Advanced Predictive Analytics

Workers’ Comp

The gradient A.I. solution is aimed at solving a broad range of business problems starting with early identification of “creeping catastrophic” claims. “Creeping CATs,” while typically a small percentage of all non-CAT claims, usually account for the majority of total losses. Companies following best practices that tend to identify these larger loss claims miss the “window of suggestibility” that provides the adjuster with the greatest opportunity to positively influence claim outcomes.

Despite the drop in claim frequency, the cost of claims in workers’ compensation is rising at rates similar to overall wage costs. In addition to this accelerating cost curve, frequency tends to pick up with an accelerating economy, leading to even faster growth of costs.

A growing number of companies are taking advantage of gradient A.I.’s powerful suite of decision support solutions to help identify both the claims with the highest risk of cost and duration as well as identify the most impactful intervention strategies that can have the greatest positive outcome at every point throughout the life of a claim.

With integrated reporting capabilities, which combine all claims data through both internal and external systems, our customers receive a comprehensive and accurate decision support platform.

Underwriting

gradient A.I. uses the most advanced machine learning-based analytics to combine our clients’ data in tandem with big data from existing partnerships to provide improved risk selection and pricing.

A recent poll of over 300 insurance companies suggested that, on average, each company is utilizing approximately 15% of its internal data. Put simply, companies have a vast amount of data on hand, but lack the necessary tools to take advantage of their existing data.

Our capabilities increase the power of internal data by efficiently pulling together all internal data, both structured and unstructured, with external “big data” to overcome the issue of “we don’t have enough data.” The proof is in providing more accurate pricing and better performing policies. The addition of integrated reporting provides accurate and timely analysis of business strategies and the ability to identify emerging opportunities to gain a competitive edge in the marketplace.

The gradient A.I. underwriting platform improves efficiency and reduces quote turnaround time, including automated decision-making support. Our learning-based models constantly measure underwriting performance to identify changes in the underlying risks long before traditional approaches.

Data Warehouse

The gradient A.I. data warehouse leverages the latest artificial intelligence technologies to provide clients the fastest time to access data across all internal operational systems. The process uses AI to gather client data from multiple sources, deposit the data into the data warehouse, and normalize the data in a single comprehensive data silo. This platform allows clients to gain actionable insights into their data on a macro or micro level through the latest commercial business intelligence solutions such as Tableau or Power BI.

The breakthrough from gradient A.I. comes from applying machine learning capabilities on the data intake and normalization through our licensed adaptive learning engine, the Digital Collection Agent (DCA), to eliminate the costly and time consuming efforts traditionally required to build and support an enterprise class data warehouse initiative. This approach allows data intake and management to be handled internally and efficiently without adding extra steps in the process for our clients. 

The gradient A.I. data warehouse reduces time, costs, and resources required for our clients while empowering them with powerful results that were eluding them prior to having access to the gradient A.I. data warehouse.