John Ykema, Director of Sales & Marketing Arthur Frisch, President, i3 Analytics.

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Presentation transcript:

John Ykema, Director of Sales & Marketing Arthur Frisch, President, i3 Analytics

Price Like The Experts  Introduction of i3 Analytics  Arthur Frisch  Current Integration  Future Enhancements

i3 Analytics Technology Data Visualization Software Predictive Modeling and Machine Learning Web-Based Mobile Applications Our Mission Improve and enhance the value of our clients’ data by implementing positive changes to company culture and analytical processes. RiskMD was formed in 2013 with offices in Orlando, Florida and commands 100+ years of insurance experience. RiskMD technology has processed more than $51 Trillion of payroll, premium and claims data since inception. RiskMD technology serves carriers, reinsurers, third party administrators, agencies and wholesalers in the P/C industry. Services Property & Casualty Analytics Mergers & Acquisitions Due Diligence Financial Data Consulting and Auditing

How do you know if you’re charging enough for workers’ compensation? Carrier Rate Adequacy Understanding the true performance of an exposure Pricing according to your profitability goals Growing Your Business Assessing projected performance in a state or occupation Unbiased justification for pricing changes BUSINESS CASE: 65% Loss Payout 30% Fixed Costs 5% Combined Ratio

Workers’ Compensation Data Life Cycle Bureau Unit Stat Datai3 Analytics NCCI Independent State Bureaus WC Claim i3 Aggregate Industry Database Carrier Claim Data

Do you realize you could be losing money by paying your clients to be on your workers’ compensation program? Optimized Pricing Our predictive analytics, now built-in to your ClientSpace system, allows you to quickly and easily calculate the optimal billing rate for your clients. Industry Data ClientSpace now accesses i3 insurance bureau and predictive data, the most credible data available consisting of over $51 Trillion of payroll and over $200 Billion of premium. Red Flag Alerts Would you like to know that a particular work comp code or a job in a state historically averaged a 150% loss ratio or had an average claim cost of $50,000? Easy-to-Use No spreadsheets, no long reports. Your optimized billing rate along with industry analytics and potential red flags are built right into ClientSpace!

Current i3 Integration Retrieve Real-time Analysis Data Data Stamped on Pricing Comp Code record and available for Reports.

Future Enhancements Analytical Popups right from the Pricing Console. This means that you won’t need to have reports to review the data in aggregate. Claim Management Data – Pulling data for each comp claim that will help you determine the projected claim amount and close date.