Tampa, Fla.-based Arbitration Forums Inc. announced today that W. Russ Smith, formerly vice president, claims for USAA, will become president and chief executive officer on March 3, succeeding D. Kay Smith.
Ms. Smith, who is retiring, has served for eleven years as president of what is now the largest arbitration service organization in the country. The company says it resolves more than 470,000 inter-insurance company disputes annually, with a claim value of over $2.2 billion.
Russ Smith, no relation, said in a statement that he would build on AF's application of technology to streamline arbitration and subrogation processes and reduce insurer expenses and cycle times.
The firm's most recent innovation, E-Subro Hub, expanded AF's offerings beyond traditional arbitration services by providing members with a single Web-based platform from which they can interactively issue and respond to subrogation demands, manage electronic demand packages as well as file and respond to arbitration cases.
Mr. Smith said, "Serving as an electronic clearinghouse, the E-Subro Hub will significantly speed up the subrogation process and reduce costs to insurers, self-insureds, third-party administrators and claims service organizations."
Mr. Smith is a veteran insurance professional who began his career in 1976 as a claims adjuster with Amica Mutual Insurance Company. He joined San Antonio, Texas-based USAA in 1987 and held senior positions in staff and operations. As vice president, claims, he was responsible for policy and procedures for all claim functions at USAA.
AF noted that Mr. Smith has served on numerous insurance industry committees, including with the American Insurance Association and the Florida Claims Manager Association.
AF reports a membership of more than 4,000 insurers and self-insureds nationwide.
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