The State of Third Party Auto: Claim Costs, Consistency and a New Generation of Adjusters

—October 12 2016

WhitePaperCapstone

By Norman Tyrrell, Director of Product Management, Casualty Solutions Group

Breaking Down the Three Biggest Industry Challenges

The cost of third party auto claims is rising quickly, and many insurance carriers are struggling to keep up. As the number of attorney-represented claims grows, adjusters are getting more and more demand packages, which are often disorganized or incomplete, though they require a timely response. Without the correct tools, these complex demand packages often result in lost opportunities or inconsistencies, which can expose insurers to lawsuits. Because there are so many different variables when handling represented third party claims, things can quickly get complicated for adjusters. Often, those complications and problems lead to unnecessary spending. In a competitive auto casualty market, an insurance company can’t afford to leave these costly problems unaddressed.


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