Data Things: Exploring Analytics to Battle the Evolution of Upside-Down Litigation
Objective: Insurance litigation in Florida is so bad, it’s practically a parallel universe or our own version of the “Upside-Down.” Recent legislative changes will take time to make a difference and do nothing to address claims besides property. In 2022, there were over 450,000 lawsuits filed against insurance companies (first party only) in Florida. Technologically speaking, Florida’s court and many insurance carrier systems are outdated. When carriers get sued, they get a mess of information and have to employ people to extract data manually. How can they address this issue when they're spending resources just putting information into a computer?