As one of the largest providers of subrogation services in the United States, SecondLook reviews a substantial volume of claims each year. In reviewing a statistically valid sampling of claims for a Top 5 insurer, the impact that SecondLook had on their loss ratio was impressive. Prior to utilizing the SecondLook program, this client was recovering 4% on PIP subro claims that were being handled in house. SecondLook took over this process, and within one calendar year was able to improve the recovery rate on PIP subro to 8%. The results were astounding!
As the graphic below demonstrates, a 2% to 3.2% improvement in loss ratios are significant for any carrier. While we started with PIP for this particular client, the results, and the net neutral impact to the expense ratio, have allowed our organization to handle other lines of coverage with even better proportions of improvement.
Whether you fully utilize our services, having our experts augment your subrogation organization, or taking advantage of our 600 years of collective experience, I’m confident we can help find missed subrogation for your company. Let us look at your closed claims at no cost to you unless we recover. Our proprietary ID algorithm and a vast amount of claims experience that allow for identifying a significant number of files that often go uncollected we can improve your loss ratios too.
Maryann@2ndlook.netContact me for more information. Maryann Vitkievicz