AI and Economic Trends: A New Era of Opportunities in Subrogation

How is artificial intelligence changing the subrogation process? How has the economy changed carriers’ appetite to identify subrogation opportunities? And finally, how has increased M&A activity in the subrogation space affected the level of service provided by subrogation firms?

Artificial intelligence (AI) is impacting all parts of the insurance industry, from underwriting to claims management. What has been the effect of AI on subrogation?

Sean Garrett, SubroIQ: AI has significantly streamlined the subrogation process by automating the identification and management of potential recovery cases. AI algorithms can analyze vast amounts of data quickly and accurately, identifying subrogation and reducing both the need for manual review, and missed opportunities. The improved efficiency allows insurers to prioritize cases effectively and maximizes recovery amounts. Furthermore, AI can automate routine tasks, reducing manual labor and speeding up claims cycle time. Ultimately, AI has transformed property and casualty subrogation by enabling insurers to make data-driven decisions and achieve better outcomes, thereby positively impacting the bottom line of insurance companies.