Predictive Analytics To Drive More Workers’ Comp Decisions

Big Data is changing the way the world does business, and this is nowhere more true than in the financial realm. According to Dax Craig, CEO of Valen Analytics, more than half of all property and casualty insurers are now using predictive analytics to determine pricing and simply to decide which risks are more or less attractive to insure. He wrote in a recent blog post that he thinks workers’ comp is leading the way in terms of using data to predict and control outcomes. He says analytics can also be used to better understand and reduce fraud. Craig is not alone in thinking that workers’ comp is ripe for the use of analytics.