It has been over 5 months since the Official Injury Claims Portal (OICP) went live but it hasn’t been a smooth ride. Like all new initiatives, there are always going to be a few rough edges, and in this case the challenges have been with both the claimant and defendant communities alike.
The MOJ had committed to publishing data within the first 3 months but a recent communication advised of a delay to the performance data and statistics publication. We’re now expecting to see the results by the end of October.
However, regardless of their delays, 360Globalnet can deliver insights today.
An interesting result from our analysis is that a higher percentage (40%) of claimants who are represented, are claiming anxiety type injury. Whereas 50% of unrepresented claimants are deeming their injuries more severe, and the exceptional circumstances compared to represented claimants.
From the beginning of the OICP, we have consistently seen unrepresented claimants at around 15% of the claims being submitted. This is slightly higher than the industry was predicting.
The new norm it is still in its infancy but by having access to all your available data, the insight is invaluable for analysing and managing OICP claims, as well as all other types of claims.
Our unstructured data management technology, 360Retrive, can access, manage and analyse all the data within the OICP. Crucially, we’re delivering all SCNFs in a structured data format for priority claims flagging and deeper analysis – thus giving our clients a competitive edge when making important business decisions, driving strategies and refining best practices.
360Retrieve also allows detailed analysis for all the OICP SCNF data. Here are some examples of insights our clients are already benefitting from.
Flagging and analysis on;
- Type of injuries being claimed along with details in the free field text
- Whether the injuries were severe and the circumstances expectational
- Occupancy rates
- Assistance for Rehab, Vehicle Damage and or Replacement Vehicle
- Notification delays
- Accident circumstances – both the dropdown option and the detailed free text field
In addition, a key functionality delivered by 360Retrieve is “Know Your Opponent” analysis. Understanding the behaviour propensities of individual firms, and even individual practitioners within firms, is vital if the ability to develop bespoke responses is to be secured. This will be especially important as new firms enter the market.
As Settlement Forms and Medical Reports are starting to be submitted, all this data will be available for detailed analysis within 360Retrieve.
360Retrieve accesses 100% of all your data, both structured and unstructured, for interrogation and profiling and analysis. It delivers a “Universal” view of all of your available Data so you can make the most informed decisions.
If you’d like to find out more, get in touch today. And yes, we’d be delighted to provide a no-obligation demo with your own data so you can see the power yourself.
For more information about the power of 360Retrieve, click here.