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April 26, 2009

CCC releases single-point approach for insurance agencies

Vendor management provides streamlined communications and efficient exchange of information

By CBR Staff Writer

CCC Information Services, a provider of computer software and services that help insurance agencies, has released CCC Subrogate Solution, an automated single-point approach to help carriers improve cycle time and reduce losses by closing out a component of the claims recovery process.

The company said that 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 performance; and, leveraging claims folders.

Debbie Day, senior vice president of marketing and product management at CCC Information Services, said: In today’s economic climate carriers are rigorously vetting technology investments to ensure there is a substantial return on investment. 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.

 

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