Reduce Risk By Uncovering Actionable Data in Claims
Actionable information about your claims is required to make critical decisions about resource allocation and new service offerings and to improve overall performance. For example, in a certain area of the country, at what point is there too much risk to write a policy?
This requires serious data you can analyze. Data about claims, area-specific weather events and the geographic locations of losses.
Visually Interpret Your Claims Data, Based on Facts
So what do you want to know about your claims? You decide what information you require to make better business decisions, then ask us the questions, and we can unlock your claims data. We have the key. We’ve discovered a way to get incredible information out, in a visual format for you to interpret.
Introducing Wardlaw’s New Service, Risk Point Analytics: An interactive visual analytics tool featuring a layered data modeling platform giving Risk Managers, Claim Directors, CEOs, and COO’s actionable information derived from claims. Allowing them to gain fast and accurate insight to help solve complex business problems, react quickly to market trends, improve financial exposure and drive change.
Your company needs to reduce their high high risk policy base and invest marketing money in more suitable markets. But where are these high risk markets and more importantly where is the best opportunity to gain a lower risk market share?
Risk Point Analytics can help you identify these opportunities. With our policy and severity mapping you can quickly identify high concentrations of high value claims and, with similar ease, identify the areas that are trending lower and yet still have significant opportunity within the market. Teams of risk managers are no longer required to verify: instead a few clicks and you have the information at your finger tips.
With Risk Point Analytics you can look at your policy density across a given market and overlay your targets with historic claims severity. Risk Point Analytics won’t answer your question per se, but instead provide you with the actionable information you need to come to the correct conclusion.
Benefit to Risk Managers: Correlate weather to claims activity based on historical geographic patterns of both weather and specific claims (drill down to dollar level of claims, dates claims were filed, etc).
In addition to applying historical weather, claim information (gross loss, cause of loss, claim supplements, number of days from date of loss to claim assignment) can be isolated.
Customer-centricity is the first priority of all top-level carriers. That is why claims analysis is no longer optional. What was considered leading-edge or “too” innovative is now becoming baseline capabilities or standard operating procedures.
We’re interested in what you need Risk Point Analytics to help you uncover. So we’re listening.
Learn More About RiskPoint Analytics
To learn more, call us at 800.217.0901