Case Study: Velocity Risk Underwriters improves claims reserve management with CaseGlide

Velocity Risk Underwriters improves claims reserve management over 2 years with CaseGlide

Velocity Risk Underwriters, a provider of insurance for difficult-to-service coastal markets, faced a challenge in accurately establishing case reserves for its litigated claims. Inadequate reserving posed compliance and financial risks, and the company lacked a single platform to track exposure probability in real-time. They partnered with their existing vendor, CaseGlide, a claims litigation management solution, to solve this problem.

CaseGlide implemented a new workflow within its platform for Velocity's defense counsel to track anticipated settlement amounts and their probability. This allowed Velocity to calculate a settlement probability blend and adjust reserves with greater accuracy and consistency. The solution also provided the measurable impact of enabling Velocity to rank and rate their attorneys based on accuracy, helping them choose the best counsel for future cases.

Velocity Risk Underwriters