Detect fraud while prioritizing and predicting claims.
Insurance companies are always battling various instances of fraud, and oftentimes aren’t as successful as they would like. With Myriad, carriers can use historical cases of fraud to identify and prevent potential fraud before it happens. In addition, predictive analytics can be used to retroactively pursue corrective measures of missed fraud.
Every customer wants fast and personalized service which can sometimes present a challenge. By using predictive analytics, carriers can decide which claims are highest priority and respond to them as quickly as possible. This results in saved time, money, and resources while retaining business and improving customer satisfaction
Predicting Number of Claims
The number of claims submitted to carriers can be quite volatile throughout the year. With response time being a key piece of customer satisfaction, insurers can use Myriad to predict claim spikes and properly staff to handle all the responses. In addition, by predicting slowdown in claims companies can save money by lowering staff count during these times.