Is Colossus The Same As Teach

What is COLOSSUS? The name sounds ominous, like something you should stay away from. This is the name of the computer program used by part of the insurance industry to systemize and minimize the amount of the settlement on your personal injury case. COLOSSUS is the program used by Allstate Insurance Company. TEACH is the State Farm version.

Almost all insurance companies use a computer program. Thi program is used for the purpose of helping the insurance company their money. This is done by having uniform settlements with the data to support it. This is so they don't get sued for bad faith. The insurance adjuster simply enters the data into the program. The program gives the adjuster a range that a case can be settled in. An attorney, by making sure all the data is given to the adjuster and outlining that data, can ensure that these numbers are as high as possible.

Settling an auto accident ase is much more difficult now than it was in th 1980's. The facts of the case and the injuries involved would be evaluated by an adjuster using their experience, training, education and common sense. The accident was discussed between the adjuster and the attorney. An offer was usually made that was three times the specials (the total of medical bills and lost wages).

In the late 1980's to early 1990's the insurance industry retained a consulting firm by the name of the McKinsey Corporation, to review the claims evaluation and payment procedure. The three major insurance companies all developed separate computer programs with the purpose of making their claims department more profitable. Around this time a small technology firm in Australia created a computer program called COLOSSUS.

The insurance industry purchased the program and has used it in the payment of claims, to reduce the amount paid on claims and to increase profits. McKinsey approved of this and was retained by each insurance company to set the values of COLOSSUS, which ultimately determines the value of the offers made on automobile accident cases.

More than 50% of the insurance industry uses COLOSSUS to evaluate automobile accident claims. COLOSSUS gives less credibility to the so called soft tissue claims or non-demonstrable injuries. There is a bias toward these injuries being faked or considered malingering. This is because of the subjective nature of these complaints. A demonstrable injury, like a broken arm, is deemed more credible by the program. The information the program considers is determined by the insurance company. Not me. Not you.

Most insurance companies are using programs similar to COLOSSUS as well as COLOSSUS as a means to determine the value on claims made by auto accident victims. The days of meeting with an adjuster and discussing a claim and coming up with a fair settlement value are over. Computer programs are used to make the value of the claims lower and equal across the board. These computer programs have over 10,000 potential entries for any single case. These entries include doctors, treatments, diagnosis, employment and medications. The list goes on. They look at personal information. They even look at the geographic area where the case would go to trial. The reason they look at the area is that some counties in Kentucky have histories of giving bigger awards than others. Your settlement will be affected by this.

Each insurance company has its own protocol for the information that is entered into the COLOSSUS program by the insurance adjuster. The attorney must assist COLOSSUS in reaching an adequate assessment of the claim by providing as much data or information as possible to the insurance adjuster. That is another reason why it is vital your attorney has all the facts and details available on your case. This will help increase the odds of you achieving a fair and reasonable settlement.