Helping injury lawyers understand value inputs to increase case value under Colossus
Today I’ll be presenting during a CLE webinar to personal injury lawyers on the effect of Colossus software on car and truck accident lawsuits.
Colossus is designed to low-ball settlement awards for injured auto accident victims.. The software is used by most large auto insurance companies to “calculate” the settlement value of car accident injury claims. The system involves the insurance adjuster feeding data into the program, which then gives a settlement range.
My webinar will offer personal injury lawyers an examination of:
- Colossus and similar software used by insurers to assess auto accident claim values;
- The information these programs provide for auto accident victims and their attorneys; and
- How lawyers can obtain higher settlement amounts for clients with insurance companies that use Colossus.
This might sound odd, since I mentioned that the goal of Colossus for insurance companies is to methodically drive down auto accident settlements and to discourage personal injury lawyers from taking “soft tissue” injury and low vehicle damage car accident cases.
But if personal injury lawyers really understand how the software works, then they can write better settlement demand packages and give claims adjusters the information (value inputs) they need that can multiply the dollar value of a case.
Lawyers who understand what is important to the software and what drives up case values have a huge advantage over lawyers who don’t. Lawyers who write beautiful demand packages with lots of prose and wonderful narratives about just how devastating the injury is for their clients, and how terrible this has been for them, but who don’t attach the correct medical records and identify the value inputs for what is normally an overworked adjuster, will find that what they say is completely ignored.
Colossus does not care what a lawyer thinks or how beautiful he or she writes. In addition to information about injuries, the Colossus and related software also tracks the history of lawyers and medical providers. As a result, a personal injury lawyer who never goes to trial or who always works with a certain chiropractor will again see much lower settlement offers from lawyers who represent a legitimate trial threat.
During this webinar, I will also offer tips and best practices for dealing with insurance adjustors and defense counsel who rely on this claims software to obtain higher settlement offers.