Industry averages indicate that centralized subrogation operations experience a 37.5% higher referral rate on new subrogation opportunities than decentralized subrogation operations. Centralized subrogation also reduces the days to recovery by an average of 27.4%. These numbers are substantial and can directly affect increases in both customer retention and profit.

In order to track our subrogation performance and measure our productivity against industry benchmarks and best practices, our quality review program measures a minimum of nine pertinent factors.

Insurance companies often maintain the in-house status quo out of fear of a rough transition. Fortunately, Praxis Consulting promises a seamless one.

Praxis’s 7 Dimensions of Subrogation Assessment is the rubric we use to measure insurance carriers’ subrogation performance relative to industry benchmarks and widely-accepted best practices. Measuring clients’ internal process in seven primary areas, we’re able to map out actionable steps to improve their subrogation programs, and maximize recovery and revenue.

Missed files happen. In fact, an average of 1 - 5% of the claims that should go to subrogation, don’t. Depending on the size of a carrier, these missed files can translate into hundreds of thousands to millions of dollars.

Praxis has built a name for itself by providing highly successful subrogation services in the Property & Casualty Insurance arena. Praxis operates throughout the U.S., servicing a wide variety of insurance companies, in addition to reinsurers, self-insured companies, TPAs and state and governmental entities.

The following associations are integral to the Praxis process...

Praxis’s fundamental approach to subrogation involves a performance-driven relationship with our clients, and one that shifts the risk to us. Praxis’s competitive advantage revolves around the idea that we’re more than just another subro vendor; we’re consummate professionals who know where our services fit within the broader organizational structure and how they can profoundly affect a carriers’ bottom line. We specialize in developing comprehensive and turnkey recovery programs that suit each client’s individual needs.