MagAnalytics is working with medical professional liability insurance carrier that provides coverage to physicians, health care extenders, medical groups, hospitals, community clinics and allied health care facilities throughout the country. The insurance protects the policyholder from liability associated with wrongful practices resulting in bodily injury, medical expenses, as well as the cost of defending lawsuits related to such claims.

The insurance industry, like many other industries, is undergoing huge disruption as technology becomes an enabler of making data-driven business decisions. MagAnalytics client being a major player in malpractice insurance is no exception, here the management is looking for new opportunities to transform the way the company leverages advanced analytics to unlock the full potential of the data to enable smarter decisions. Medical malpractice claims expense savings go directly to the bottom line.

The goal of the project is to use clients data and analytics to derive actionable insights to evaluate and better manage the claim process. As a result, the client is able to leverage these insights to better enable understanding and management of defense strategies which is single source of their largest expense.

Advance analytics enabled to uncover hidden opportunities and challenges within claims management. The analytics solution provided results to help to gain a competitive advantage by reducing loss ratios, improving effectiveness of defense attorney invoicing practices, and improving operating results.