on the table.
- Relying solely on AI and automation – While technology is crucial, it can only take insurers 80% of the way. Complex liability scenarios still require human expertise.
Winning the Championship: The SubroIQ Playbook for Maximizing Recoveries
At SubroIQ, we deploy a championship-level strategy to ensure subrogation success. Our proven SubroIQ Technology blends AI-driven analytics with over 600 years of combined subrogation expertise, identifying missed opportunities that traditional models overlook. Through patent-pending solutions like ReverseSubrogation™, we have helped insurers recover millions in previously lost claims.
Take Your Subrogation Game to the Next Level
March Madness is all about momentum, strategy, and execution—the same principles that drive successful claims subrogation. Don’t let missed recoveries and claims leakage put your organization on the losing end of the scoreboard. Partner with SubroIQ to implement proven strategies that maximize recoveries and keep your financials in championship form.
Are you ready to eliminate costly turnovers and boost your subrogation success? Contact SubroIQ today for a FREE closed file audit and start winning more recoveries!