Those who found their Shores of Success …

P&C Underwriting

Identified risks underwriters were excluding from pricing by analyzing underwriting files and associated claim files. Net result was ~12% increase in premium on analyzed accounts.

P&C Claims

Identified excessive work comp claim activity on accounts receiving significant credits for effective risk management programs. Result was 17% increase in premium on analyzed accounts.

Policy Administration

Analyzed 2,800 policy forms and summarized all contract provisions that governed level of benefit payments. Result was over 20% improvement on benefit payments.

MGA Business

Analyzed all claim activity to determine the medical procedures most frequently associated with bad outcomes and runaway claims costs.

Financial Services Company

Analyzed work comp claims to identify all of the ways repetitive motion claims originated over a historical 7 year period. From this information, established the specific repetitive motion claims that required greater claim expertise to lower both medical and indemnity payments.

Trucking Company

From review of all claims, identified the specific work sequences that were causing shoulder injuries that were 33% more expensive than all other shoulder injuries. Result was the corresponding reduction in claim costs.

Construction Account

Analyzed ~7,000 accounts to identify the specific accounts that were classified inconsistent with the risk profile provided in the underwriter’s written narrative. These accounts needed to be targeted for rate increases. The underwriters most frequently associated with under-priced accounts were also identified.

Retail Work Comp

Analyzed all claim activity for a particular class code to determine those insureds that had the highest risk profiles. From this, specific accounts were identified for immediate rate increases.

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