Arbitration Forums, Inc. Announces American Family as Next Member to Join Settlement Exchange System® (SES®)
TAMPA, Fla., May 5, 2021 (Newswire.com) - On April 18, Arbitration Forums, Inc. (AF) welcomed American Family to its growing list of member companies to adopt Settlement Exchange System® (SES®), AF's automated subrogation payment processing product.
"Integrating SES with our technology was an economical and straightforward process," said John Kluesner, Shared Operations Associate Vice President at American Family Insurance Claims Services, Inc. "This adoption further increases our process efficiencies and reduces costs."
SES delivers substantial benefits and process efficiencies to members, with the estimated potential to save the industry in excess of $35M annually. It is the only broadly adopted industry solution, with 36 percent of E-Subro Hub® demands issued by current SES companies.
The SES product originated as an extension of AF's E-Subro Hub platform, the most widely utilized subrogation system with over 91 percent of the P&C market currently participating. SES is now available for all subrogation and arbitration transactions. Nationwide, Enterprise, Allstate, GEICO, and Travelers are also actively using SES to exchange subrogation payments.
SES facilitates both the automated issuance of electronic funds transfer (EFTs) and the processing of incoming subrogation and arbitration payments made via EFT once settlement is reached in E-Subro Hub or adjudicated in arbitration. Claim resolution triggers SES and the automated EFT payment. AF provides claim and coverage allocation data to the receiving party to automate the processing of the incoming EFT. Other than modest implementation-associated costs, SES is available to members at no charge.
SES features a payment aggregation option that allows netting of resolved claims among participants, reducing the number of payments between parties and providing participating companies the flexibility to determine the cadence of EFT payments and processing of incoming subrogation and arbitration recoveries. SES is suitable for integration with other technologies.
Kathy Mahne, President and CEO for AF, said, "Arbitration Forums is committed to delivering significant cost efficiencies and precise solutions for our members. As a trusted intermediary and industry partner, we continue collaborating with our membership to expand our settlement exchange and increase benefits for all members."
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Founded in 1943, Arbitration Forums, Inc. is a membership-driven, not-for-profit organization that exists to effectively and efficiently serve its over 5,200 members' recovery and resolution needs. AF is the nation's largest arbitration and subrogation services provider. Annually, its members file over 949,000 arbitration disputes and almost 1.7 million subrogation demands collectively worth over $13.9 billion in claims.
AF is a membership-focused organization dedicated to providing its members with exceptional service and valuable solutions. AF ensures its members are at the center of everything AF does. AF embraces this member-centric mindset by implementing member feedback at all points of service.
The membership is the key driver of AF's future direction. Through their continued support, AF builds upon current successes and ensures its services continue to provide effective dispute resolution alternatives.
For more information: www.arbfile.org.
Contact: Jennifer Felder - Director of Communications, Training, and Member Satisfaction
Telephone: 813.915.2215 Email: jfelder@arbfile.org
Source: Arbitration Forums, Inc.