The claims adjuster then enters three offers and confirms each entry. Cybersettle uses a special formula to determine if an offer is close enough to a demand to trigger a settlement. If the demand is less than the offer, the claim is settled for the amount of the demand. If the offer and the demand are not within the settlement formula, the claim is not settled. This formula can be changed, though each party must agree beforehand on any modification.
Settlements are binding, and include all legal fees.
Thus, the insurer never pays an amount it has not agreed to. At this point, the cybersettle software gets to work. It compares the insurer s first offer to the claimant s first demand and determines if a settlement results. If it does, the plaintiff s attorney takes the contact information and settlement figure and draws up a release, which is then sent to the insurance company. If no settlement results, cybersettle moves to the next round, comparing the insurer s second offer to the claimant s second demand.