ISO enhances COA claims handling solution to include a wider range of Heads of Damages

• Over 18,000 medical conditions and 14,000 occupations incorporated into COA database

Insurance Services Office (ISO) Limited, the UK’s leading provider of personal injury claims and anti-fraud insurance services and solutions, has enhanced its Claims Outcome Advisor™ (COA) claims-handling solution to include a wider range of Heads of Damages, in addition to General Damages for settling claims.

Although it is important to control General Damages, the COA solution offers a much greater functionality in capturing data on other Heads of Damages, such as legal costs, wage loss and future care. With this capability, insurers can obtain valuable management information and are able, for the first time, to report on their average costs per solicitor versus general damages.

The COA database now includes New Earnings Survey data for more accurate estimates of wage losses. Additional medical treatments, complications and prognoses that occur are also taken into account to further refine initial estimates.

ISO’s experience shows that typically General Damages represents one third of the cost of a third-party claim, with the remainder going towards legal costs, medical expenses, loss of earnings, any incurred material damages (car, personal possessions, etc.) and potential future costs (rehabilitation, personal care, etc).

Joe Pendle, Director of Client Services at ISO, says: “It is important to monitor and control these other Heads of Damages. Traditional claims-handling solutions have typically considered General Damages while more effective claims management systems like ISO’s Claims Outcome Advisor™ have a better and holistic understanding of the injury and occupational details. By tapping into a detailed database of more than 18,000 medical injuries, treatments, complications, pre-existing conditions and 14,000 occupations, COA helps insurers manage claims more accurately and consistently, while helping to prevent claims leakage across various Heads of Damages.”

About ISO Claims Outcome Advisor™ (COA)
ISO Claims Outcome Advisor™ (COA) solution is the industry’s first personal injury claims management solution that manages the multiple dimensions of organisations’ personal injury claims portfolios. COA understands the severity and recovery implications of over 18,000 injuries, treatments, complications and pre-existing conditions — and 14,000 occupations. COA helps claims handlers, managers and actuaries manage the unique and complex medical, legal, and occupational issues presented by personal injury claims, and helps ensure appropriate financial arrangements are agreed and implemented. Claims handlers can manage all aspects of a case from first notice of loss to return-to-work plans, rehabilitation and damages.

About ISO
Insurance Services Office (ISO) Ltd is a wholly owned subsidiary of Insurance Services Office, Inc., which is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, estate agency, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. Around the world, ISO's services help customers protect people, property and financial assets.  ISO's customers in the UK include Admiral Group, AXA Insurance, Chaucer Insurance, Highway Insurance, Lloyd's, Rubicon Corporation and Zurich Financial Services.

For more information please contact:
Mark Strang, ISO
Tel: 01252 761055
mstrang@iso.com

Manuela Whittaker, IBA – PR for ISO
Tel: 01780 721433
mwhittaker@iba-europe.com

If you would like to receive this release via e-mail, please contact ISO@iba-europe.com