Arbitration Forums, Inc. (AF), non-profit developers of the electronic subrogation system E-Subro hub, announce the final link in a nationwide electronic subrogation network is now complete. The final six states have joined the system, which AF makes available to participants at no cost.
The company reports the traditional, paper-driven subrogation system has been replaced with a streamlined electronic, paperless, document management and communication tool that will provide significant operational savings to the insurance industry.
AF reports E-Subro Hub will handle more than 500,000 demands valued in the billions of dollars in 2011. AF is the nation’s largest provider of inter-insurance dispute resolution services. E-Subro Hub enables users to electronically send and receive subrogation demands, attach supporting documents, manage subrogation claims, and electronically file intercompany arbitration where necessary.
“The traditional subrogation system was ready to take a revolutionary step to transform its processes, and the completion of a nationwide E-Subro Hub is the fulfillment of that objective,” says W. Russ Smith, president and CEO of AF.
He reported that in 2010 nearly 115,000 subrogation demands valued at nearly $206 million were resolved by E-Subro Hub while operating in only 23 states.
E-Subro Hub also enables insurers to return deductibles to their policyholders faster, which reflects positively on customer service, he said.
“Already, E-Subro Hub has vividly demonstrated to participating carriers and self-insureds that the electronic system can manage their subrogation workflow more effectively, reduce subrogation-related expenses and lower cycle times,” Smith says.
He said plans for E-Subro Hub include the addition of data integration, subro-netting, electronic payment and electronic adjusting services for users.
Founded by the insurance industry in 1943, AF is a membership-driven organization that exists to effectively and efficiently serve its over 4,400 members’ recovery and resolution needs.
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