Case Studies

Case Studies - Subrosource

Case Study One
Through the implementation of Subrosource, one of the nation's largest Personal Lines Property & Casualty insurance companies was able to maximize loss recovery efforts, while lowering costs and improving staff productivity.

Problem:
One of the nation's largest Personal Lines Property & Casualty insurance companies was had begun implementation of a claims initiative that incorporated an upgrade of their base claims handling functionality. Also included in this initiative was a focus on improving overall subrogation recoveries with new and more sophisticated automation tools.

The company was experiencing a declining claim volume; staff production concerns; and was generating recoveries to paid ratios of 13%. At this same time, the company's subrogation function had undergone a consolidation from multiple local claims offices to a more centralized approach incorporating six offices across the country. The company's goal was to improve efficiencies and ultimately increase overall recoveries.

Solution:
Subrosource was installed in six national locations for the insurance carrier and utilized by an estimated 400 subrogation professionals. With Subrosource, the carrier was able to:

Combine multiple subrogation systems
Maximize on their Uninsured motorist recoveries by referring them to Trumbull's recovery vendor partner
Gain Data Management expertise to feed recovery results and help show where weaknesses resided

Results:
Within a year of utilizing Subrosource, the insurance group increased its business performance by the following statistics:

Recoveries to paid ratios increased to 15.1%
Overall recoveries improved by $10M, despite decrease of claim volume by 8%
Significant improvement in collision collection ratio
Staff savings exceeded expectations
Overcame company obstacles in order to implement Subrosource
Subrosource processes 1,500 new claims on a nightly basis
New functionality was developed as a result of client's need - this in turn will help Trumbull in future client agreements

Sound Bites:

"We were surprised how quickly productivity savings were achieved." - Vice President of Insurance Carrier
"I did not understand the value of the system until I discovered I could produce 20 demands in one day." - Subrogation Professional

Case Study Two
Through the implementation of Subrosource, one of the largest Personal & Commercial Lines Insurance carriers was able to significantly improve recoveries and claim handling volume.

Problem:
This insurance carrier was experiencing recoveries to paid ratios at 7% and a volume of recoveries at $55M. They were handling approximately 60,000 claims per year.

Solution:
Subrosource was installed in three national locations and was utilized by 100 subrogation professionals. With Subrosource, the insurance carrier was able to:

Combine multiple claim systems
Maximize on their Uninsured Motorist recoveries by referring them to Trumbull's recovery vendor partner
Trumbull developed all reporting and analysis for client - helping them to achieve strategic value

Results:
In three years of utilizing Subrosource, the insurance group increased its business performance by the following statistics:

Recoveries improved from $55M to $130M
Recoveries to paid ratios increased from 7% to 17.6%
Production improved by 30%
Staff savings exceeded expectations



	Case Studies - Subrosource Case Study One Through the implementation of Subrosource, one of the nation's largest Personal Lines Property & Casualty insurance companies was able to maximize loss recovery efforts, while lowering costs and improving staff productivity. Problem: One of the nation's largest Personal Lines Property & Casualty insurance companies was had begun implementation of a claims initiative that incorporated an upgrade of their base claims handling functionality. Also included in this initiative was a focus on improving overall subrogation recoveries with new and more sophisticated automation tools. The company was experiencing a declining claim volume; staff production concerns; and was generating recoveries to paid ratios of 13%. At this same time, the company's subrogation function had undergone a consolidation from multiple local claims offices to a more centralized approach incorporating six offices across the country. The company's goal was to improve efficiencies and ultimately increase overall recoveries. Solution: Subrosource was installed in six national locations for the insurance carrier and utilized by an estimated 400 subrogation professionals. With Subrosource, the carrier was able to: Combine multiple subrogation systems Maximize on their Uninsured motorist recoveries by referring them to Trumbull's recovery vendor partner Gain Data Management expertise to feed recovery results and help show where weaknesses resided Results: Within a year of utilizing Subrosource, the insurance group increased its business performance by the following statistics: Recoveries to paid ratios increased to 15.1% Overall recoveries improved by $10M, despite decrease of claim volume by 8% Significant improvement in collision collection ratio Staff savings exceeded expectations Overcame company obstacles in order to implement Subrosource Subrosource processes 1,500 new claims on a nightly basis New functionality was developed as a result of client's need - this in turn will help Trumbull in future client agreements Sound Bites: "We were surprised how quickly productivity savings were achieved." - Vice President of Insurance Carrier "I did not understand the value of the system until I discovered I could produce 20 demands in one day." - Subrogation Professional Case Study Two Through the implementation of Subrosource, one of the largest Personal & Commercial Lines Insurance carriers was able to significantly improve recoveries and claim handling volume. Problem: This insurance carrier was experiencing recoveries to paid ratios at 7% and a volume of recoveries at $55M. They were handling approximately 60,000 claims per year. Solution: Subrosource was installed in three national locations and was utilized by 100 subrogation professionals. With Subrosource, the insurance carrier was able to: Combine multiple claim systems Maximize on their Uninsured Motorist recoveries by referring them to Trumbull's recovery vendor partner Trumbull developed all reporting and analysis for client - helping them to achieve strategic value Results: In three years of utilizing Subrosource, the insurance group increased its business performance by the following statistics: Recoveries improved from $55M to $130M Recoveries to paid ratios increased from 7% to 17.6% Production improved by 30% Staff savings exceeded expectations
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