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ACE 4D applies propriety four dimensions of predictive analytics to
reduce costs and drive better claims outcomes for insureds
PHILADELPHIA--(BUSINESS WIRE)--
ACE Group today announced the launch of ACE 4D™, its next-generation
predictive modeling and data analytics solution. Designed to support ACE
insureds, ACE 4D is a suite of analytic tools that provide high
definition insight into unrecognized claim severity, enabling claim
professionals to employ effective and appropriate loss mitigation
strategies.
ACE 4D delivers a proprietary data advantage by analyzing the strongest
predictors of claims severity. Powered by ACE 4D, claims adjusters can
effectively identify and explore opportunities for positive intervention
to improve claim results for ACE insureds. In just over a year, this
approach of linking analytics to action generated millions in workers
compensation claim cost savings to clients.
“ACE has a long track record of making significant investments in our
data analytic capabilities and claims talent. Our goal is to continue to
provide our clients with tools and resources that will help them meet
their risk mitigation goals and objectives,” said Steve Laudermilch,
Senior Vice President, ACE Group Claims. “ACE 4D is the latest example
of our use of predictive models and data analytics tools in workers
compensation, automobile, general liability and employment practices
liability, with other tools in the development pipeline.”
ACE 4D powers the claim management process by using data-derived
insights for each industry, claim, or jurisdiction. Key features of this
comprehensive ACE offering include:
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Proprietary claim assessment technology, with a defined process that
leverages statistical and data mining techniques
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Predictive modeling methods that incorporate structured and text
variables
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Seamless, user friendly access to model and supporting output through
ACE Worldview®, ACE’s award-winning desktop portal that gives ACE
clients access to our systems and expertise, in one easy-to-use
application
Concluded Mr. Laudermilch, “Early, rigorous testing has shown that our
clients find ACE 4D to be extremely valuable. By using this technology,
clients are able to better define their claims management priorities and
approaches. ACE 4D can help clients identify claim intervention
opportunities that can lead to better outcomes and bottom line savings
for ACE clients.”
ACE announced these enhanced ACE Worldview features and analytics
capabilities in advance of the RIMS 2015 Annual Conference & Exhibition
in New Orleans. Visit ACE at Booth 1821.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance, and life insurance to a
diverse group of clients. ACE Limited, the parent company of ACE Group,
is listed on the New York Stock Exchange (NYSE: ACE) and is a component
of the S&P 500 index. Additional information can be found at www.acegroup.com,
or follow ACE on Twitter, https://twitter.com/ACEGroupNA.
ACE®, ACE logo®, and ACE insured® are
trademarks of ACE Limited.
Source: ACE Group