LexisNexis Claims Solutions and Mitchell International, a solutions provider to property/casualty and auto collision repair industries, announced the forging of a partnership at the 2010 Mitchell Property and Casualty Conference.
The conference, which took place March 8-10 in San Diego, the companies said through the partnership, both will work to address issues with handling auto injury and other costly, “special needs” claims to provide insurers with efficient, cost-effective and innovative solutions.
"In today’s challenging market, property/casualty carriers are looking for every opportunity to improve loss ratios and operational profitability,” said Karlyn Carnahan, a principal at Novarica, an analyst firm, and a keynote speaker at the conference. “Combining predictive analytics with powerful and flexible business process systems has the potential to create tremendous value in this area."
The companies said the goal of combining Mitchell’s medical bill review and decision claims support with LexisNexis’ public records and predictive analytics data is to efficiently anticipate and detect claims severity and potential fraud.
“By blending the strengths of Mitchell and LexisNexis Claims Solutions, we will enhance the claims process with a fundamentally new approach to exposure management,” said Ernie Feirer, VP and GM, LexisNexis Claims Solutions. “Insurers will benefit from increased clarity and insight, enabling them to mitigate costs and improve operational profitability.”
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