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.
“This will mark the first time that anyone has undertaken a benchmarking study of New York and New Jersey PIP subrogation results. The study will allow participating companies to compare their subrogation recovery results with those of other carriers operating in those states,” said Robert Ford, president and founder of Praxis.
A diverse group of insurance companies of various sizes and mix of business are participating in the study. Participants will receive a complimentary report of their individual company results compared to benchmark peers.
Companies should contact Ward Group by March 16 to enroll in the program. Contact Betty Cornelius at bcornelius@wardinc.com or call (513) 746-2404.
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