Workers' comp insurers bolster underwriting with predictive modeling

02/25/2013 | Business Insurance (tiered subscription model)

Workers' compensation insurers are seeking more accurate underwriting and pricing by using predictive modeling, experts say. The "next logical step" is to use predictive analytics in such underwriting, says PRIUM's Michael Gavin. "There's data there [and] there are algorithms there that can be applied to the underwriting process. ... It's probably [only] the most innovative of claims organizations that are actually doing that," Gavin said.

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