Trillium Software, a provider of industry-specific data quality solutions, announces the availability of its new Claims Data Quality solution for property & casualty insurance claims professionals. This offering leverages Trillium's data quality and insurance claims expertise to help insurers automate the assessment, monitoring, and analysis of structured data, as well as unstructured data elements with free-form text such as adjuster notes.

By managing the quality of claims data and automating data quality processes, insurance companies will more accurately forecast loss reserves, manage allocated expenses, and identify missed opportunities for time-sensitive recoverables including subrogation and catastrophe coding. Insurance firms can reduce overarching expenses, maximize recovery, improve overall claims operations efficiency and identify opportunities to grow their business.

"The quality of insurance data related to improperly reserved claims, misclassified expenses or loss reserves deeply impacts business results and decision-making at insurance companies—and keeps claims professionals up at night—especially in light of regulatory and competitive market pressures," says Stephen Applebaum, senior analyst for property & casualty insurance at Aite Group. "By utilizing a solution such as Claims Data Quality, claims professionals can create more visibility into their data in order to more effectively accomplish insurance operations processes that could potentially maximize recovery, improve operational efficiency and increase customer satisfaction. Moreover, the higher the quality of data used to drive the many business analytics programs being adopted, the more valuable will be their output."