Predictive Modeling Factors to consider.... /via iso.com

  • Totals: Total Exposures
  • Trends: Rate of Medical Bill Increases
  • Ratios: Claims/Premium, Target/Median 
  • Friction: Level of inconvenience, ratio of rental to damage
  • Sequences: Lawyer-Doctor, Auto-Life Policy
  • Circumstances: Minimal Impact Severe Trauma
  • Temporal: Loss shortly after adding collision
  • Spatial: Distance to Service, proximity of stakeholders
  • Logged: Progress Notes, Diaries, Who did it, When, “Why”
  • Behavioral: Deviation from past usage, spike buying 
  • Experience Profiles: Vendor, Doctor, Premium Audit
  • Channel: How applied, How reported, Service Chain
  • Legal Jurisdiction: Venue Disposition, Rules 
  • Demographics: Working, Weekly wage, lost income
  • Firmographics: Industry Class Code Vs Injuries Claimed
  • Inflation: Wage, Medical, Goods, Auto, COLA 
  • Gov’t Statistics: Crime Rate, Employment, Traffic
  • Other Stats: Rents, Occupancy, Zoning, Mgd Care

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