Schaefer City Technologies Launches with First Software Product to Help Insurers Identify, Manage, and Reduce Nuclear Verdicts®
March 29 2023 - 9:30AM
Business Wire
New Insurtech Start-up Created by Author of “The Book” on
Nuclear Verdicts® and Longtime Insurance Executive
As Nuclear Verdicts® – jury verdicts of $10 million or more –
continue to increase in size and frequency around the country, a
new insurtech start-up has launched with its first software product
designed to help insurance companies identify which claims have the
potential to “go nuclear.”
Schaefer City Technologies LLC is an insurtech company dedicated
to helping insurance companies and their defense counsel spot and
defend against Nuclear Verdicts®. Its innovative software solution,
NaVel™ (short for “Nuclear Verdict Exposure Likelihood”), features
patent-pending machine learning technology that embeds into
existing insurance software and uses predictive analytics based on
the key traits of more than 10 million data points analyzed in
tens-of-thousands of cases that resulted in Nuclear Verdicts®.
NaVel™ matches those traits to the insurance claim file to
determine the likelihood of a Nuclear Verdict®. NaVel™ does not
require data input from claims professionals and stores no claims
data itself.
Founded by a group of leading litigation defense and insurance
operations experts, the Schaefer City Tech team includes Chief
Business Development Officer Robert F. Tyson, Jr. and experienced
insurance executive Denise M. Tyson, CEO, along with experienced
civil defense litigator Patrick J. Mendes as Chief Legal Strategy
Officer. Robert Tyson is a long-time trial attorney and author of
the #1 best-selling book, “Nuclear Verdicts®: Defending Justice for
All,” the first-ever book written for the defense on how to limit
exposure at trial.
“The #1 question we’ve received from thousands of insurance
professionals in the last three years is, ‘How do I spot a Nuclear
Verdict® on my desk before it happens?’ With Schaefer City Tech, we
have developed the early-warning system to help insurance companies
save billions of dollars,” said Robert Tyson. “Whether NaVel™ finds
a claim to have a high risk or a low risk of a Nuclear Verdict®,
the claims professional can have a well-informed discussion with
their internal management and outside defense counsel on what
strategies to pursue. With insurance carriers having millions of
claims on file, using NaVel™ could save them billions of dollars
each year on settlements, trial verdicts, and litigation
costs.”
The prototype for NaVel™’s proprietary algorithm was developed
in partnership with Villanova University School of Business and its
Professor, Nathan Coates, who focuses on data analytics and the
application of machine learning to business problems.
For more information or to request a demo, visit
schaefercitytech.com.
About Schaefer City Technologies
Schaefer City Technologies is an innovative insurtech company
that delivers software solutions that help insurance companies and
their defense counsel spot and defend against Nuclear Verdicts®.
Its first product, NaVel™, is applied to existing claims systems
automatically as claims professionals work their file – from First
Notice of Loss to Litigation – detecting the potential threat of a
Nuclear Verdict® and providing a prediction score, which adjusts
throughout the life of a claim as new information is added to the
file. For more information or to request a demo, visit
schaefercitytech.com.
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Ashley Bendas / Jean Walcher, J. Walcher Communications
ashley@jwalcher.com / jean@jwalcher.com, 619-295-7140