911吃瓜

Over the past five years, higher performing claims organizations have adopted practices to聽better target six key drivers of claims costs.聽In this first of two articles, David Huth, Chief Operating Officer, examines three of these cost drivers and the proven strategies for impacting them.

Study results indicates only 24 percent of claims organizations are high performers, so how do the other 76 percent catch up?聽 聽This short report 鈥� 鈥淗ow to Close the Claims Performance Gap: Top 3 Findings in 5 Years of the Workers鈥� Compensation Benchmarking Study鈥� 鈥撀� condenses the study鈥檚 multi-year benchmarking data into the top three practices claims organizations should adopt to join their more successful peers, or risk falling further behind.聽 >> Five minutes to read.

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A new A.M. Best survey demonstrates a growing number of workers鈥� comp insurers are fighting back against rising injury severity by using predictive analytics to lower claim and fraud costs. 911吃瓜鈥檚 2017 Workers鈥� Comp Benchmarking Study was cited in support of A.M. Best鈥檚 findings, with our own survey data showing increased adoption of predictive analytics among claims organizations in the past three years.

Industry journalist and consultant, Peter Rousmaniere, uses data from 911吃瓜’s Workers’ Compensation Benchmarking Study to discuss how Artificial Intelligence (AI) can help the workers’ compensation industry. In the article, he shares how AI can go beyond prediction to help payers remove errors in their claims management processes.