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Colossus Evaluations

Posted by Redberry 
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Redberry
Colossus Evaluations
January 12, 2012 09:41PM
Dose any one know if Farmers Group use a software system to evaluate personal injurys? Do they us a multipler or just how do they arrive at the low ball settelments. I am told they also may use a program called Colossus

Thanks for any help

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Redman
Re: Colossus Evaluations
January 19, 2012 06:32PM
They have not used Colossus in years.

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Former Farmers Manager
Re: Colossus Evaluations
January 30, 2012 08:43PM
More of an interesting question than you realize. Farmers did use the Colossus software until 5 years ago or so. However, Farmers wrote their own software in partnership with a software start-up. It is designed to provide a "range" for settlement. By range, I mean the CR better hit that range 90ish % of the time. If not, well, I've signed off on plenty of terms for "failure to properly evaluate and support settlement ranges".

Anyone with anything beyond mild discomfort is crazy if they don't use an attorney. I can remember laughing at happy hour over the stories of soft tissue settlements beneath or at the lowest range of settlement.

Interesting part is that the company that wrote Colossus sued Farmers because the software Farmers "created" was suspiciously similar in settlement ranges to the Colossus software...

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