The Kemper Insurance Companies has become the first company to license HNC Insurance Solutions’ new VeriComp Subro software system, which automatically identifies and notifies carriers of claims with a high potential for subrogration – claims that should actually be paid by another party.
VeriComp Subro analyzes an insurance company’s claims database. It then identifies and automatically refers claims that have the potential to be subrogated to an insurance company’s claims analysts for further review.
“The insurance industry is at the cusp of a transformation that will occur through new technology and the Internet,” said James Bisker, senior research analyst, The Tower Group. “Products like VeriComp Subro are the next generation in the application of artificial intelligence in the insurance space. Through the use of artificial intelligence for improved decision-making, companies like HNC Software are raising the bar for the entire industry.”
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