Why You Should Pursue Subrogation
The most lucrative opportunities are often hidden in plain sight, and that is true of subrogation.
Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party claims opens the door to effective subrogation, which leads to two major benefits serving both the short-term and long-term needs of insurers.
First, an improvement in the bottom line is guaranteed to occur down the road, since there are no costs or resource-consuming processes to begin or sustain a subrogation claim. With companies dedicated to the process, it enables insurers to focus their resources elsewhere while generating additional gains.
Second, successful claims promote the long-term health of insurers and policyholders alike, since the money claimed through subrogation lowers premium rates for subsequent years.
Lower premium rates for policyholders are likely to attract new clients, setting up tremendous potential for continuous growth in the subrogation department.