SEATTLE, Sept. 13, 2016 /PRNewswire/ -- Milliman, Inc., the premier global consulting and actuarial firm, today announced that NORCAL Mutual has chosen Milliman Datalytics-Defense® as its platform for managing its defense costs. Datalytics employs powerful data mining algorithms to help insurers evaluate costs associated with defending claims in order to identify opportunities to improve results.
"We chose Milliman Datalytics-Defense® because of its ability to provide an efficient approach to managing defense costs while increasing our ability to turn data into information...," says Timothy J. Friers, NORCAL Mutual Senior Vice President and Chief Operating Officer. "The tool allows us to gain greater insight into our results and improve our claim defense strategies for the benefit of our insureds."
Milliman Datalytics-Defense® provides real-time, actionable intelligence through responsive reporting dashboards that are built upon a robust data warehouse. The web-based tool is available on a subscription basis and can perform peer comparisons, allowing insurers to credibly benchmark their defense costs. The tool's predictive analytic engine helps insurers develop best practices of claims defense.
"Milliman Datalytics-Defense® uses advanced text mining to unlock information that was previously hidden in defense costs invoices," says Chad C. Karls, Milliman Principal and Consulting Actuary.
To learn more about Milliman Datalytics-Defense®, go to http://us.milliman.com/Solutions/Products/Milliman-Datalytics-Defense/.
About NORCAL Mutual
Since 1975, NORCAL Mutual has been a policyholder-owned and physician-directed medical professional liability carrier dedicated to ensuring the availability of affordable and relevant coverage. Including its subsidiary companies Medicus Insurance Company, NORCAL Specialty Insurance Company and FD Insurance Company, NORCAL Mutual is one of the top ten medical professional liability carriers in the nation, based on direct written premium, and holds an "A" (Excellent) rating by A.M. Best for its financial strength and stability.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com.
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SOURCE Milliman, Inc.