Daily Archives: August 15, 2020

by in Insurance Industry

Claims Subrogation Analytics

Leading US Health Insurance Company Problem Statement Annual revenue leakage because of subrogation non-recovery: ~ $79.2 MN Subrogation recovery rate: 4 % Business objective was to analyze closed subrogation cases and identify case segments having high propensity of recovery, so that focused attempt can be made to recover them Analytics Led Approach Given are high […]

by in Insurance Industry

Return to Work Prediction

Leading Life & Disability insurance company in the US Problem Statement Inadequate system to predict accurately the length of disability for a complicated injury or illness because of which the employer is not able to provide a more adequate replacement resource for the job duties Analytics Led Approach Predictive analytical model using Neural Networks to […]

by in Insurance Industry

STD – to – LTD claims conversion prediction

Leading USA based Life & Disability insurance company Problem Statement Most of the short-term disability claims are getting converted to long term disability claims which leads to inappropriate reserving No system to predict the short-term disability claims getting converted to long term disability claims in advance Analytics Led Approach Given are high level process steps […]

by in Insurance Industry

Claims Fraud Detection

Leading Global P&C Insurance Company Problem Statement Customers’ current SIU was geared towards proactively identifying and detecting claimant related frauds. Fraud related to medical provider were proving to be difficult to identify and work upon Customer had to rely on referrals from regulatory and industry bodies to identify suspect cases and wanted to explore ways […]

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