Harnessing the benefit of PREDiCT’s data driven insights
Across the broad sphere of large loss cases, overall damages in amputation cases often sit at the higher end of the spectrum. But is it the case that a higher damages award automatically correlates with a longer claim lifecycle? In short, no. Analysis of our data reveals that across all injury types, amputation cases have the shortest period between accident date and settlement being reached. For all amputation cases in our large loss dataset, the average was 1089 days (just under 3 years). Compared to all other injury types, amputation cases also saw the shortest average period between the date of accident and Weightmans being instructed by our insurer clients, at 299 days.
The benefits of achieving early settlement are clear. In particular for amputation cases, there is the potential to avoid the cost of multi-disciplinary medico legal evidence and associated significant legal costs. Our data reveals that the average monthly claimant solicitor burn rate (claimant costs and disbursements) for amputation cases is currently £6,729.
There is also the potential to avoid the uncertainty of the inflationary factors which we have seen over the last few years and whilst claims inflation has cooled recently from the sharp increases previously seen, cost inflation and uncertainty remain.
Although no two amputees’ needs are exactly the same, there is some predictability around damages, especially if there are no other serious injuries. This can provide evidential clarity with the injury being medically objective and comparatively stable.
As evidenced from our data, our instruction often comes early, enabling us to facilitate targeted specialist rehabilitation with good prosthetist input from the start of the claim. Claimant recovery and early access to the best prosthetic for them can be accelerated. With this comes a more favourable outcome, increased independence, better mental health and, often, a return to work. Coupled with a collaborative working relationship with the claimant’s legal team we can take proactive steps to achieve the best outcome for the claimant and conclude claims on reasonable terms as swiftly as possible.
Of course there will be outlier cases, such as those involving children or where there are multiple injuries, including cases of bilateral limb loss. These cases are more complex and early settlement may not be possible. Alternatively, in cases involving the oldest cohort of claimants, certain issues or heads of loss may be more limited, giving increased prospects of early settlement.
However, for many amputation claims the experience of our handlers, together with support from PREDiCT’s data driven insights, can inform early reasonable offers as well as providing optimal and accurate reserve recommendations to our clients.
Adopting early settlement strategies reflecting the “irreducible minimum” value of certain aspects of these claims means that we can work quickly to assess quantum once the claimant’s recovery is well underway. In some cases, due to some of the factors detailed above, settlement can be achieved without medico-legal evidence, even in cases where initial valuations between the parties are far apart. By way of example, we recently concluded an adult lower limb amputation matter less than 3 months following resolution of liability with the claimant and co-defendants without commissioning medical evidence. Especially when contributory negligence is in play, there are opportunities to conclude claims at an early stage.
Our data shows that amputation cases have the lowest average claim lifecycle across all injury cohorts in our large loss database. Through early instruction of our expert handlers, supportive rehabilitative intervention and proactive collaboration, harnessing the benefit of PREDiCT’s data driven insights, we expect this trend to continue.
