How Special Insurance Provider Relationships Can Help Lower Costs and Speed ​​Up Claim Resolution for Insurance Carriers | JD Supra

The myth that most insurance claims are settled before litigation is true: many carriers don’t want to deal with the time, hassle, and expense of fighting for a settlement in court. Even if only a small number of complaints lead to litigation, this means that a lot of money is spent on outside counsel, storage, and research. Also, due to undisclosed amounts in jury payouts: from 2014 to 2017, jury awards in auto insurance cases. almost doubled (from 27.7 million to 54 million.) It’s safe to assume that almost five years later (and after the global pandemic of COVID-19) the wages paid and costs of litigation are still growing. With known figures like these, it’s up to the insurer to try to settle as many claims – as quickly and efficiently – as possible as it could mean a difference of millions of dollars.

Unfortunately, in order to achieve the desired results, insurance carriers must invest considerable time and effort in reviewing their claims, one by one. But there’s good news: legal services can save you time and money on shipping in a variety of ways that many people overlook. This cost reduction depends on the correct carrier selection criminal defense attorney. By participating in a preferred relationship, insurance carriers can reduce costs in three key areas.

1. Resolve cases quickly (and reduce headaches before they happen.)

An important part of the claims process is obtaining medical records. And they need these records – medical records, phone records, doctor’s records, and medical records – to do their job well. Records not only help them determine what the claimant is asking or saying, but also whether the carrier should resolve the claim, and if so, how to do so.

I’ve heard from providers about their struggles with trying to access medical records themselves, which can eat up a lot of time in requests, phone calls, and chasing lost records or unfulfilled requests. A better bet is to outsource to specialized record recovery specialists who handle hundreds of requests every day. (US Legal Support checks a request for records approximately every twenty seconds!) Delegating a record-keeping agent means that requests are filled quickly, creating time savings and speeding up the resolution of complaints, saving money in the process.

2. Save time (and money) by using fast shipping technology.

Each insurance company has their own system through which adjusters can access the files they need to complete their job. Again, their goal is to get as many claims closed and settled as quickly as possible. And so, instead of insurance companies going to a third-party site, logging in and downloading records, and then putting them into their system, it makes sense to partner with a record-keeping partner that has the ability to upload records directly into the claims system.

By partnering with a nationwide legal service provider, there are significant benefits, namely the growth of the national delivery network and the level of expertise. At US Legal Support, we can send information directly from the portal to our clients’ files. We can do this with documents, and with court records

So, a changer can start their day and look and see, “Oh, I have documents from US Legal Support; I have documents and exhibits that I need.” one.

3. Realize the economic benefits of bundling services.

If insurance carriers are willing to work with a large litigation support provider, there may be an opportunity to reduce costs by combining court reports and reimbursement services. It’s a national pricing program that has great prices and increases, plus it looks like a winner.

But there is an added benefit to building services that many carriers may not realize – data and cybersecurity. By relying on outside consultants or staff to select court reports and file return services, you are trusting hundreds of different companies with the most critical information your company has. Do you know if they all reduce cybersecurity risk? Do you know what security they have? Realizing that multiple agents can take a lot of work. In fact, by working with a company like US Legal Support that provides SOC 2 Type 2 and HIPAA compliance across all data centers and locations, this means carriers can rest easy knowing that their legal support services are stable, cost-effective, and that any confidential information. it is distributed at the highest level of security between us and our employees.