Crystal & Company has launched an analytical tool intended to help clients focus their loss control efforts for maximum impact.
The predictive modeling tool allows risk managers to predict which individual claims have a higher likelihood of exceeding a particular dollar threshold, the New York-based brokerage announced in a statement Monday.
The product can forecast which claims will be excessive so they can be reviewed, managed and closed effectively, according to the statement.
“Our new workers' compensation analytics tool helps risk managers focus on identifying exactly when, where and how claims are occurring,” Jamie Crystal, executive vice president of Crystal & Company, said in the statement. “This information empowers our clients to direct their loss control efforts where they're most needed, resulting in a lower total cost of risk, and potentially, reducing future claims from happening.”