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Product: |
MIRA® Claims Advisor for Reserving |
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Company: |
FICO |
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Type: |
Software |
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Description: |
MIRA Claims Advisor for Reserving uses insurer claims and financial data on a batch basis. The software combines neural network predictive modeling, typically based on 10 years of company-specific claims data, with statutory logic and business rules that ensure predictions conform to state laws and your reserve policies. It captures all cost drivers, including unique claims characteristics, and considers complex relationships between multiple claim characteristics. Results are uploaded to the insurers' claims system with browser-based reports available to adjusters and managers. The software can be scheduled to recalculate reserves on a weekly or even daily basis to help reduce the risk of inadequate funds, and ensure that opportunities for premium and rate modifications are not missed.
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Related Products: |
Insurance Applications Software | Insurance Industry | Neural Networks |
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