The Role of Insurance in Personal Injury Claims: Statistical Analysis and Trends

A knowledgeable personal injury attorney can guide you through difficult insurance claim procedures. Personal injury claims involving auto accidents, medical malpractice, premises liability, animal attacks, and slip and fall incidents are affected by the insurance companies involved.

The compensation that injured people might get varies depending on the extent of insurance available. Receiving compensation can be challenging since many insurance firms prioritize reducing payments to boost their bottom line. 

If you’re interested in more information about the role insurance may play in the outcome of your claim, consider contacting the personal injury professionals at T. Madden & Associates, P.C. Read on for more information about trends in personal injury claims and insurance. 

Statistical Analysis and Trends in Personal Injury Insurance Claims

Insurance plays a major role in the outcome of your claim, here are some trends in the insurance industry that are affecting the outcomes of personal injury claims throughout the country. 

• Recently, personal injury insurance has increased. This has been driven by increased consumer awareness, a growing middle class, and government regulations. 
• Personal injury claims, like those in motor vehicle accidents, are one of the most common types of insurance claims. Other common types of personal injury claims included slip-and-fall accidents, workplace injuries, and medical malpractice.
• The shift toward digital claims processing has made it more efficient for insurers to use digital technologies to process claims.  Many companies have introduced mobile apps that allow policyholders to file and track claims digitally. Also, the introduction of AI technologies will allow insurers to process data and assist claimants more efficiently. 
• Insurance companies invest lots of money in fraud detection. This also includes using advanced analytics and AI technologies to detect and prevent fraudulent claims. Eliminating fraud will make it better for genuine claimants with real issues. 
• Since personal injury claims can result in significant payouts, payouts increase with the rising cost of healthcare and medical expenses. 
• Telematic devices monitor the driving habits of users used to assess risk more accurately and to speed up claims processing. 

The above trends will affect the insurance industry and the outcome of your personal injury claims. If you’ve been hurt in an accident, consider speaking with a personal injury attorney in your Florida community for a free consultation about how you can receive fair and just compensation. 

What If My Insurer Denies My Claim?

If you’ve been injured due to someone else’s negligence and their insurance company’s settlement won’t cover your damages, you can consider filing a lawsuit. A personal injury lawsuit seeks damages from those responsible, their insurance company, both, or any other entity that played a role in what caused your injury.

A personal injury lawsuit allows both sides to present evidence to indicate who is at fault. State laws determine how much can be awarded in a personal injury case. When both parties are found partially responsible, the injured party may only be able to recover the percentage that the other party is responsible for. 

Insurance Company Roles

Insurance companies are responsible for investigating claims, negotiating agreements, and paying out damaged parties. Your personal injury law team can speak openly with them and present all of the required paperwork to optimize your claim. 

Insurance companies are legally required to act in good faith while handling claims. A personal injury law firm helps policyholders be aware of their rights and choices if they feel their claim has been wrongfully refused. This investigative procedure aids in determining the claim’s veracity and stops fraudulent claims from being authorized. 

Do You Need a Personal Injury Attorney?

Insurance companies staff several lawyers to help them in their investigations, settlement offers, and lawsuits. When you don’t have an attorney of your own, you could be at a significant disadvantage. An experienced personal injury attorney in your community can help you navigate each step of your personal injury claim. Consider sitting down with one of them today.