OUR APPROACH

We harness the insurance industry’s diverse data to build its most effective guidance systems.

Our products combine both structured and unstructured claim data with external third party data to unlock powerful claim guidance, delivered directly to those who need it.

Ingredient 1: Vast Carrier Claims Data

Claim data forms the foundation of our available datasets.

Structured Data

EvolutionIQ algorithms use the structured data to form a skeleton of a claim – including the basic outline of the incident and a sense of how a claim progressed through a carrier’s process using status updates and other fields. However, the depth of insight on a given claim that structured data offers is limited.

Unstructured Data

Correcting Structured Data and Developing Accurate Time Series of a Claim

Structured fields are often not updated by adjusters as claims progress, so EvolutionIQ analyzes unstructured data to cross-check and correct the structured data over time, creating the most accurate record of your claims available.

Deep Analysis of Unstructured Elements

Just ask an adjuster. The structured fields in most core systems are broad and don’t allow for the nuances of the claim. EvolutionIQ uses unstructured data to drive analysis on concepts not covered in structured data, like more detailed injury information, context and severity trajectory, as well as claimant sentiment and litigation-disposition.

Ingredient 2: Proprietary External Data

External Data expands available insights beyond what claim handlers have access to and drives more accurate, timely claim guidance

External Data

EvolutionIQ’s large descriptive external dataset adds context and visibility around the claim and claimants. This data allows insight generation earlier on in a claim life cycle, and more actionability on all claims.
EXTERNAL DATA CASE STUDY AT LEADING NATIONAL CARRIER

Unreported Business Income

Structured & Unstructured Claims Data

20,884

Total Open Claims Analyzed

External Data

734

Unreported Active Businesses (3.5%)

Registered to claimant and home address

Suspicion Factors

321

High Suspicion Cases

Identified when combined with all other factors prioritized for investigation
Data in action

We deliver dynamic claims guidance to front line professionals.

Value of data is determined by its operational impact. EvolutionIQ links all of its data acquisition and machine learning capabilities to tactical solutions that drive decision making and claim handling for front-line claim professionals.

View Our Solutions

Deployment-Ready Artificial Intelligence for Modernizing your Claims Operation:

Resolution-Ready
Claim Monitoring

Dynamic Claim Guidance
from FNOL to Closure

Like this:

Like Loading...
%d bloggers like this: