IBNR Dx™ enables Horman Mathematical & 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