Audatex introduces subrogation portal
Audatex has developed and launched its new subrogation portal, with leading insurance provider LV= as the first customer.
Quantex was developed to tackle widespread industry issues associated with the recovery of subrogated losses on non-fault claims, and will address the outdated processes, streamlining communication between insurers.
With the launch of Quantex, Audatex provides a ‘seamless, digital platform for insurance companies to talk to and settle claims with one another’ aimed at increasing efficiency and transparency, reducing claim lifecycles and providing greater certainty on recoveries and reserving. The portal also offers a matching platform that automatically matches claims between insurers, including liability and indemnity positions.
Quantex will join Audatex’s portfolio of data-driven solutions that use secure API integration to cross pollinate. AudaEnterpriseGold will be the source of the data flow into the heart of Quantex. The system takes inspiration from industry renowned credit hire platform – CHOX.
Martin Milliner, general insurance claims director at LV=, said, ‘The Quantex tool has the potential to revolutionise the way we communicate with other insurers during the claims process. It’s a well-known fact that the current system is outdated, and involves a lot of back-and-forth with various providers to gather the correct information. We pride ourselves on our high levels of customer satisfaction and hope that Quantex can ultimately help us deliver an even better service to our policyholders.’
Elliot Roberts, product management director at Audatex, said, ‘I am really looking forward to seeing the result of wider use of Quantex, this software will reach its full potential when the whole industry is working this way.’