UM files are high transaction and low yield, posing a unique challenge for insurance carriers. Using existing resources to address UM files has an adverse impact on an adjuster’s ability to focus on high-yield transactions. Additionally, there is an entire vendor management component of this process that takes away from more important aspects of the recovery process.
Our UM Clearinghouse solution provides an analytics-driven approach to identify claims that are more challenging to collect. EXL manages a network of recovery vendors and collection agencies that can effectively impact these low-yield claims. This frees up your adjusters to focus on claims with higher probabilities and yields. We provide advanced analytics to identify opportunities and decision support tools, with embedded analytics increasing yield per file.
We focus on cultivating net recovery improvements for clients. As of Q1 2019, those improvements generated more than $500M in value.
Read more in the solution sheet…