Crystal & Company, one of the world's leading strategic risk and insurance advisors, has launched a new industry leading analytical tool to help their clients focus their loss control efforts for maximum impact.
This new predictive modeling enables risk managers to predict which individual claims have a higher likelihood of exceeding a particular dollar threshold, which may protect companies against unexpected financial losses and liabilities.
"Our new workers’ compensation analytics tool helps risk managers focus on identifying exactly when, where and how claims are occurring," said Jamie Crystal, Executive Vice President of Crystal & Company. "This information empowers our clients to direct their loss control efforts where they’re most needed resulting in a lower total cost of risk, and potentially, reducing future claims from happening."
Typically, risk managers and brokers focus time and resources toward reducing and managing policy premiums. However, for many clients, this is actually a small cost compared to the cost of a potentially large, damaging claim.
Crystal & Company’s new predictive modeling tool can forecast which claims will be excessive so they can be reviewed, managed and closed more effectively.