A combination of complex data analysis and the use of costly resources are commonly required to effectively identify missed subrogation opportunities on closed files. In most cases, however, carriers do not have the appropriate analytical tools and their internal resources are faced with competing demands and higher priorities.
Driven by an IT platform that couples proprietary software with predictive modeling tools, SubroIQ is able to systematically analyze mass amounts of data to hone in on the small percentage of claims with real subrogation potential. SubroIQ also offers the manpower with the necessary subrogation expertise to qualify each claim identified by the software.
- Gauge the extent of missed subrogation leakage
- Recoup lost subro dollars while focusing internal resources on higher priorities
- Identify trends and patterns to fix internal leakage points
Regardless of the sophistication or number of stop gaps used by carriers to prevent subrogation leakage, SubroIQ has been successful in finding missed subrogation due to breakdowns in processes or manual oversight.
Real-time subrogation analysis.
SubroIQ’s missed subrogation analysis can also be deployed on a real-time basis, providing a “safety net” for carriers. Time sensitive issues such as spoliation, notice of liens and expiring statutes are actively monitored to ensure the opportune recognition of subrogation potential. This more timely review of new claim data allows clients to:
- Recover more missed subrogation dollars faster
- Increase recovery success rates via timelier subrogation recognition
- Enhance policy holder satisfaction through faster deductible reimbursements
The real-time service can be custom-designed to refine your existing subrogation processes or replace existing audits to reduce costs and free up internal resources.