Insurance claims professionals are pioneers in the use of predictive data analytics. Well before the term “Big Data” was coined, claims examiners were digging into the data within filed claims to unearth kernels of wisdom. These insights illuminated ways to reduce claims duration and costs, returning injured or ill employees to health and to work on a faster timetable.

Now a more robust form of predictive analytics is at hand for enhancing the way claims are handled. Unlike previous analytical processes that were focused entirely on an organization’s structured internal claims data, systems have now been advanced to mine the wealth of unstructured and external data that heretofore have been challenging to analyze.

All types of insurance claims will benefit from the application of predictive analytics. The technology provides insights about the likelihood of future claim events, ferrets out instances of fraudulent claims activity, and ensures appropriate treatments that expeditiously return employees to work.