Data Analytics

The seemingly unlimited potential to identify analytics applications, combined with recent M&A activity, creates openings for new market leaders.

Who will take the first step forward in offering a new model? If the traditional providers don’t, then companies outside our industry will. 

Accurate and complete data is the only practical way to advance to the next levels of medical management and cost control. Management--not the IT department--must ensure data quality.

Predictive analytics is the tool that will help risk managers make better claim reduction decisions and produce actionable items with real cost savings now and in the future.  |

Most insurers are challenged by how to find, access, and use geographic information to improve decision-making, operations, and customer service. One potential solution is emerging through the use of three groups of technologies – social media, location intelligence, and mobility.

The data miner role is no longer the only one to use predictive analytics in the insurance industry; a new role of data scientist is emerging.

This article explores the benefits, limitations, and various methods available to Construction Financial Managers as they benchmark their companies' claim and loss data, using both internal and external sources.

Data can offer a clear picture of actual provider performance. Evaluating physician and other provider performance is a matter of scrutinizing the data using industry research to learn what to look for. In fact, leveraging published industry research is the way to skip the laborious and expensive regression analyses and other predictive modeling methods.