(Brumback Library, Van Wert, Ohio. Image credit: Shutterstock.)
Central Insurance, a Van Wert, Ohio-based provider of auto, homes and businesses insurance in 24 states, hashas expanded its use of Shift Technology (Paris/Boston) to include Shift Subrogation Detection. As a result, Central Insurance can better identify those claims for which a third party may be wholly or partially responsible for paying, according to a vendor statement. The decision follows the insurer’s successful use of Shift Claims Fraud Detection to identify suspicious activity in the claims process over the past three years. Central’s engagement with Shift was announced in Sept. 2020.
Central Insurance is recognized for delivering exceptional hospitality and fulfilling its promise to quickly pay policyholders for covered losses when they occur. The company’s use of Shift’s Claims Fraud Detection solution has proven effective in identifying legitimate versus suspicious claims and settling claims quickly and fairly. By introducing subrogation detection into the claims process, Central Insurance can more effectively spot hidden subrogation opportunities and develop optimal recovery strategies.
“When a policyholder files a claim, they want to be made whole for their loss,” comments Jeff Lieberman, Director of Anti-Fraud and Recovery, Central Insurance. “The intricacy of what goes on behind the scenes is not important to them, but it’s very important to us. Anytime we’re able to efficiently and accurately identify if all or part of a claim is the responsibility of a third party, we ensure our policyholders are paid quickly while creating opportunities to recover that loss for the business.”
Shift Subrogation Detection helps insurers accurately identify subrogation opportunities at scale and recommend claims handler actions that improve recovery outcomes, thus reducing claims leakage while providing a top-tier customer experience, according to the vendor. Shift says it uses artificial intelligence to analyze claims data to provide a holistic view of the claim, including what happened, who was involved, and could other parties be at fault. Alerts provided by the solution include clear guidance on the nature and specifics of the subrogation opportunity, allowing for optimized demands and recovery execution. The ability to eliminate manual review and identification of recovery opportunities empowers handlers to focus their time and effort on opportunities with the highest likelihood of recovery, according to Shift.
Turning to Innovative Solutions
“Not all claims are the responsibility of the policyholder making the claim; however, it’s not always easy to make that determination,” explains Paul Edwards, VP, Claims, Central Insurance. “Doing so has long been a manual and time-consuming process. Central is turning to innovative solutions like Shift Subrogation Detection to better understand what’s happening in the claims process and ensure the parties truly responsible for a loss are held accountable.”