We work diligently to ensure that our clients are treated fairly and that they receive the maximum compensation for their injuries. To do so, we are often going up against the Colossus software and not just insurance adjusters. Most accident victims are unfamiliar with how this software is used to evaluate their claim and how it can impact their injury case. With that in mind, here are some of the frequently asked questions we hear about it, along with our answers to them.
What is Colossus software?
Colossus software is the system used by many insurance companies to help them determine what the value of an injury claim is and how much they should pay out. The software is not owned by any one individual insurance company but is licensed to them by Computer Science Corporation (NYSE:CSC). This means that since nothing is proprietary, you may find similarities between insurance companies in regards to how claims are evaluated and what they are willing to pay.
Why do insurance companies use a claims settlement software to evaluate injuries?
Money. By removing the element of human empathy and interaction, or at least minimizing it, a computer software program can offer settlements to clients without having any emotion attached to it. As a result, clients typically receive less money during the claims settlement process. This theory has actually been proven as the majority of the large insurance companies have seen their profits rise in recent years after having switched to the system.
As an added benefit, insurance companies save on labor since Colossus streamlines the settlement process.
How does an insurance company use Colossus software?
The Colossus system uses information provided in your medical records and diagnostic forms to determine how severely injured you are and what compensation you should be entitled to for those injuries. The software can recognize up to 100,000 injury factors, so it’s quite comprehensive. This makes it important to make sure that your medical records are complete and accurate. We will work with your doctor to ensure that they are prior to submitting them to the insurance company.
What can an attorney do to help my case?
We can ensure that you are treated fairly and that you receive a good settlement offer, regardless of what Colossus agrees to. At the end of the day, an insurance company may use this software as a tool but we can always push for mediation or a trial in order to seek the financial damages you deserve.
To discuss your personal injury case in further detail, call us today to schedule a consultation.