Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce that the firm’s Datalytics-Defense second-generation e-billing solution has been recognized as the 2022 InsuranceERM Awards – Americas “Analytics Solution of the Year.” The goal of the awards is to highlight enterprise risk management leaders in the Americas.
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Datalytics-Defense is a complete end-to-end solution to manage defense cost invoices. The platform employs powerful data mining algorithms and artificial intelligence (AI) allowing insurers to leverage data contextualization and detect patterns in attorney billing practices, empowering them to make better business decisions and build better defense strategies.
In its award statement, InsuranceERM noted that “the tool has become ever more important in the current era of ramped up litigation—so-called social inflation—a major point of concern for US insurers as courts open up post-Covid.” The judging panel also praised Datalytics-Defense for its ability to provide a macro approach into litigation spend and delivering actionable insights to clients.
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“By extracting the intelligence from attorney invoices and leveraging that against the claim details, our clients are able to gain valuable insights into their defense costs and strategies,” says Chad Karls, a Milliman principal and Datalytics team lead. “Presenting these analytics via interactive and easy to understand dashboards allows our clients to quickly identify savings opportunities.”
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