CCC releases subrogation solutions product to reduce claim time

CHICAGO - CCC Information Services Inc. has announced the release of CCC Subrogate Solution, an automated single-point approach designed to help carriers improve cycle time and reduce losses by closing out a key component of the claims recovery process.

"In today's economic climate carriers are rigorously vetting technology investments to ensure there is a substantial return on investment," said CCC Debbie Day, senior vice president of marketing and product management. "Subrogation claims represent large transaction volumes and have a significant impact on both loss costs and loss adjustment expense. This is an area for carriers to reduce costs, improve recoveries and provide a high return on investment."

The CCC Subrogate Solution provides carriers with a single-point approach to help drive efficiency and automation into the process by:

* creating electronic claims files that can help reduce the potential for error and reliance of a paper exchange;

* making decisions based on a set of objective processes, instead of subjective analysis and

* providing oversight into a carrier's subrogation operation, opening up the opportunity to improve their best practices and performance.

“Providing transparency into CCC’s decisions will strengthen our solutions, and will benefit the industry,” said CCC’s Automotive Services Group General Manager, Jim Dickens. “This panel will represent an industry voice prior to moving forward with any changes that go into production. Collision repair technology is emerging at such a fast pace that it’s critical to quickly tap a collaborative process that helps our customers write estimates that reflect a quality repair in accordance with MOTOR Guide to Estimating.”

According to the National Association of Subrogation Professionals, carriers, using an automated subrogation process recovers an average of $60 more per file than those without. In addition, carriers with an automated solution average a 25 percent improvement on the time it takes to resolve a claim.

For additional information on the CCC Subrogate Solution and to download the CCC Insight white paper, Growing in the Shade, on the challenges of subrogation, visit www.ccc.cccis.com/subrogate.