"GEARED" FOR PAYBACK
You know a subrogation demand is coming from the third-party carrier. This is the tag you’ll manually add to the claim file in anticipation.
What is the TPC - Subro tag?
This vendor is used when you receive a subrogation demand from a third-party carrier and can assist with handling the demand.
What is HyperQuest?
The claim is still actively being worked, so we’re holding off on sending it to SubroIQ. This is the tag we use when we are not yet ready to have SubroIQ attempt recovery.
What is the Potential Subrogation tag?
When speaking with the other carrier and they mention submitting a subrogation demand, you should ask this, then adjuster/update this accordingly.
What is “How much is the demand?” and then update the reserves accordingly?
Once all payments are made and no further handling is required, remove the "Potential Subrogation" tag and apply this tag to the claim.
What is the Active Subrogation tag?
This vendor is used for standard virtual auto appraisals and handling first-party subrogation demands.
What is Snapsheet?
You must add this tag after discussing the potential risks when a policyholder chooses to go through the at-fault carrier.
What is the Notification Only tag?
This vendor is used when Reserv is pursuing reimbursement on not-at-fault claims.
What is SubroIQ?
The Resolution Specialist must update this reserve under the policyholder exposure, breaking it out by the exact dollar amount for vehicle damage, towing, storage, rental, deductible, and other related costs.
What is Recovery Reserves?
When the "recovery received" task is generated, the specialist should do this next.
What is review for deductible reimbursement to the policyholder?