Insurance Adjusters

This article will discuss the role insurance adjusters play in the claims process, and their use of case evaluations software systems such as Colossus. For a more detailed explanation, contact the Lancelot Law Firm for a free case evaluation.

Practical Law

Dealing with insurance companies can be a daunting task. In personal injury cases, insurance adjusters are professionals who play a pivotal role in assessing claims, determining liability, and negotiating settlements. Understanding their role empowers individuals to navigate the claims process more effectively.

Who Are Personal Injury Insurance Adjusters?

Personal injury insurance adjusters are agents of insurance companies whose task is to evaluate claims related to bodily injury or property damage due to physical accidents. Their responsibility is to investigate the circumstances surrounding an incident, determine the extent of damages, and negotiate settlements with claimants or their attorneys.

What Are the Responsibilities of Insurance Adjusters

Investigation: Upon receiving a claim, insurance adjusters conduct investigations to collect relevant information. This usually involves reviewing medical records, police reports, witness statements, and other relevant evidence to ascertain the facts of the case.
Evaluation: According to the evidence, adjusters assess the extent of damages and determine the insurance company’s liability. They consider factors such as the severity of harm, medical bills and expenses, property damage, lost wages, and pain and suffering when evaluating claims.
Negotiation: Adjusters are negotiators who attempt to reach a low price settlement. They engage in discussions with claimants or their legal representatives to resolve claims efficiently and cheaply while minimizing costs for the insurance company.
Communication: Throughout the claims process, adjusters serve as the primary point of contact between the insurance company and the attorney. They communicate updates, requests for additional information, and settlement offers, facilitating a dialogue aimed at resolving the claim. Their goal is to avoid litigation, which they cannot do if you hire an aggressive attorney who takes your case to court.

Understanding Their Motivations

It’s important for individuals to understand that insurance adjusters are employed by insurance companies and have a fiduciary duty to protect their financial interests. While adjusters are hired and trained to be partial to their company with their primary goal is to mitigate financial losses for their employer. As such, they may employ various tactics to minimize the value of a claim or deny liability altogether.

Tips for Dealing with Insurance Adjusters

Know Your Rights: Claimants should understand their rights under the terms of their insurance policy, and relevant laws governing personal injury claims. This knowledge will empower them to advocate for fair treatment and ensure that their rights are protected.
Document Everything: Keeping detailed records of the accident, injuries, medical treatment, and related expenses is crucial. This documentation serves as evidence to support the validity of the claim and can strengthen negotiations with the insurance adjuster.
Seek Legal Counsel: In complex cases or instances where liability is disputed, seeking guidance from a qualified personal injury attorney can be invaluable. An experienced attorney can provide legal advice, negotiate with the insurance company on the claimant’s behalf, and advocate for fair compensation.
Be Cautious with Statements: Claimants should exercise caution when making statements to adjusters. While cooperation is necessary, they should refrain from admitting fault or making statements that could be misconstrued and used against them in the claims process or in later litigation.

Effective Communication

Personal injury insurance adjusters play a significant role in the claims process, acting as intermediaries between claimants and insurance companies.

Understanding their responsibilities, motivations, and strategies can help individuals navigate the complexities of the claims process more effectively.

Stay informed, proactive, and vigilant, claimants can work towards achieving fair and just outcomes for their personal injury claims.

Utilizing an experienced legal team to advocate with adjusters on your behalf.

The Lancelot Law Firm is Your Legal Team

We will fight for you. Call or email us today.

Email Address

al@lancelotlawfirm.com

Phone Number

(714) 813 7246

Colossus: How Insurance Companies Evaluate Claims

In the world of insurance claims, technology plays an increasingly substantial role in streamlining processes and assessing the value of settlements. One such technology is Colossus, a software program used by many companies to assist in the evaluation of personal injury claims. While Colossus and other such programs offers benefits in terms of efficiency and consistency, it’s essential for claimants to understand how it works and its realistic implications for their claims.

Understanding Colossus:

Colossus is a proprietary computer software program developed by Computer Sciences Corporation, now part of DXC Technology, specifically designed for insurance claims consideration. It utilizes algorithms and databases to analyze various factors related to a claim, such as the nature and severity of injuries, medical treatment received, duration of recovery, and other relevant variables.

How Colossus Functions:

Data Input: Insurance adjusters input information about the claim into the Colossus system. This includes details about the accident, injuries sustained, medical treatment received, damages and other pertinent information.
Analysis: Colossus processes the data using its algorithms to assess the value of the claim. It considers various factors and benchmarks against historical data and industry standards to generate a recommended settlement range.
Review: The recommended settlement range provided by Colossus serves as a guide for insurance adjusters in their evaluation of the claim. Adjusters may take other factors into account, such as policy limits, liability issues, and the specific circumstances of the accident, when making their final determination.

Benefits of Colossus:

Efficiency: Colossus streamlines the claims evaluation process, allowing adjusters to quickly assess the value of claims based on standardized criteria.
Consistency: By using predefined algorithms and benchmarks, Colossus helps ensure consistency in claims evaluation across different adjusters and regions within an insurance company.
Data-driven Analysis: Colossus relies on data and historical trends to generate recommended settlement ranges, providing a systematic approach to claims evaluation.

Potential Drawbacks:

Lack of Transparency: The algorithms and criteria used by Colossus are proprietary, meaning they are not transparent to claimants or their representatives. This lack of transparency can sometimes lead to disputes over settlement offers.
Potential for Undervaluing Claims: Critics argue that Colossus may lead to undervaluing claims or overlooking important factors that could affect the settlement amount, particularly in complex cases.

What Claimants Should Know:

While Colossus can provide insights and efficiency in processing claims, it’s essential for claimants to be aware of its role in the claims evaluation process. Claimants should:

Provide detailed and accurate records of their injuries about their claim to insurance adjusters.
Understand that Colossus is just one tool used by adjusters and that other factors may influence the final settlement offer.
Consider seeking guidance from a qualified personal injury attorney, especially in complex cases or instances where liability is disputed.

Overall, Colossus is a powerful tool used by insurance companies to aid in the evaluation of personal injury claims. Although it offers benefits in terms of efficiency and consistency, claimants should approach the claims process with awareness and understanding of how Colossus works and its possible implications for their lawsuits.

Lancelot Law