LONDON, Dec. 7, 2004 — Insurance Services Office (ISO) Ltd., the U.K.'s leading provider of personal injury claims and antifraud insurance services and solutions, has enhanced its ISO Claims Outcome AdvisorTM (COATM) personal injury claims management solution with an automatic electronic link to the Compensation Recovery Unit (CRU). The new capability replaces the traditional paper-based CRU1 document with an e-document. The CRU1 e-link comes as a standard module within the COA software suite.
ISO's new CRU1 e-document speeds up the claims handling process and eliminates error-prone rekeying. It is a legal requirement for insurance companies to notify the CRU when a claimant has been injured or has incurred loss of earnings resulting from a road traffic accident. This enables the CRU to recover benefits paid to the claimant and the costs of treatment from insurers on behalf of NHS Trusts. Processing the information and handling paperwork for notifying the CRU has become a growing burden on insurers. The sooner and more accurately the notification is carried out, the faster the whole claims process becomes. Rubicon and Highway are two insurance organizations in the U.K. that have already rolled out this electronic function and now benefit from a CRU electronic response, typically within 24 to 48 hours.
"Claims cannot be settled until the administrative processes have been completed with the CRU. By automating the CRU1 stage, the process of notifying the CRU is activated immediately, which saves insurance companies and claims handlers from entering data and filling out forms and speeds up the entire claims-handling life cycle. This has to be good news for insurance companies, claimants, the government and NHS Trusts," said Joe Pendle, ISO's director of client services.
"The CRU1 e-document link is merely the first stage in the automation process. Many other documents are involved, and ISO is looking to automate other parts of the process. By implementing an automated electronic CRU1 solution now, insurers can streamline their administrative processes by reducing the time spent on paper-based notification procedures," added Joe Pendle.
About the Compensation Recovery Unit (a part of the Department of Work and Pensions)
The Compensation Recovery Unit (CRU) was formed in 1990 and operates from Washington, Tyne and Wear. From April 1999, CRU took responsibility from NHS Trusts to recover hospital costs for the treatment of victims involved in road accidents and has claimed approximately Â£204 million on behalf of NHS Trusts to date. The CRU calculates the cost of treatment based upon a current daily rate of Â£582 with admission, which is capped up to Â£34,800 per person.
About ISO Claims Outcome AdvisorTM (COATM)
ISO Claims Outcome AdvisorTM (COATM) is the industry's first personal injury claims management solution that manages the multiple dimensions of organizations' personal injury claims portfolios. COA understands the severity and recovery implications of over 18,000 injuries, treatments, complications and preexisting conditions and 14,000 occupations. COA helps claims handlers, managers and actuaries manage the unique and complex medical, legal and occupational issues presented by personal injury claims and helps ensure appropriate financial arrangements are agreed to and implemented. Claims handlers can manage all aspects of a case from first notice of loss to return-to-work plans, rehabilitation and damages.
Insurance Services Office (ISO) Ltd. is a wholly owned subsidiary of Insurance Services Office, Inc., a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. Around the world, ISO's services help customers protect people, property and financial assets. ISO's customers in the U.K. include Admiral Group, AXA Insurance, Chaucer Insurance, Highway Insurance, Lloyd's, Rubicon Corporation and Zurich Financial Services.
Mark Strang (ISO U.K.)