Control Costs and Increase Efficiency With P&C Claims Predictive Models

• Overview
• Agenda
• Faculty
• Credits

Nearly every P&C insurance company has a latent 6 to 8 loss ratio point improvement available to them through better claims handling with predictive models. Up until recently, insurance companies have focused the vast majority of their analytics horsepower on the front end of the insurance equation - underwriting predictive models. However, with the soft market continuing to adversely impact financial results, companies are beginning to leverage analytics to help address the 70 to 80 cents of every premium dollar that gets spent on claims. This live audio conference will discuss how companies leverage advanced analytics, internal company data, external third-party databases and 'homemade' synthetic data to help claims adjusters take preventative actions earlier in the lifecycle of a claim. From first notice of loss and resource assignment, to the identification of potentially fraudulent claim activities, models are clearly changing the claims handling world. This presentation will help the audience understand the analytics evolution, provide an introduction to how predictive models, particularly claims models, are constructed and how they work, and discuss how organizations should develop and leverage first notice of loss and 'through time' claims predictive models to identify the right claim channeled to the right resource at the right time.

Faculty

Kevin Bingham, ACAS, MAAA, Deloitte & Touche USA LLP
John Lucker, Deloitte & Touche USA LLP

Registration

To register for this live audio conference please dial 1-866-411-6211.