How to Win Big With Predictive Claims Analytics: Six Steps for Insurance Executives

The implementation of predictive analytics is simple and valuable, and it is key to the transformation of claims and legal expenses into valuable assets for insurance companies.

Executive Summary

Talk of insurance innovation can be overwhelming for insurance company executives. If you break down this innovation into three opportunities, however, you'll find that the goal of innovation is much more attainable, according to CaseGlide Founder Wesley Todd. In the third part of a three-part series, Todd describes four types of analytics and outlines a six-step process for using one of them—predictive analytics—to transform claims and expenses into valuable assets. The full article, "The Three Ways Technology Can Transform Claims and Legal Expenses Into Valuable Assets," will be published in the next edition of Carrier Management magazine.

In the third part of a three-part series, Todd describes four types of analytics and outlines a six-step process for using one of them—predictive analytics—to transform claims and expenses into valuable assets.

The full article, “The Three Ways Technology Can Transform Claims and Legal Expenses Into Valuable Assets,” will be published in the next edition of Carrier Management magazine.

Once you implement predictive analytics in your claims and legal departments, you will experience financial and operational benefits, such as improved underwriting, expense mitigation and indemnity reductions.