Property & casualty and health insurers overpay injured people an estimated $15 billion a year because each sector of the industry lacks information about claimants that only the other side has, according to Stephen Ambrose, CEO of ICEX, an insurance information-services company.

To plug that gap, ICEX has developed ClaimCatcher, a cross-claims data exchange designed to reduce overpayments for medical and injury claims.

"For the first time, P/C insurers will be able to tap into an injured claimant's medical claims history from health insurers to verify preexisting injuries related to the current claim," says Ambrose.

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