Insurance Companies Using Software To Reduce Amounts Paid On Injury Claims

June 10, 2012

Auto Accidents

Insurance claims for injuriesMost, if not all of major American insurance companies are now using types of computer software programs which are designed to reduce the insurance companies’ payments to settle claims.  The software, by most accounts, is drastically reducing the amounts that insurance companies are paying out on bodily injury claims.  This is a serious problem if you find yourself injured and have not retained adequate representation.

The software is tuned with statistics on past injury settlements and verdicts from a given geographical area.  Based on the stats, it calculates what a particular injury may be worth and gives a settlement range.  If the insurance company determines that its payouts for claims are too high at any given time, it simply re-tunes the software to allow for lower settlement values.  Invariably and quite obviously, this scheme results in unjustifiably low settlement offers to persons who suffer bodily injury.

The software uses a multitude of ways to reduce settlement valuations through its users “tuning” ability; this includes removing high cost claims from calculations, which usually were decided by a jury.  The problem with that is jury verdicts are the most reliable calculator of damages, settlements are not.  Stated another way, the software chooses only the settlement cost of past claims, not the actual cost of a claim if tried before a jury.  Jury verdicts are generally higher than settlements—simply because members of a jury are capable of being sympathetic to an injured plaintiff, while software that calculates damages does not take anything into consideration except past minimum settlement values.

Damage calculation software takes any individuality out of consideration.  As a result, it calculates the lowest possible settlement offer possible—even if that means the bare minimum damages are not covered by the result—your medical bills.  The software can even be tuned to eliminate the possibility of any future medical bills for an injured consumer!

Insurance companies are forever striving to manipulate pay outs on claims and keep more money for themselves.  After all, they are in business to make money, not in business to be sympathetic to injured consumers.  Bodily injury comes in thousands of variations, most of which are not accounted for in any insurance damage calculation software.

There is only one way to avoid becoming a victim of low-ball settlement offers from insurance companies if you become injured:  Hire an experienced personal injury attorney to insulate yourself from the possibility of being insufficiently compensated.  Please contact Slater & Zurz, LLP by calling 1-800-297-9191 or send a Blog Message to set up a meeting with the finest personal injury attorneys in the area.

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About slaterzurz

Slater & Zurz LLP is an Ohio law firm of highly experienced and respected attorneys. Over the last 40 years, we have developed a reputation for getting positive results for clients. We've been trusted with handling over 20,000 personal injury cases and our clients have received more than $120,000,000.

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