IBNR Dx™ enables Horman Actuarial Solutions to develop analytics for improving and automating your Health IBNR analysis.
Some of the capabilities include:
Full automation of IBNR – The intention is not to replace existing IBNR capabilities but this allows:
- Independent validation of actuarial teams IBNR calculations
- Automation of detail lines of business and claims category which can be used to develop data warehouse completion factors
- Enables real time comparison of various IBNR methodologies
Mathematical support behind key IBNR assumptions including
- Which lag methods are best?
- What is the ultimate level?
- How & when to blend in PMPMs?
- In absence of other information how do I estimate trend?
- How do I justify the explicit margin?
Algorithms designed to identify issues in historical data
- Speed of claims processing overtime
- Identify top payment months which are anomalies and could skew analysis
- Identifies claim anomalies
Visualization enables managers and executives users to slice through results
Flatten data files so team can can incorporate IBNR analytics into their own analytics
Next generation IBNR applications incorporating machine learning and other statistical techniques
Contact us to learn more about how Horman Actuarial Solutions can help improve and automate your Health IBNR analysis.
