ISO’s roster of prestigious award nominations continues unabated with a nomination for Innovation of the Year at this year’s Modern Law Awards. ISO’s flagship insurance analytics solution Case In Point was the reason for the short-listing.
Part of the ISO Claims Outcome Advisor® (COA™) suite of products, Case in Point is an additional quantum assessment tool (QAT) component that combines data and analytics to accurately assess litigation risk relating to alternative offers for personal injury claims that have similar injury severities and settlement outcomes. Case in Point recently triumphed in the Insurance Times TechAwards 2015, where it took home the title of Claims Technology Initiative of the Year.
LV=, a long-standing ISO customer, provided the metrics of its successful first year of Case in Point adoption to the nomination, detailing quantifiable reductions in avoidable litigation and total payout spend.
Case in Point provides those benefits by delivering an array of powerful data analytics, including previous litigation history and settlement patterns to claim handlers, driving a reduction in over- and underpayment of settlements to improve insurers’ bottom line.
The awards ceremony will take place in London on November 19, where we hope to scoop another well-deserved award for this cutting-edge ISO solution.