Precedent's demand monitoring is a unique solution, enabling insurance companies to monitor email, physical mail, and faxes to ensure all demands are identified, prioritized, and aggressively worked. Our technology prevents bad faith exposures by alerting your staff of high-risk items while helping monitor the negotiation process.
Demand letters from claimant’s attorneys can be challenging due to the sheer number received and the legal language throughout the documents. At Precedent, our demand monitoring solutions use AI technology that aids in the identification, monitoring, and negotiation process to prevent lost or casually reviewed demands. Our technology ensures all demand letters are identified and reviewed to reduce bad faith exposure and/or astronomical defense expenses.
Insurance companies nationwide receive thousands of documents and demand letters each day. This could result in a disastrous situation if an insurance company misses even one demand letter, resulting in bad faith exposure and millions of dollars in settlement expenses. Precedent demand monitoring instantly recognizes, reads, and alerts your staff of high-risk items when a new demand letter is received via mail, fax, or email. This provides an additional line of defense against bodily injury claims that could result in additional legal actions.
Insurance companies can dramatically reduce the risk of bad faith exposure, litigation, and settlement costs by automatically detecting and monitoring attorney demand letters. At Precedent, our demand monitoring solutions identify and keep track of all crucial dates, including a demand’s expiration date, negotiation offers, and settlement date, to help prevent expediential settlement costs.
Contact us today by filling out our online form to learn how we can help you identify and monitor claimant’s demand letters. We provide the most accurate demand intelligence solutions and look forward to helping you gain a competitive advantage while improving claims processing.
