Claims Predictive Analytics

Reduce loss costs through models and tools that assist with exposure recognition and exposure valuation

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Benefits

Increased early resolution
Lawsuit and claim inventory control and reduction
Adverse reserve development avoidance

Paying the "right" amount on injury claims
LAE reduction
Assign right claim handler
Nuclear verdict avoidance

Quaker Analytics =

25 years of data + predictive analytics

Reserve

Get the reserve right
Injury Claim Resolution

Accelerate early claim resolution strategies
Resources for adjusters

Exposure Valuation Tools including LAE Calculator
Information on plaintiff's lawyers

Paid loss by claim type / Filing tendencies / Historical LAE paid

What We Do

Reports & tools

Immediate reports based
on processed data
Possibility to connect to customers’ claim systems (real-time)
Isolate claimants with higher probability of severity increase
Flag early resolution candidates

Recommend change in: Claim
handler / Management review requency
Identify claimants with probability
of paid loss above defined threshold
Continuous reassessment
Tools to assist claim valuation

What You Get

From the moment of first notice of loss, our models are constantly evaluating your loss data so we can provide immediate notice to you of a change in exposure. You determine to whom this notice should be sent, especially varying levels of Claims management.
What:
Prediction models ping you when it’s time to re-examine a specific claimant
- Weekly prediction reports
  Result: highlighting claims with potentially increased exposure than currently represented by reserve or injury code
  Customer choice: the thresholds and notification hierarchy
What:
Summarized and individual performance metrics, evaluating claim trends, vendor management; virtually any aspect of claim handling
- Reserve Change to Authority
- Surveillance Cost Metrics
- Claimant Exposure Profile for all open bodily injury claimants
- Bodily injury adverse development audit system
- Custom models to fit defense lawyer business strategy
What:
Examine similar closed claimants analysis while considering the specifics of the claimant and any injury escalation that could result to settle claimants smarter and faster
- Similar claimant analysis
  Result: providing simulated median BI values based on customer and/or industry data for benchmarking similar claimant results
- LAE calculator
  Result: speed up claims settlement when considering projected LAE with the settlement value
- Plaintiff’s attorney scorecard
  Result: slick summaries of claim outcomes by colleagues and open claims with the same plaintiff’s attorney/firm including suit filing timing and tendencies, LAE spend based on defending cases with this plaintiff’s lawyer, and good and bad results with them.. Collaborate with colleagues to increase the best results in valuation analysis, settlement strategy and litigation management approach
What: Is your case defensible? Concerns the projected value of the case won't be consistent with the jury award amount?
Result: Use our focus group product to test your evidence in the actual venue in which the case is domiciled and have greater confidence in your ultimate decision.

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