Milliman and Riskonnect have partnered up to bring predictive analytics to the self-insured industry, the two software providers announced.
Milliman’s predictive analytics is set to improve the management of claim outcomes for self insurers and speed up the detection of high cost claims by finding smaller ones likely to increase. The software also focuses resources on high-cost claims while providing a one to 100 score for each. Results are then intergrated into Riskconnect, a tech platform provider for the risk management industry, allowing easy access for claims professionals.
“Client after self-insured client has requested the ability to easily identify which new claims will blow up,” said Milliman consultant Mike Paczolt, in a statement. “As scoring is received daily, real-time strategies can be developed to intervene in future high-cost claims. By integrating predictive analytics into Riskonnect’s award winning platform, we can provide a truly innovative, comprehensive solution to the industry.”
