Siteras

The Intelligent Subrogation Network

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COMPANY OVERVIEW

Siteras Technologies provides an electronic "clearinghouse" for insurance subrogation demands and responses. We connect insurance carriers and other parties involved in the subrogation process through an intelligent electronic network. Whether your internal processes are highly automated or whether they are more paper-based, you can easily communicate and collaborate with other companies through Siteras with minimal IT involvement. Since Siteras is a neutral third party, we provide "one-stop-shopping" for connecting your company to an electronic subrogation world.

Challenge

Subrogation today is a paper-based, highly manual process. Demand letters and proofs are mailed to responding carriers...demand packages eventually make their way through the responding carrier's internal mail to a busy adjuster in an claim office...depending on the adjuster's experience, demands may not be audited...carriers make first contact with the responding adjuster weeks or even months after the demand was mailed...responses often are mailed back to the demanding carrier...and so on. As with any paper-based, manual process, subrogation can be a slow, expensive, error-prone process. Subrogation cycle time can frequently be 120 days or longer, administrative costs can exceed $300 per file, errors and cost leakage can often occur, and management information can be lacking. Some carriers have automated their internal subrogation workflow, but automating inter-company workflow has been impossible thus far. Siteras now makes inter-company automation a reality.

Vision

Our vision is to create a fully automated, electronic subrogation community consisting of large and small insurance carriers, arbitrators, attorneys, vendors and any other entities who participate in the subrogation process. Our goal is to significantly reduce cycle time and increase the efficiency of today's subrogation process by allowing carriers to issue demands, respond to demands, audit demands and settle demands electronically. Siteras' web-based solutions streamline paper-based, inter-company processes by eliminating many time consuming manual steps allowing your valuable workforce to focus on more strategic activities.

Siteras Added Value

The Siteras difference is our unique workflow technology applied specifically to subrogation, our obsession with listening carefully to customers, our speed and flexibility in solving customer problems, and our determination to provide quality solutions that you can depend on.