The weight that is given to the Colossus output also varies from adjuster to adjuster. While most use Colossus as an evaluation tool, other companies, such as Allstate, use it almost exclusively when determining settlement value.
Insurance companies licensed to use Colossus include: In order to use Colossus, an insurance company must first purchase a license. What Insurance Companies Use Colossus to Evaluate Claims? The ultimate purpose of Colossus is to minimize the exposure of insurance companies and enable them to reduce the amount they pay out to settle auto accident claims. Colossus is a specialized program sold to insurance companies to “ensure an objective valuation and consistency” when assessing damages for personal injury claims. Now a subsidiary of Computer Sciences Corporation, Continuum is one of the largest computer service corporations in America. Colossus was developed and licensed by The Continuum Company. Colossus Claims Adjusting Software is a computer program that is used by auto insurance companies to analyze claims made against insurance companies and project a case value range to assist insurance adjusters in analyzing claims for the purpose of settlement negotiations.