Not all P&C insurance claims are created equal. Some can be adjudicated in a matter of minutes while others may take years to resolve. Others may have subrogation potential that require quick action and coordination with other parties to ensure the appropriate investigation is performed. Ultimately, the resources deployed by carriers to effectively handle claims should vary given some of these known differences and the associated level of experience required. The utilization of Paragon’s Claim Scoring Service allows a carrier to move away from a one size fits all approach to a more dynamic claims handling practice.
Paragon’s predictive modeling capabilities and integration tools offered through its Claim Scoring Service provides the means to apply the right resources at the right time. Paragon initiates the service by developing customized predictive models directly from the client’s historical data to solve your claim administration challenges. Paragon also provides the appropriate tools and reports to integrate the modeling results directly into existing claim processes and platforms.
This streamlined approach provides clients with the following benefits:
- Increased customer service due to a decrease in claim handling cycle times
- Reduction in claim adjusting costs by allocating the appropriate resources
- Maximization of recovery results by mitigating subrogation leakage