London, UK - 16 September, 2008 - Insurance Services Office (ISO) Limited, the UK's leading provider of next generation personal injury claims services and solutions, has announced a strategic collaboration with leading medico-legal software provider, WARP Technologies. ISO has integrated its Claims Outcome Advisor (COA) system with WARP's medical reporting software to produce the industry’s first solution to entirely digitise the medical reporting process between doctors and insurers. The combined systems dramatically reduce personal injury claims lifecycles by using technology to streamline the existing process and removing ambiguity currently inherent in medical reports.
Highly accurate medical reports, produced using WARP's software, are imported into ISO's COA system, an intelligent database of each client’s historical settlement amounts for similar claims that covers more than 18,000 medical conditions. This helps insurers evaluate and manage the complex details of each personal injury claim. The WARP system allows doctors to quickly produce accurate medical reports which are then provided to claimant solicitors and insurers. By seamlessly integrating the two systems, ISO and WARP Technologies have removed the risk of claims handlers misinterpreting the medical report and eliminated data entry errors because the details are entered directly by the medical expert, not the claims handler. The new system enables claimant solicitors and insurers to reduce negotiation disputes, as well as the time it takes handlers to process medical report claims.
"This comprehensive database, in combination with WARP's software, means that claims can be evaluated and settled faster," said Joe Pendle, Director of Client Services for ISO. "Approximately 80 per cent of all motor personal injury claims are less complex whiplash or soft tissue injuries but even so, take as long as nine to 12 months to process. WARP and ISO's system integration can significantly reduce this time."
"WARP has a good lead in the market. With more than 350 doctors already on board, we've got great national coverage and we're continuing to spread the word - with ten doctors a week taking up the software. The system is well-proven, having already been used to process more than 80,000 claims in the last 12 months," commented Eric Baygot, Sales and Marketing Director for WARP. "We know the technology works, so it's just a matter of working with medical agencies, lawyers and insurers to bring them the benefits of streamlining the process."
"It's a big step for the industry. We've already got a number of major insurers on board," added Joe Pendle. "For us, it's part of our ongoing development in the area of personal injury claims. It's the first in a series of steps that will dramatically improve the efficiency of the settlement process and will revolutionise the way claims are processed."
About WARP Technologies:
WARP (www.warptechnologies.co.uk) is a seamless electronic process linking instructing parties with doctors. The link is secure and saves the doctor, medical agency, solicitor and insurer significant time and money. More than 350 doctors are now using WARP, with over 120,000 reports so far submitted into the company’s database.
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyse, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. Around the world, ISO helps customers protect people, property, and financial assets. For more information, visit www.iso.com or contact:
ISO - Business Development Manager
Tel: 01252 761055
The PressOffice - PR for ISO
Tel: 01780 721433