Reduce ALAE and improve claim outcomes
Identify trendlines, high risk claims and litigation likelihoods to inform adjuster decision-making. Reduce ALAE by as much as 10% and move the needle on your combined operating ratio. Improve cost vs. indemnity due to favorable settlement offers made early on in the claim life cycle, flagged by the model.
Compare organizational metrics against state and nation-wide benchmarks, including insight into average panel rates, average % of claims that become litigated, and much more. These benchmarks are built out using millions of data points from countless claims and litigated matters across the U.S.
Get notified whenever a claim’s risk profile changes and proactively predict future developments. Set notification triggers to intervene when conditions are met, with insight into the chance of settlement acceptance, risk of litigation, and more aiding the adjusters with the right information at the right time.
Assign adjusters and other resources intelligently based on capacity and the types of claims (value size and scope) already in their workflow. Track panel firm performance and refer claims to the best firms, measured through objective data such as success rates, coupled with subjective data through scorecards.
$1.2B+ historic savings
10% less incurred ALAE
What can be predicted?
Predict claim likelihoods
Identify high value losses and claims with high risk of becoming litigated, enabling adjusters to intervene early, e.g. through settlements.
Inform better decision-making and improve key claims metrics as a consequence, such as cost vs. indemnity, ALAE and days in litigation.
Claim risk ranking
Identify complex and high value claims. Figure out which claims should be dealt with quickly.
Predict the cost of each claim at the time of closing, and also how much should be reserved.
Large loss detection
Predict which claims will become large losses that pierce into your excess insurance coverage.
Identify opportunities for early settlement, including predicting the amount likely to be accepted.
Predict whether claimant will hire a lawyer, file suit, and if litigation will drive up cost.
Predict if a claim can go through subrogation and how much can be recovered through this.