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Identifying and Recovering
Subrogation Opportunities

Missed Files Happen

1-5% of recoverable claims never make it to subrogation.

Are you experiencing any of these contributing challenges?

Multiple Systems

Budgetary Constraints

Retaining Expertise

Access to IT Resources

Years of experience combined with purpose-built technology has yielded expertise in:

Collision & PIP

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The Plan for Getting Your Money Back

Every Claim Reviewed
Our trained professionals conduct a thorough review of every claim leaving no file behind.

Proven Process
We offer a seamless transfer of data not only with a methodical manual approach, but also customized analytics.

Get Money Back
We successfully increase your bottom line, reduce reserves, and decrease fixed overhead.

What Makes Praxis Uniquely Qualified to Get Your Money Back

Experienced
Over 20 years in the industry.

Economical
We've recovered over $750 million for our customers.

Preferred
8 out of the 10 major insurers use our services.

What Makes Praxis so Different

Insurance companies miss out on millions of subrogation dollars every year because of lack of time and resources. At Praxis, we have a proven system to find money that belongs to them. Continue Reading...

At Praxis, we know when it comes to finding the missed money in claims through subrogation you want to be thorough and we also understand that hiring an outside vendor can put you at risk with the data. We appreciate that's a big priority – not always a huge return, but a huge risk that can make you feel uncertain.

We believe you should be able to trust the vendors that you work with and that they treat your data like you treat your data. We know it is important to protect what is yours and Praxis shares this value which is why 8 of the top 10 insurance carriers trust us with their data.

Not only that, we have recovered over 900 million dollars for our customers.

Here is the process that we go through, first, we make sure that we keep your data safe at all times. We know that is the biggest risk. We have been certified (SOC 2) going through an annual audit to make sure that our procedures and processes are secure.

Next, we make sure to conserve your internal IT resources by putting together data and a plan to help you.

Lastly, we get your money back. All you need to do to get started is schedule a meeting with us. In the meantime, here is a quick e-book on the basics of subrogation so you can see what companies in your industry are doing.

Once you start with us, you will stop worrying about missing out on tens of millions and will not be putting yourself at risk with someone else.

Ultimately, your bottom line will improve, you’ll be confident that you went through the right process, were thorough in getting your money back, and feel like a priority because that is key to us as your partner. You will experience an ease of process and feel important, because you are.

Explore the solutions we offer:

Subrogation Outsourcing

Consider outsourcing your subrogation. This turn-key offering provides the shortest path to a complete solution.
read more

Closed File Review

Consider it a safety net. Missed opportunities found and recovered. The check is in the mail.
read more

Arbitration

Arbitration is a highly-specialized skill; one that offers the opportunity for significant recoveries on disputed claims, as well as preventing payouts on third-party counter claims.
read more

Subrogation Funding

Praxis can provide companies with liquidity for an otherwise unrealizable asset.
read more

Power of the Subrogation Dollar

Subrogation dollars and investment income have historically challenged each other for the second largest income stream for insurance companies. Premium dollars are number one. Personal auto collision payments total about $40 Billion annually. Using the recovery to paid loss benchmark, it is estimated that annual subrogation recoveries total $7.5 Billion. Add in No-Fault, Property, Worker’s Compensation and all other lines of business and the overall subrogation potential is dramatically increased.

The magic of subrogation is that it is an unencumbered dollar, other than the cost of collection. The below chart illustrates, with some realistic assumptions, that the subrogation dollar yields 18 times a premium dollar. Said another way; to provide the same bottom line value as $1 Million in subrogation, $18 Million in premium would need to be earned.

Is your company taking full advantage of the Power of the Subrogation dollar?

	Premium	Subrogation
Total Dollar Amount	$100	$100
Paid Loss	($61)	$0
LAE	($12)	$0
Underwriting Expense	($22)	$0
Cost of Collection	$0	($10)
Total	($95)	($10)
Net Amount	$5	$90
Subrogation dollars yield 18 times a premium dollar

Free Articles

A Finance Point of View

Did you know that companies that outsource just a portion of their claim files to outside service providers have recovery rates 2.3% higher than those that do not? Are you aware of your subrogation recovery ratio? Download now to join the 39% who see strategic value in subro.

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Getting Back to the Basics

Subrogation and salvage are the only parts of the claims organization that can generate positive income. Read our 5 Basic Concepts to Improve Subrogation Results for Your Company to go back to the [subrogation] basics and fundamentals.

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Subrogation and Your Bottom Line

Even small increases in subrogation recovery have significant effects on the loss ratio and a company’s profit or loss for any given year. Typical insurance companies recover approximately 5.1% of their paid losses via subrogation. Read the Ward Group Study.

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PRIMA 2018 Annual Conference

Annual Workers' Compensation Educational Conference

NWCDC Conference

Ethics in Subrogation

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