Nuvalaw, Trust Arbitration launch streamlined claims resolution platform
Nuvalaw, the insurtech, has partnered with alternative dispute resolution (ADR) specialist Trust Arbitration to launch a claims resolution platform.
The platform combines Nuvalaw’s technology offering with Trust Arbitration’s specialist arbitrators to provide swift online ADR for personal injury claims. It also offers access to Nuvalaw’s suite of digital negotiation and document management tools.
Personal injury (PI) claims that have reached stage three on the Ministry of Justice (MoJ) claims portal or developed into liability or quantum disputes on the Official Injury Claim portal represent a major issue for insurers, claimant lawyers, and claimants, Nuvalaw said. Nuvalaw’s platform works seamlessly with the MoJ’s Claims Portal and Official Injury Claim portal.
The average time to settlement for PI claims in 2019 was 40 weeks, increasing to 62 weeks in 2020, as a result of the disruption caused by COVID-19 on the courts.
Nuvalaw and Trust Arbitration’s new cloud-based platform handles all aspects online through to final settlement, potentially reducing claims resolution times to less than three days.
The platform enables insurers, third-party administrators, claimant law firms and other organisations representing claimants to resolve disputes by digital negotiation, referring claims to online arbitration where necessary. The arbitrators review claims and make legally binding awards on the basis of documents submitted online or via online hearings.
The platform ran successful pilots with two top-tier UK-based insurers and five law firms. One law firm that participated in the pilot, Minster Law, predicted ADR will eventually become the standard for finalising cases where settlement cannot be reached directly with an insurer.
Willie Pienaar, chief executive of Nuvalaw, said: “There is an urgent need to speed up the resolution of claims and reduce costs relating to these cases, which have suffered further delays due to the pandemic. Our proven technology is in place and the process is very straightforward to ensure that claimants, law firms, and insurers can resolve these cases much more quickly and cost-effectively.”
Tim Wallis, director of Trust Arbitration and its associated company Trust Mediation, said: “We have coupled the infinitely flexible ADR process and proven technology to deliver online dispute resolution. Our arbitrators are carefully selected, trained and monitored to provide the same high quality and demonstrably impartial outcomes as a court, but more quickly, more simply and less expensively on a slick, user-friendly platform.”
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