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Latitude Subrogation Services (Bloomfield Hills, Mich.), a provider of solutions to insurers, self-insured entities, third party administrators and specialty risk companies as a subrogation vendor and purchaser of subrogation assets, has implemented the Gigaforce Platform for subrogation, according to a statement from Gigaforce (Sunnyvale, Calif.), provider of a SaaS-based, blockchain-optimized, claims platform.
In business for 24 years, Latitude is enjoying continued expansion as a premier subrogation servicing company with long-standing clients and new relationships by utilizing state-of-the-art technology along with the best employees in the industry to showcase expertise and maximize results for clients, according to the Gigaforce statement.
“Latitude and Gigaforce have forged a relationship built from the founding of Gigaforce upon mutual trust,” comments Jon Coscia, CEO, Latitude. “Executing upon entrepreneurial ideas and bringing ideas to reality is not for the faint of heart. Over the past two years, from conception to execution, the relationship has grown with the sole focus on driving digital transformation to the overall claims process from FNOL to recovery.”
Since the Gigaforce implementation, Latitude has seen significant increases in speed and security in the real-time data exchange on collection processes, the vendor reports. The two companies expect continuing development of the relationship to benefit Latitude in the areas of API connectors and modules, document redactions, splitting of documents leveraging AI technologies, bot technologies, and payment gateway solution options.
Reducing the Hazards of the Traditional Subrogation Process
“Reducing the hazards of the traditional subrogation process is our primary concern,” said Sanjeev Chaudhry, CEO of Gigaforce. “We have enjoyed our relationship with Latitude, collaboratively solving challenges and actively working to ensure that their subrogation processes are fast, secure and streamlined. We are looking forward to a long-term relationship where we can offer more opportunity for Latitude to excel.”
Gigaforce describes its platform as rapidly improving business efficiency and assuring the integrity of protected health information (PHI) and personally-identifiable information (PII). Using blockchain, Gigaforce says it delivering a next-generation subrogation solution which unifies claims movement across multiple core and homegrown systems with result-driven analytics and dashboards which provide the 360-degree visibility necessary across organizations for quick recoveries and collections.