ISO launches Personal Injury Claims Assessment Service
Insurance Services Office (ISO) has launched a Personal Injury Claims Assessment Service (PICAS), which has the capacity to entirely digitize the personal injury claims process.
According to the risk data provider, benefits of the new system include speedier contacts between lawyers and insurers and fairer settlements.
Parties can then process claims using an integrated system that allows fast exchange of information and effective communication.
A pilot study involving with three insurers and two law firms reduced the lifecycle of claims by over 50%, from around 290 days to less than 140 days, according to ISO.
ISO has been working with medico-legal software provider, WARP Technologies, for some time and finally succeeded in integrating its Claims Outcome Advisor system with WARP’s medical reporting software in September of last year.
Read full article here via ISO
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