Case Study: Velocity Risk Underwriters improves reserve accuracy with CaseGlide

Velocity Risk Underwriters uses CaseGlide to improve claims reserve management and reserve exposure

Velocity Risk Underwriters, a provider of insurance for coastal markets, faced a challenge in accurately establishing case reserves for its litigated claims. Inadequate or excessive reserves could impact financial stability and cash flow, and the company lacked a single platform for real-time exposure analysis. They partnered with CaseGlide, their 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 blended exposure, predict reserves more accurately, and adjust them in real-time. The solution provided greater accuracy and consistency in estimating exposure. Furthermore, CaseGlide's structured data enabled Velocity to rank and rate its attorneys based on their forecasting accuracy over time.

Velocity Risk Underwriters