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Trillium Software Announces P&C Claims Data Quality Solution

The combined software and consulting solution uses a proven data quality methodology to assess and quantify data defects, deploy and apply insurance-centric business logic to measure impact, and manage and establish business-as-usual processes in order to automate data defect analysis and visualization.

Trillium Software is a business of Harte-Hanks, Inc.
Trillium Software (Billerica, Mass.), a unit of Harte-Hanks, Inc. (San Antonio, Texas), has announced the availability of its new Claims Data Quality solution for P&C insurance claims professionals. The new offering leverages what the vendor characterizes as its deep data quality and insurance claims expertise to help insurance professionals automate the assessment, monitoring and analysis of critical structured data, as well as unstructured data elements with free-form text such as is found in adjuster notes, providing greater insight and visibility into their claims data, according to Trillium.

"The quality of insurance data related to improperly reserved claims, misclassified expenses or loss reserves deeply impacts business results and decision-making at insurance companies, especially in light of regulatory and competitive market pressures," comments Stephen Applebaum, senior analyst for property & casualty insurance at Aite Group. "By utilizing a solution such as Claims Data Quality, claims professionals can create more visibility into their data in order to more effectively accomplish insurance operations processes that could potentially maximize recovery, improve operational efficiency and increase customer satisfaction. Moreover, the higher the quality of data used to drive the many business analytics programs being adopted, the more valuable will be their output."

Claims Data Quality is a combined software and consulting solution, powered by the Trillium Software System data quality software platform. Insurance companies engage with Trillium Software consultants using a proven data quality methodology to Assess and Quantify (identify data defects) in an automated fashion, Deploy and Apply insurance-centric business logic to measure impact, and Manage and Establish business-as-usual processes in order to automate data defect analysis and visualization, according to a vendor statement. Trillium also can create the business logic and measurement processes to correct data and monitor progress towards defined objectives, and implement ongoing data quality processes to prevent future data problems, the vendor statement says.

[For more on claims data issues see: With Claims Data, Size Doesn't Matter ]

Trillium provides clients with an overall data assessment that reviews all current claims data across repositories, systems, and processes to identify areas that need improvement, the vendor says. That includes an examination of structured data contained in fields and unstructured data from claims adjuster notes and other sources. Resulting analysis, reporting and data assessment information can be delivered in any requested user interface or format — from business intelligence dashboards and scorecards to spreadsheets and files.

The solution helps address a number of uniquely-claims-based data problems such as:

- Loss Reserves: proactive, automated identification of potentially inaccurate loss reserves in order to adjust reserves in a timely and accurate manner to match the true claims exposure and mitigate costly manual remediation processes;

- Allocated Expenses: automating identification and matching of case files to specific claims activities to minimize expenditures while maximizing value,

- Subrogation and CAT Recovery: automated identification and remediation of claims for Subrogation and CAT coding to optimize claims recovery amounts and processes.

"Insurance claims professionals are making decisions based on poor quality data, which can lead to adverse department performance due to incorrect assumptions on loss reserves, catastrophe management, subrogation maximization and litigation controls," says Michael Chochrek, insurance solutions principal consultant, Harte-Hanks Trillium Software. "Our answer to these data quality challenges is based on deep insurance claims subject matter expertise, world-class data quality assessment capabilities and a proven data quality methodology to help claims professionals understand and solve their data issues."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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