Predictive Analytics Solution for Workers Compensation Claims Now Includes Continuous Scoring, Claim Severity Indicators, and Dashboard Updates
NORTH READING, Mass., November 4, 2015 — ISO Claims Partners has announced Version 2.0 of its predictive analytics solution for workers compensation claims, WC Navigator™. ISO Claims Partners is a Verisk Analytics (Nasdaq:VRSK) business.
WC Navigator enables a company to identify potentially volatile workers compensation claims earlier in the claims-handling cycle. Early identification of high-severity claims allows users to tailor their claims process to better allocate the right resources throughout the claims process to help improve claims outcomes.
New features and benefits of Version 2.0 include:
- Continuous Scoring: Predicted claim severity can change as claim data evolves over time. Claim severity will now be scored daily throughout the life of the claim. This provides the most current and accurate outlook on where the claim will ultimately end up, using current data.
- Claim Severity Indicators: WC Navigator will now provide insight beyond the ultimate claim severity score. It will also provide indicators of why a claim carries a particular score. Users can now gain greater understanding of the driving forces behind a claim’s value and tailor their action plan accordingly.
- Dashboard Updates: While the WC Navigator dashboard is customizable, it has now been updated with the most common requests from product users. It now provides greater insight into severity trends and greater querying ability.
- Model Refresh: WC Navigator is continually updated with current claims data. As the only workers compensation claims predictive solution to incorporate industry data, updating the scoring model is an essential part of keeping on top of current claim severity drivers.
ISO Claims Partners will be at the National Workers’ Compensation and Disability Conference in Las Vegas, November 11 to 13, 2015. To find out more about WC Navigator or ISO Claims Partners at the conference, contact Randall Day, vice president of Business Strategy, at firstname.lastname@example.org or 1-978-825-8210.
About ISO Claims Partners
ISO Claims Partners is a leader in applying data, analytics, and technology to property/casualty claims. ISO Claims Partners is a trusted consultant and provider of exceptional professional services to the largest insurance companies, third-party administrators, and self-insured Fortune 1000 companies in the world. Its unique approach provides customers an opportunity to improve claims outcomes through data, analytics, legal, medical, and technical expertise. A Verisk Analytics (Nasdaq:VRSK) business, ISO Claims Partners is headquartered in North Reading, Massachusetts, and has offices throughout North America. For more information about ISO Claims Partners, visit www.verisk.com/claimspartners or call 1-866-630-2772.
Giuseppe Barone/Colleen Finley
MWW Group (for Verisk Insurance Solutions)