Insurance and Subrogation Collections Solutions

Southwest Recovery Services

Insurance and Subrogation Industry Debt Collections

nsurance companies process damage claims, and subrogation is often involved. As a legal right, insurance companies can pursue a third party involved in a financial loss to the insured. An individual’s insurance company covers a claim for losses, then requests reimbursement from the other party’s insurance company — often seen with automobile, fire, workers’ compensation and health care claims.

Southwest Recovery Services, LLC can collect claims as your trusted insurance debt collection agency. We partner with policyholders to settle disputes and ensure all parties are cared for.

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What Is Insurance Subrogation Debt Collection?

Insurance subrogation collections protect policyholders and insurers from paying for an incident that wasn’t their fault. For example, if you were t-boned in a car accident, the at-fault driver’s insurance should pay for your automobile repairs.

A lot of the subrogation process is done behind the scenes. The policyholder is responsible for reporting the incident but can otherwise let both insurance companies handle who pays for what.

Challenges With Subrogation in Insurance

An insurance company’s recovery operations are a critical process. Recovery operations impact all lines of business, specifically applying to workers’ compensation liens, first-party property claims, auto physical damage claims and surety bonds.

The process often overlooks subrogated claims and creates poor communication between the claim handler and the assigned adjuster. In many cases, the claim closes and is paid before a recovery specialist is involved.

Insurance companies also handle deductible collections, bond collections and premium recovery. All aspects of the recovery process are challenging to adequately manage, leading to a significant revenue loss.

Best Practices for Insurance Debt Collection

To overcome common challenges, here are some of the most successful practices for insurance company claims:

Foster communication: Proactive communication between insurance companies and policyholders is one of the most effective debt collection strategies. This relationship creates clarity with payment deadlines, payment options and outstanding balances.
Leverage technology: Automation technology can ensure constant communication with policyholders, sending them frequent reminders of their balance. Use technology to your advantage to simplify the process for your administrative team.
Partner with a third-party company: Partnering with a third-party debt collection company takes all policyholder debt-related tasks off your plate. They can handle communication and collection services efficiently and professionally.

Southwest Recovery Services Solutions

As an experienced and professional debt recovery company, we have 20 years of insurance collection experience. We understand that disputes frequently arise between insurers and policyholders. Our team can work with policyholders to help them understand their policy’s terms and conditions and language, settling disputes between all parties.

Southwest Recovery Services can help collect your unpaid accounts’ earned premiums, audit premiums and adjustments, subrogation files, unpaid deductibles and bonds. Our approach includes credit risk and file evaluation with legal action when necessary.

Our Comprehensive Collection Services

We tailor our collection services to meet your unique needs so you can get the subrogation payments you’re owed. Southwest Recovery Services, LLC offers:

First- and third-party debt collection: We can handle first- and third-party debt collection for business debt. For first-party debt collection, insurance will pay us directly for your subrogation, and we will transfer the amount to you. We also handle third-party collections for outstanding or late payments.
Revenue cycle management: Insurance filings are important to get correctly the first time. We take care of revenue cycle management (RCM) for insurance claims for health care facilities.
Accounts receivable management: Unexpected expenses — such as workers’ compensation or automobile crashes — can interrupt revenue. We will ensure all expenses are covered so your cash flow remains efficient.

Benefits of Using an Insurance Collection Agency

Insurance collection agencies are key players in the subrogation process. Partnering with a debt collection agency for insurance subrogation can take the responsibilities off your shoulders, handling all aspects to ensure you get paid.

Specifically, insurance collection agencies can provide:

Effective techniques: A professional agency has effective techniques in place to make the subrogation process run smoothly. They will walk you through the necessary steps so you can relax.
Understanding state laws and regulations: Subrogation sometimes requires legal protection in more complex situations. An insurance collection agency complies with state laws and regulations, guiding you through legal action when necessary.
Advocate under challenging conversations: Because an agency contacts the other parties on your behalf, they will act as your advocate. This way, you can rest assured knowing your side of the situation will be handled professionally and carefully.

Why Choose Southwest Recovery Services, LLC?

Southwest Recovery Services, LLC works on a contingency basis — we don’t get paid unless you do. You can trust us to handle your subrogation fairly and ethically. We are on your side!

We can help through our:

Experience: Since 2004, Southwest Recovery Services, LLC has dedicated our resources to helping companies of all industries collect their debt. Our team is expertly trained to offer specialized strategies for insurance companies.
Nationwide presence: We are nationally recognized for our debt collection services. While we are headquartered in Dallas, Texas, we also have offices across the United States in Texas, Georgia, Missouri, Oklahoma, Ohio and Florida.
Innovative solutions: Southwest Recovery Services, LLC holds high standards for our recovery solutions. We tailor our services to your unique needs and implement necessary state and federal laws to help you be successful.
Success stories: Our clients motivate us in everything we do. We are proud to serve various industries and help recover debt so they can thrive.

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Partner With Southwest Recovery Services, LLC

At Southwest Recovery Services, LLC, your insurance and subrogation are our priority. If you are interested in learning more about how we can help, get in touch with us online today or at an office location near you.

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Insurance and Subrogation Collections