The Power of Predictive Models in Workers’ Compensation Claims Handling

Adjusting workers’ compensation claims is part-art and part-science, which can produce mixed results for carriers, adjusters and employers over time.

Structured data capture is often limited and crucially enhanced by the loss adjuster’s individual case notes and professional experience. In many cases, this combination sees potentially costly and complicated claims fall through the gaps and can end up costing employers and carriers more than they should.

Download PDF: Webinar Slides

On Tuesday November 3, Advisen hosted a webinar and released a white paper that addressed how the creation and correct application of predictive models in workers’ compensation claims adjusting can help to catch patterns and trends in claims data and identify potentially serious claims before they get out of hand.

This free, one-hour webinar and the associated paper are both sponsored by ACE.

Panelists

The following panelists participated in the webinar:

• Rebecca Bole, Senior Vice President, Advisen (moderator)
• Keith Higdon, Vice President, Claims Data Analytics, ACE Group
• Frank Murray, Senior Vice President, Claims, ACE ESIS
• Frank Ciurlino, Director of Claims Administration, Bimbo Bakeries

Webinar Topics

Topics discussed:

• Why build a model? What’s the business case?
• What data is out there and how easy is it to capture?
• How do you get people to believe in a model and apply its recommendations?
• Case studies will show real results in the Worker’s Compensation sector