Jim Kaiser is CEO of Casentric.
The use of data to gain deeper insight into claims performance is growing rapidly. Technology and tighter process management is fueling this growth. Legacy system replacement provides offers the opportunity to collect more data as do other solutions such as medical bill review, auto and property damage estimating or injury and liability evaluations. Business intelligence systems designed to improve our ability to consolidate and analyze this data are growing in capability as well.
Before plunging headlong into the sea of data, it is useful to take stock in the historical challenges of data analysis in claims to avoid having history repeat itself. In particular, it is vital to understand what kind of sense can be made of the data we create—can it tell us "why." To explore this question, this article lays out data goals, the challenges that have impeded achieving these goals, and comments on how these insights impact the next generation of data analysis.
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