ClaimIQ has introduced a component for its claim software.SubroIQ is intended to provide adjusters and recovery specialistswith information and analysis for identifying subrogationopportunities.

For many insurance companies, the money paid to settle claimstypically is the largest item on the balance sheet, comprisingroughly 60 to 70 percent of net premiums written. According to theNational Association of Subrogation Professionals, many of thesecosts can be recovered from liable third parties throughsubrogation, and automobile carriers are missing about 40 percentof the subrogation opportunities in their book of business.

“By better managing the subrogation process, claim organizationscan be measured not by the resources they consume, but by theprofit they create,” said Tom Baird, ClaimIQ's president and CEO.“SubroIQ gives adjusters and recovery specialists the tools,information and predictive analysis they need to help increase therate of subrogation claim identification and recovery.”