New CCC Subrogate™ Solution Automates Key Final Steps of Claims Recovery Process
Automated Subrogation Solutions May Reduce Claim Time by 25%
Chicago - April 23, 2009 - CCC Information Services Inc. today announced the release of CCC Subrogate™ Solution, an automated single-point approach to help carriers improve cycle time and reduce losses by closing out a key component of the claims recovery process.
“In today’s economic climate carriers are rigorously vetting technology investments to ensure there is a substantial return on investment,” said CCC Senior Vice President of Marketing and Product Management, Debbie Day. “Subrogation claims represent large transaction volumes and have a significant impact on both loss costs and loss adjustment expense. This is an area for carriers to reduce costs, improve recoveries and provide a high return on investment.”
According to the National Association of Subrogation Professionals, carriers using an automated subrogation process recover an average of $60 more per file than those without. In addition, carriers with an automated solution average a 25 percent improvement on the time it takes to resolve a claim.
The CCC Subrogate Solution provides carriers with a single-point approach to drive insight, efficiency and automation into the process by:
- creating electronic claims files that help reduce the potential for error and reliance of a paper exchange;
- making decisions based on a set of objective processes, not subjective analysis;
- providing oversight into a carrier’s subrogation operation, opening up the opportunity to improve their best practices and performance; and,
- seamlessly leveraging claims folders.
“Our subrogation offering utilizes our proven web platform. For example, of the millions of claim folders residing on the CCC network, those having an associated subrogation demand can have other claim information automatically transferred over to the CCC Subrogate Solution,” added Day. “We now provide, in one place, a clear view of the entire claims cycle from first notice of loss to the close of the claim and provide a recovery process that is focused on a carrier’s ability to deliver real results.”
For additional information on the CCC Subrogate Solution and to download the CCC Insight white paper, Growing in the Shade, on the challenges of subrogation, visit www.ccc.cccis.com/subrogate.
About CCC Information Services Inc.
CCC brings together what matters most - insights to make the best decisions, connections into the largest auto claims network and superior productivity through an innovative single platform. Founded in 1980, CCC is the nation’s leading provider of advanced software, workflow tools and enabling technologies to the automotive claims and collision repair industries. Its client base includes more than 350 insurance companies and over 20,000 repair facilities. CCC also delivers the most comprehensive, best in class industry insight by leveraging data captured from the millions of transactions processed through its network, and the forward-looking, trusted advisor perspective of its people. You can find out more about CCC Information Services Inc. by visiting the company’s web site at www.cccis.com.
Media Contacts:
CCC Information Services Inc.
John Harris, External Communications
312-229-2693