Core Business Value:
Casualty Carriers Lurker Claims are 12% of a typical carrier’s inventory, but will drive 70% of their adverse development. Defined by their large unrecognized severity, these claims represent the largest opportunity to impact losses and control cost through more targeted and proactive claims management early in the claim lifecycle.
IQPriority extracts insight from all available data on each claim as it evolves, offering continuous predictive insight on key risk factors from day 1 to closure. Skilled adjusters and managers use IQPriority’s to ensure they never miss a Lurker claim, and their valuable time spent collecting information, negotiating and settling claims is spent on the most impactable claims in the inventory.
Workers Compensation Carriers
Results at Top Carriers:
IQPriority Outperformed Senior Claims Professionals on Severity Recognition in Repeated Blind Trials
2 in 3 Lurker Claims Alerted to Claims Teams and Managers for Prioritized Impact
IQPriority recognized claim severity on average 400 days before claim staff, enabling early action