Overview
Ventiv Predict is an advanced analytical solution designed specifically for the risk and insurance industries. This solution streamlines the predictive analytical process by combining data integration and preparation, advanced analytics and model deployment into one integrated software product. Containing a series of pre-built predictive analytical models, it empowers organizations to turn the growing volumes and varieties of data into actionable insights so that they can make data-driven decisions—in real time—throughout the claim lifecycle.
Key Features
Ventiv Predict provides:
- Extensive claims history database of tens of millions of claims representing over $80bn in payouts
- Natural Language Processing (NLP), machine learning and AI techniques to analyze both structured and unstructured data
- Pre-built predictive models for
- Case Reserving
- Litigation propensity
- Subrogation likelihood
- Claims duration
- High-severity claims
- Reinforcement learning algorithms
- Seamless model deployment
- Real-time scoring with core systems integration
Key Benefits
Ventiv Predict helps carriers:
- Quickly identify high-severity and jumper claims
- Straight-Through Processing for low-complexity claims
- Decrease litigation risk
- Minimize missed subrogation cases
- Enhance case reserve forecasting
- Improve adjuster efficiency and productivity
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