The fourth dimension is outcomes. “Whether you are a corporate, carrier, MGA, or MGU, it is about the loss cost or loss pick that you are paying,” he said. The economics of claims make this category particularly important. “Often it is a 10-to-1 ratio,” Raedeke said. “For every million dollars in fees, you might have $10 million of loss costs.” Analytics and AI that influence claim outcomes can therefore generate the most significant financial impact.
How Crawford & Company’s Broadspire aligns technology and AI to client outcomes
By Awais
