via: Insurance Business; by: Jordan Lynn
Law firm Hall & Wilcox has teamed up with a leading technology firm Neota Logic to offer a new web app designed to make it faster and easier for workers compensation insurance providers to pursue recoveries.
The application, currently available for use for Victorian and New South Wales claims, can be used by brokers, insurers and self-insurers and will help identify recoveries quicker than current processes.
Vanessa Porter, senior associate at Hall & Wilcox, said that the new tool was designed with clients in mind and is quick and easy to use.
“Our clients’ business requirements were at the forefront of our minds when developing the recovery app,” Porter said.
“We were conscious to ensure that our technology could provide a solution that was not only commercially viable but also user friendly. In other words, we knew our solution had to be easy to operate, quick and cost effective.”
The app will see users log onto a secure webpage and respond to a series of questions before being provided with a report that details whether a claim has recovery potential in less than one minute as the application will help meet regulatory standards.
“The use of the application serves to increase the identification of claims with recovery potential across an insurer’s entire portfolio and also assists insurance providers to meet strict KPI’s imposed by the regulator,” Krisha Bennett, recovery specialist for Hall & Wilcox’s insurance team, said.
Bennett noted that the app will help fill a “void in the market” and praised the relationship with Neota Logic.
“We identified that there was a void in the market in terms of the way insurance providers approached the identification and processing of recovery claims and thought there had to be a smarter way,” Bennett said.
“The team at Neota Logic were fantastic and we are confident that we have successfully combined legal expertise with user friendly technology.”
Hall & Wilcox chief operating officer, Sumith Perera, said that the launch of the app shows the forward-thinking culture instilled at the law firm and the business will look to roll-out other innovative solutions in the future.
“We embrace technology, new ways of approaching legal issues and process improvements that deliver real value for our clients,” Perera said.
“The great thing about the recovery application is that it is capable of being adapted for a number of different insurance lines such as property and motor, and for any jurisdiction – essentially anywhere where the fault of another party may have been identified.
“We are developing a number of innovative solutions in response to business issues we have identified working with our clients and we also see the application being able to be utilised by our commercial, banking and financial services clients.”