Insurtech RecovX Health has announced that it has filed patents for InjuryClaimsExpress, which it calls a universal consumer-direct claim app.
“In total we filed 11 unique patent claims for our inventions, which together comprise the revolutionary, cloud-based mobile app for injured parties,” said David Narigon, general counsel for RecovX Health. “We term it universal, because our app will enable the injured person to organize and file their claim documents and medical documents with any insurance company at no additional cost to the claimant or insurance company. The world of third-party injury claims hasn’t really changed in the last 40 years that I’ve been in the insurance business. Our solution will bring sweeping changes to a part of the claims process that is mired in archaic, manual slow processes that create a distinct disadvantage for injured claimants.”
Narigon said that InjuryClaimsExpress analyzes multiple dimensions of injury severity and the impact that injury and recovery have on an individual’s personal life and health.
“We create an objective, customized claim value range that an injured person should expect an insurance company to pay for their injuries,” he said. “The system contains historic pattern analysis, expert analysis, accurate medical analysis including treatment and recovery information, as well as the impact on a person’s occupation, mobility, future care and psychological wellbeing.”
“I’ve been developing claims systems for insurance companies for over 20 years, and a couple of years ago I experienced what it’s like to endure the claims process as an injured third-party claimant,” said Lee Fogle, founder of RecovX Health. “I decided then and there it was time to turn my attention and experience to help the annual three million injured claimants’ needs for information and assistance. We designed a self-service approach that empowers people to file their claim directly with the insurance company.”
Fogle said that the self-service app reduces the time it takes to settle claims by an average of 50%, and by eliminating unnecessary costs, claimants are able to receive 1.5 to two times average net compensation.
“Furthermore, our app reduces the cost of claims administration for insurance companies, which has an effect on reducing the overall cost of insurance for everyone,” Fogle said. “This is a win-win-win situation, since attorneys representing claimants or claimants without an attorney can use InjuryClaimsExpress. The industry now has a solution to arrive at fair, scientifically based values for injury claims.”
