CLAIMS PORTFOLIO MANAGEMENT DASHBOARD
Leverage Natural Language Processing (NLP) -based insights to review and manage your claims portfolio
Access a single-pane view of all your past & ongoing claims, gauge the health of the claim portfolio, enhance loss triangles, reserve patterns and trends, and many other proprietary key performance indicators (KPIs) with Charlee’s portfolio management solution.
Oversee your entire claims portfolio with one click using Charlee®. The combination of aggregated patterns leads to understanding trends, consolidated learnings, insights, customized Key Performance Indicators (KPIs), operational inefficiencies, regulatory inconsistencies, and non-compliance helping identify high-cost claim patterns that will improve the profitability of a line of business. In addition, Charlee® monitors the pulse of your claims’ health – annual trends, reserves management, risk assessments – to guide you in making critical decisions that benefit your business. Charlee portfolio management solution provides the following for single or multiple lines of business:
- Claim operations metrics
- Claim financials correlated with tagged pre-trained topics
- Claim reserve patterns and trends
- Claims prediction metrics
- Emerging risks, loss triangles, and historical trends
Insurance Lines Supported by Charlee: Personal Auto, Homeowners, Commercial Auto, Commercial Property, General Liability, and Cyber
Are you buying a run-off business, acquiring another portfolio, assessing your current portfolio, or losing portfolio transfers (LPTs)?
Your company’s claims portfolio comprises a mix of closed and open claims. Charlee’s portfolio management dashboard gives you a birds-eye-view of the portfolio’s health. For instance, reserves, litigation, high severity/suspected fraud/bad faith, and non-compliant and operational metrics will help you make better decisions. You can leverage these metrics on an ongoing basis to enforce process efficiencies, manage IBNR, mitigate litigation and severity and stay compliant. Understanding the health of your portfolio can help you take action, change business processes and stay compliant!
Historical Trends and Emerging Risks
Do you know that some of your claims are leaking money? All because they lack context and do not consider the risk insights that differentiate claims with varying severity but similar risk patterns! Mapping historical data-based pre-trained tags/topics with KPIs can help derive trends and patterns across timelines, entities, and locations while adding context and explanations to predictions. Gain overall analysis of the portfolio – based on litigation, severity, non-compliance and reserves, trends, and patterns – for run-off or profitability or claims business process re-engineering. Emerging risks on open claims can be predicted and are actionable immediately.
Enhance Your Loss Triangle
Assess yearly consolidated information from unstructured data across different lines of business, compare them across claim payouts/expenses, and deep dive into loss triangles based on specific filter conditions – claims topic or line of business.
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Litigation & Severity Trends Patterns
Analyze litigation patterns and trends for any given line or jurisdiction within your claim’s portfolio. Our pretrained insights can sift through multiple customers and millions of claims, using NLP-based algorithms and customized KPIs for any line of business or jurisdiction within your claim’s portfolio.
Rapid Deployment and Implementation
Semantic tagging, the ability to extract tags, patterns, and trends prediction upon assessing millions of claims across different customers, gives Charlee® more than 85% accuracy in our intuitive predictive algorithms. When quickly deployed for new customers, Charlee® enables them to leverage the platform’s artificial intelligence-based insights, trends, and predictions starting at the first notice of loss through the claim’s life cycle.
