Back in July 2009, INN reported on a survey that found auto insurers subrogation efforts to be lacking. Those insurers, the survey posited, are missing out on an opportunity to positively impact profits. Almost six months later, the same organization this time polled CFOs at property/casualty insurance companies only to find that their original supposition was proving correct—that CFOs who treat subrogation as a core activity report higher profit and satisfaction.
Praxis Consulting, a provider of specialized subrogation consultative services, commissioned The Ward Group to survey a diverse group of CFOs about their companies' subrogation activity, profitability, reporting and operations. When asked to rate the impact of subrogation recoveries on their company's net income, 67% of participants indicated subrogation recoveries had "some" or "significant" impact on their company profits.
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