Why claim managers value adjusters who apply analytical thinking

By Michael Rivers  |  June 8, 2015

When it comes to liability claims, managers want fast, fair, and consistent resolutions that keep loss costs under control. The pressure is on adjusters to reduce cycle times, ensure that settlements are in line with historical precedents, and find subrogation opportunities — tall orders that go beyond basic claim-handling skills. With so much at stake, managers look to their adjusters to foster an analytical mindset to accomplish those simultaneous goals.

But today’s adjusters have an advantage: leading-edge technology solutions that blend analytics and value-based educational tools. Those solutions can free up time spent on manual tasks, so adjusters can focus on the high-level challenges of improving the liability claim process. The best news is that the tools are available to assist adjusters in tackling numerous tasks throughout the life of a claim.

Liability Navigator is designed to deliver vital data intelligence to support adjuster insight at key points in the claim life cycle. The tool supports adjusters’ ability to make better decisions efficiently while ensuring fair settlements and increased customer retention.

With better insight into claims from first notice of loss (FNOL) to disposition, adjusters will be armed with predictive data to handle claims. Liability Navigator improves adjuster analytical skills because it provides valuable information at every step in the life of a claim. The tool assists adjusters as they:

  • gather intelligence to fast-track claims
  • identify additional liable parties and assess risk
  • assess risk based on settlement history and medical information
  • aid in preparing negotiation reports
  • attain higher subrogation recoveries
  • prepare for audits
  • ensure consistency in claim settlements

Michael Rivers

Michael Rivers is manager for Claims Consulting and Analytics for ISO Claims Services. He manages the statistical analysis group, which is responsible for data mining and data analysis of millions of data elements from the property/casualty insurance industry. Mike can be reached at mrivers@iso.com or 803-422-9169.