UK-based mediation and dispute resolution services provider, Expedite Resolution has launched a new service that it claims could bring a flexible and cost effective approach to claims settlement.
The new solution will provide mediation and dispute resolution as a possible route to help reduce life cycles of claims, and early closure, with subsequent reduction in costs both direct and indirect.
With a panel of twelve independent, specialist mediators and arbitrators, the company confirmed it would be targeting a range of audiences including brokers with claims handling authority to bring its service to claimants, policyholders, insurers, reinsurers, brokers, adjusters and their lawyers.
Expedite Resolution founder Maurice Nichols said early settlements reduce exposure to risk, delivers a reduction in legal fees and frees up valuable claims resources.
"Unfortunately all too often, mediation services are introduced too late in the claim life cycle – when negotiations have irretrievably broken down, the attitude of the parties has hardened and expensive litigation remains the only option," Nichols added.
Nichols claims that the experience of panel members will help them to advise on the right cases to mediate, the right point of the claim life cycle to introduce it, which type of mediation skills are required and the right format for the mediation to facilitate cost effective settlement for the parties.