Settlement Intelligence has completed several professional videos recently that cover our company history, what we do, and provide tips to lawyers who are interested in providing the best outcomes for their clients.
In this video we discuss the background of bodily injury claim software in auto insurance claims and how it continues to impact nearly every auto and premises liability claim filed today in the United States as well as in several other countries. These programs are also used in some workers compensation cases and truck crash claims.
Historically, there have been three different programs that insurance companies use to evaluate auto and premises liability claims. The earliest one, and the one that was most broadly used for a long time was Colossus. That program initially used in Australia in the late 1980s, and introduced in the US market by USF&G in 1992. Colossus became more widely adopted in 1995 when implemented at Allstate as part of its now infamous claim process overhaul. Once other insurers saw the huge profits generated by Allstate, approximately 60% of the auto insurance companies adopted it. A few years later, the same programmers created a second program in 1996, that has gone by many names including Claim Outcome Advisor, or what is now named Liability Navigator or "L nav." Shortly after that a competing product was released named InjuryIQ, and is today known as ClaimIQ, which is a slightly different type of program. Our founders have over 20 years of experience researching these software programs (from non-protected programming notes, claim manuals, depositions, and decades of interviews with claim adjusters and claim supervisors) as well as decades of writing demand letters using a proprietary demand letter format created to trigger this insurance claim software to obtain maximum settlement offers.
Settlement intelligences' technology (through the Professional, Enterprise and Unlimited licenses) allows you to choose the insurer and specify exactly what claim system is being used. And so for the insurer that you choose, Settlement Intelligence creates a specific workflow and demand letter format that's going to maximize the outcome for that specific insurer's claim software.
As an example, even within the same claim, you could have a third-party claim with GEICO and you could have your Uninsured or Underinsured Motorist claim with Allstate, and the information collected and the demand letter format are going to be different because each is optimized for the software used and the fact that one type of claim is first-party versus third party. This allows us to maximize settlement value for each insurer and each type of claim.
Settlement Intelligence regularly releases free updates to our platform to improve the outcomes of case settlement offers for our customers.