Why don’t we just do this ourselves?
That question has been asked by every single one of our customers before engaging with Paragon …. and it is a legitimate question. Every insurer has to consider the best solution to a problem and the most efficient use of their resources.
When it comes to (what seems like) straight forward billing and collection activities involving deductibles, subrogation receivables, or various assets related to loss sensitive policies, it is easy to initially assume that using internal staff is the right answer. However, once you sum up all that is needed to appropriately support these programs, you can begin to understand why more and more insurers are turning to companies like Paragon. Time and time again, Paragon has been able to prove that we can provide our clients with a sound business solution that yields better results, requires fewer resources, and is more cost effective than doing it internally.
Paragon applies a high level of refinement and technology to these typically underserved areas of a carrier’s operations. Paragon uses predictive analytics, inference algorithms, and a number of proprietary processes to improve the identification and recovery of assets that are owed back to insurers.
In addition to Paragon’s technology, our team of Claim Analysts manually review each and every receivable prior to approving it for recovery. This quality assurance process ensures that only valid receivables are being pursued. And since Paragon’s services are intrinsically scalable and fees are 100% contingency based, clients will already have a flexible solution for periods of increased activity, growth, or even market downswings.