Analytics and Predictive Modeling
In a continuous flow of data |
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You may be able to identify some patterns with basic reporting and analysis |
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ClaimFocus concentrates probable claims with specific behaviors to help you predict outcomes, prioritize reviews, and drive real-time decisions |
Both analytics and predictive modeling can have a meaningful impact for claims in the areas of fraud management, salvage, reserving and subrogation. Analytics is a core component gaining traction in Claims because of the ability to utilize data detailing past performance to augment the claims process where decisions to pay, deny, or mitigate the claim must be made rapidly, in high volumes, and under changing conditions.
ChoicePoint®'s ClaimFocus Suite of analytic solutions, built upon the ChoicePoint Claims Analytics Platform, give you the ability to utilize your vast data resources and experiences and apply them to existing claims in order to identify potential issues through common attributes. Applying these resources can, in effect, help reduce costs.
ChoicePoint prides itself on working step by step with our customers using our analytic solutions, which allow them to imbed intelligence into operational systems and processes in order to not only gain insights into past performance, but to gain the ability to predict future behavior.
Our ClaimFocus Solution Suite allows your organization to optimize your operations in order to utilize resources where they have the most impact while enabling straight through processing for meritorious claims. The ability to fast track and quickly pay valid claims is becoming a key customer satisfaction differentiator. Numerous studies have found that many consumers make the decision to stay with their existing carrier or seek a new policy after their first claims interaction.
Benefits of the ClaimFocus Solution Suite include:
- Reducing claims losses
- Lowering operational costs
- Improving operational efficiencies
- Enhancing customer service
ChoicePoint's ClaimFocus Solution Suite has numerous highly effective components that can be utilized independently or configured to meet your organizations needs. To learn more about the individual components featured in the ClaimFocus Solution Suite, please click on the component names listed below.
FraudFocus™
SubroFocus®
FraudFocus INTERCEPT®
Identity Matching Manager™
FraudFocus Investigative Management Services
Link Analysis and Visualization
Geo-Location
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