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A workman insurance provider wanted to identify policy holders with higher propensity to apply for claims. Based on the analysis, targeted claims reduction programs were implemented

About Client

Client is the state’s Montana largest workers’ compensation insurance company, protecting approximately 25,000 businesses, organizations, and their workers. Its carrier of choice and industry leader in service. It is committed to the health and economic prosperity of Montana through superior service, leadership, and caring individuals working in an environment of teamwork, creativity, and trust.

Objectives

  • Targeted claims reduction program was planned for medical only and indemnity policies
  • Future claim count range was predicted for each policy holder for different types of injuries within next 3 and 6 months
  • Future claim amount range was predicted for each policy holder for different types of injuries within next 3 and 6 months

Impact

  • The business was able to provision for future with visibility of future claims amount and count
  • Injury level forecasts helped the business to improve on their product specifications
  • The policy holders were targeted with personalized campaigns based on their propensity buckets
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