Insurance Networking

[> Vivek]

All of us know about the analytics in use for Fraud detection in the Claims space.
Can anyone provide some insight into what are the other areas (like Reserving, Litigation mgmt etc) in a Claim lifecycle which can benefit from the use of Analytics ?

Also request how are the other areas in a Claim lifecycle benefitted by the usage of Analytics

Warm Regards,
Vivekanand

[> sethm]

Here are the other benefits of claims analytics:

-Uncover trends within your claims data
-Improve the accuracy of claim handling and the fairness of indemnity payouts
-Create strategies that will enable you to outperform your competitors

Hope they help!