BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Claims analytics help plug adjuster talent gap


Sophisticated analytics are making up for some of the talent drain in the claims management profession.

Experienced adjusters were leaving their positions even before the COVID-19 pandemic, a trend that has accelerated as claims professionals — like many in other occupations — have decided to make career changes, said Adam Wesson, Reading, Massachusetts-based director of claims solutions at Verisk Analytics Inc.’s ISO Claims Partners. 

“One of the ways to overcome that is by leveraging data,” Mr. Wesson said. Predictive analytics are more important than ever in managing claims when experienced handlers are scarce and claims costs are rising, he said. 

“Using objective data helps prevent claims from falling through the cracks,” he said. Inexperienced adjusters might not identify the potential severity of a claim that a model would alert them to address, Mr. Wesson said.

Skip Brechtel, executive vice president and chief information officer at Cannon Cochran Management Services Inc. in Metairie, Louisiana, said its analytics tool helps train new hires. “It can help identify early on if they are having problems with reserving or analyzing a claim. It’s been very beneficial from that perspective,” he said.

“It becomes part of the teaching for younger adjusters,” Mr. Brechtel said. “They may have missed something, and artificial intelligence caught it. It helps build that knowledge and make them a better adjuster.”






Read Next

  • High-stakes cyber claims demand quick action

    The biggest difference between handling cyber claims and more traditional property/casualty claims is the speed with which the process unfolds, which demands an immediate, coordinated response by the policyholder, insurer and broker, observers say.