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ServiceUp and Fleet Response Partner Up to Provide Subrogation Services to More Fleets

Mar 19, 2024
Kam Thandi

We’re excited to share that we’ve partnered with Fleet Response to streamline subrogation efforts for fleets across the county. This partnership marks a significant milestone in fleet management where fleets have struggled to prioritize subrogation, leaving money on the table and unrecovered. With ServiceUp’s expertise in repair management, coupled with FleetResponse's extensive subrogation solutions, this collaboration is set to help fleets reduce total costs by decreasing cycle times and increasing recovery yields. 

“We’re thrilled to team up with Fleet Response to expand our reach and provide subrogation services to even more fleets,” said Stephanie Mier, Chief Insurance Officer at ServiceUp. “By combining our expertise and resources, we aim to streamline the claims process and maximize recovery for every single fleet out there."

Subrogation, often referred to as the right of recovery, allows an insurer to step into the shoes of the insured after settling a claim, enabling them to pursue damages from a third party who may be responsible for the loss. In the context of fleets, subrogation plays a crucial role in recouping losses resulting from accidents.

Based on data compiled by Fleet Response, approximately one of every four auto claims holds the subrogation potential. Typically, the recovery amount from subrogation efforts amounts to 10-15% of the overall physical damage costs for all reported claims. 

However, partnering with subrogation specialists can significantly enhance those returns. Companies working with us should expect to recover between 40-60% of their total physical damage costs. When focusing solely on claims with subrogation potential, it's entirely reasonable to anticipate a yield of 80%+.

So, how exactly can fleets benefit from this partnership?

  • Efficiency and Expertise: ServiceUp and Fleet Response have seasoned subrogation specialists who possess in-depth knowledge and experience in navigating complex insurance claims. With this combined expertise, fleets can expect a streamlined subrogation experience from start to finish.
  • Tailored Solutions: We understand that every fleet is unique, with its own set of challenges and requirements. That's why we offer customized subrogation solutions tailored to meet each client's specific needs and preferences. Whether it's optimizing claim filing procedures or negotiating settlements, we work closely with fleets to deliver personalized service and maximize recovery potential.
  • Advanced Technology: Leveraging cutting-edge technology and analytics, we identify trends, patterns, and potential areas for improvement in the subrogation process. By harnessing the power of data, fleets can make informed decisions and optimize their insurance strategies for maximum recovery, as well as directly impact their overall loss ratios.
  • Dedicated Support: Whether it's guiding the claims recovery process or offering support and assistance whenever needed, ServiceUp goes above and beyond to ensure that fleets receive the highest level of service and support.

This partnership with Fleet Response heralds a new era of enhanced subrogation services for fleets. With our expertise and FleetResponse's innovative fleet management solutions, fleets can expect improved efficiency, increased recovery, and peace of mind knowing that their recovery efforts are in capable hands.

Need subrogation support for your fleet? Schedule a time to chat with us!

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