Frequently Asked Questions
about Subrogation & Claims
Do you handle all lines of claims?
Yes, we handle all lines, including auto, property, inland marine, workers’ compensation, GL, product, cargo, medical and more.
Do carriers really miss 15% of subrogation opportunities?
Yes, this has been validated by multiple sources, and our closed file audits would support this, as well.
What are the most frequent types of missed subrogation opportunities?
There are a wide variety of claims missed. Perhaps the most frequent cause of missed subrogation is the improper assessment of comparative negligence. In fact, comparative negligence is assigned in claims at a much lower rate than it is assessed by juries! Other common causes of missed subrogation can be the result of missed loss transfers, GVW issues in PIP states, cargo claims, and product liability. Our team, with over 600 years of combined experience, is highly trained to identify and collect on these claims.
We already handle subrogation internally, how can SecondLook help us?
Many carriers handle subrogation internally and often do a very good job. First, the issue often isn’t related to the subrogation department but rather front-line adjusters who are very busy and can potentially miss recovery opportunities. Our FREE closed file audits identify these files which result in higher subrogation returns for your organization.
Do you provide overflow services for subrogation?
Absolutely. We can provide long or short-term overflow services. We also have a number of clients who utilize us for their arbitration needs.
Do you handle UM claims?
Yes, we have an entire department dedicated to UM and our results typically outperform the industry.
We already have a vendor providing closed file reviews, does that matter?
We have gone in behind other vendors, and even multiple vendors, and have always found money that was left on the table. Our closed file reviews cost nothing, so it is a win/win!
If SecondLook finds missed subrogation could it reflect poorly on existing processes?
Absolutely not. Even the best processes aren’t perfect. Our goal is to provide you with insights to improve your process while providing your organization with money that may have been missed. By optimizing your processes your organization will gain a competitive advantage.
How much money do you typically find in a closed file review?
That figure could be anything from a few thousand dollars to a few million dollars. In an audit for a leading global insurer, we identified and recovered over $5 million dollars. In a review for a Top 10 auto insurer, we went in as a third look and still found them over $2 million dollars. Regardless of the number of files you send to us or the number of times they have been reviewed, our unique Chameleon methodology will find additional money.
Do you handle high deductible clients?
Yes, we handle many self-insureds with high retentions. In fact, that is one of our specialties.
What are you doing to manage work comp credits?
We handle a lot of workers’ compensation claims. In many of those claims, we are aware of third-party litigation. It is critical that we work with the adjuster to ensure that they aren’t rushing payment prematurely to simply close out a file. We understand the need to monitor and manage those claims and the credits to ensure that they are available to be used at a future date.
What is the typical experience level of your staff?
We have over 600 years of collective claims experience. Some of our claims leaders have been in the business for 30 plus years, in sizeable roles with some of the largest and most influential insurers in the nation. For our more complex claims, our staff typically has 15-20+ years of boots-on-the-ground claims experience. For our less tenured staff, which handle less complicated claims, there is a minimum of 5-10 years of experience.
What is Chameleon technology?
Chameleon is a unique, proprietary methodology that combines predictive models, algorithms, AI, and machine learning with our 600 plus years of combined claims expertise. Far too many companies are over-relying on technology alone. Our focus is on blending people, processes, and technology which is how we deliver superior outcomes.