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Data Analytics
Data Analytics
Applying data analysis to insurance decision making can increase efficiency and performance and ultimately lower costs. But to be successful, you need the right partner.
Rose & Kiernan provides a comprehensive suite of data analytics designed to gauge the performance of your program against real-time industry information.
We leverage our extensive experience and industry-leading actuarial software to provide you with a clear insight on the performance of your program. We conduct:
- Reserve analysis
- Loss trending & development
- Projections of Future Expected Losses
- Claim Correlations
- Claim Lag Time Analysis
- Pharmacy (Rx) Benchmarking
- Payroll Based Claim Cost Analysis
- Retention selection
This approach can help you optimize behavioral, operational, and even financial outcomes. And while data should not replace common sense and the benefit of human experience, it can be an invaluable business tool when implemented wisely.