11:24 AM
Free E-Subro Hub Expands to Eight New States
E-Subro Hub, a free, paperless, Web-based electronic communication, document and claim management system launched in 2006 that streamlines the subrogation process will expand to eight new states in August, including two of the largest states in the subrogation market, New York and Texas, according to a news release from Arbitration Forums (AF, Tampa, Fla.).
Developed by AF, a membership-driven, non-profit organization, E-Subro Hub allows participants in the subrogation process to more efficiently process their subrogation demands and responses and provides performance data, according to the AF news release.
In addition to New York and Texas, the product will be available in Connecticut, Maine, New Hampshire, New Jersey, Rhode Island and Vermont. By the end of 2010, the E-Subro Hub will be available in more than 20 states.
E-Subro Hub currently operates in California, Delaware, Massachusetts, Maryland, North Carolina, Pennsylvania, Virginia, West Virginia and the District of Columbia, and seven of the nation’s ten largest insurance carriers currently are utilizing the system, according to AF. Users of E-Subro Hub are reporting that cases are frequently closed within days as opposed to weeks or months as in the past, AF claims.
The non-profit organization reports that insurers are able to return deductibles to their policyholders faster, which reflected positively on customer service. AF asserts that one company reported a case was settled in two minutes and thirty seconds and received its payment within two days.
“The expansion of E-Subro Hub represents a significant increase in the market dissemination of this cutting-edge subrogation solution,” comments W. Russ Smith, President and CEO, AF. “E-Subro Hub lets carriers and self-insureds manage their subrogation workflow more effectively, reducing subrogation-related expenses and thereby lowering cycle times.”
AF also will introduce a new enhancement to the system on August 2, allowing users to quickly identify if the company receiving its subrogation demand is participating in the E-Subro Hub system and is active in that particular state, further saving time and resources, according to the organization.
AF projects that the E-Subro Hub system rollout will save property/casualty insurance companies and self-insureds hundreds of millions of dollars annually by enabling users to electronically send and receive subrogation claims, attach supporting documents, manage subrogation claims and electronically file inter-company arbitration where necessary.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio