WAKEFIELD, MA – (May 22, 2018) DAVID Corporation, a California-based insurance software company, is pleased to announce the new NAVRISK VISION Predictive Analytics & Risk Scoring technology built into the new claims release due out in Fall 2018. Current clients may begin scheduling now for installation, and new clients can expect availability in October 2018.
“The new program allows for scoring individual claims using client-specific data with multivariate factors and algorithms. These combined technologies make claim specific recommendations and show score reason logic to improve predictive analysis of claims reserves for open claims and route claims to adjusters or supervisors based on profile and workload balance. The result is a more balanced workload and reserve profile across the organization.” Said Michael Hamann, Vice President of Development.
The system can also take into account up to 7 categories to build adjuster profiles. The profiles can determine who is best suited to handle an inbound claim. Managers can override these features, but the automation represents a massive shift in the caliber of intelligence built into the system. For example, the solution can look at prior success, job experience, and education to determine which adjuster is most competent to handle a high-risk claim. The first stage of the Predictive Analytics scores the claim, the next stage scores the adjuster, matching the most skilled with the highest risk.
“A lot has changed with multivariate factor weighing in a tracked database. We think these enhancements are a game-changer for organizations looking to improve outcomes and better control the total cost of risk. DAVID Corporation is driven to provide the most AI, and Predictive Analytics has to offer our clients, we have built the software in-house to match our dedication to the NAVRISK VISION platform as the total solution for risk and claims.” Said Mark E. Dorn, President & CEO.
DAVID Corporation specializes in risk, claims, and policy management solutions for the alternative risk market. We serve brokers, insurance carriers, risk pools, third party administrators (TPAs), self-insured companies and other organizations managing property and casualty risk. Founded in 1985, for more than three decades we help organizations run their operations more efficiently and better manage their total cost of risk outcomes.
NAVRISK VISION Suite is a cloud-based risk, claim and policy management solution that leading insurance professionals use to reduce costs, improve productivity, and meet compliance requirements, by leveraging a powerful risk performance optimization platform.
Learn more at www.davidcorp.com