News

Aon Sells Subrogation Services Business to Praxis Consulting

06.28.2010

Aon Global Risk Consulting, a leading provider of risk advisory services and part of Aon Corporation (NYSE: AON), announced today that Praxis Consulting has acquired the assets of Aon Recovery, the firm’s subrogation specialty business unit. Financial terms of the transaction were not disclosed.

New National Survey of P&C Insurance Company
CFOs Confirms That Subrogation Equals Profit

11.30.2009

“Subrogation Operations: A Financial Point of View” Reveals that Insurance Company CFOs Who Report Subrogation as a Core Activity Report Higher Recovery Rates

Praxis commissioned third party research firm The Ward Group to conduct a survey among CFOs at property and casualty insurance companies nationwide. The results reveal CFOs’ perspectives on subrogation’s impact on profit at their companies. The findings show that CFOs view subrogation recoveries as having a positive impact on profits, and CFOs who treat subrogation as a core activity, report higher profit and satisfaction.

Praxis Unveils New E-book: Getting Back to the Basics: 5 Basic Concepts to Improve Subrogation Results for Your Company

10.14.2009

Based on the company’s years of experience and the results from The Ward Group study, Getting Back to the Basics, walks readers through the most cost-effective and time-saving methods of recovering deductibles.

Learn how (and why) subrogation can be an effective customer retention tool for an insurance company, how subrogation can have a positive financial impact on the bottom line, why centralizing subrogation will obtain the best recovery results for a company, why the subrogation department is deserving of essential resources and how to eliminate missed subrogation opportunities.

The Ward Group

02.15.2009

A comprehensive benchmarking study dedicated to evaluating New York & New Jersey Automobile PIP/Med Pay Subrogation is now in progress. The study will analyze state specific subrogation recovery ratios, expenses, staffing, productivity measures and operating best practices for 2007 and 2008.

Indiana-based Praxis Consulting commissioned the study to help insurance companies better understand and manage their subrogation performance...

Geico

12.03.2008

The word ‘subrogation’ probably doesn’t mean a lot to most Americans. But for anyone who’s been the victim of someone else’s reckless driving, subrogation — the process by which insurance companies make sure that the at-fault party is responsible for costs in order to keep your rates low — is familiar and valuable

Press

Claims Advisor Magazine:
Don't Back-Bench Subrogation Efforts

summer 2010

By John Geer, Praxis Consulting

If an insurer consistently pays out more than what it actually should owe, its bottom line takes a hit, so subrogation of claims losses has to figure prominently in the corporate earnings and loss landscape. In the fight for tools, resources and talent, though, subrogation has taken a back seat to other claims processes despite ranking among the top-three revenue sources for insurance carriers, following only premiums and investment income.

Subrogator Magazine

Winter 2009

Praxis recently expanded its association with insurance giant GEICO to complement and enhance GEICO’s internal subrogation recovery effort in order to ensure GEICO’s internal subrogation recovery effort in order to ensure GEICO’s continued success in its pursuit of “best-of-breed” subrogation recovery performance.

“Praxis’s ongoing efforts have contributed to GEICO’s subrogation performance and we look forward to enjoying the ongoing success of this relationship,” said Jay Braddock Jackson, Claims Attorney for GEICO.

Added Robert Ford, President and Founder of Praxis, “From the beginning, Praxis has been about helping our clients do better for their customers and we are pleased to grow our relationship with GEICO. Their commitment to leaving no stone unturned in the pursuit of all available revenue consistently allows them to be an outstanding value.”


Insurance Networking News

07.23.2009 | By Pat Speer

There is a longstanding industry shortcoming: Major insurance carriers often overlook subrogation opportunities as a potential means of offsetting losses, maximizing revenue and positively affecting customer retention. This is among the results of a recent study conducted by Praxis Consulting, a provider of specialized subrogation consultative services, and commissioned third-party research firm The Ward Group. The study of New York & New Jersey automobile PIP/med pay subrogation analyzed state-specific subrogation recovery ratios, expenses, staffing, productivity measures and operating best practices for 2007 and 2008...

Insurers Missing Boat On Subrogation Claims

07.23.2009

Praxis Consulting, a provider of specialized subrogation consulting services, sponsored a survey of 14 auto insurers in New York and New Jersey to examine automobile personal injury...