The Official Injury Claim Portal has now been live for nearly two months with insurers and firms representing claimants watching carefully for early signs of how the new system will end up working, both for those bringing claims and those facing them.
It’s early days of course, but at 360Globalnet, our Retrieve system is already generating valuable and interesting insights that will shape our partners’ thinking and strategies.
Early signs of the likely direction of travel include the incidence of in-person claimants, the propensity for other heads of claim alongside injury and other key pointers to user behaviour. All are already visible thanks to 360Retrieve unstructured data analysis.
Much critical insight is yet to crystallise but as volumes ramp up we are employing analysis of the unstructured data in free text areas to draw important early insights Into additional injury types, recurring symptom descriptions, geography and claimant demographics.
This fund of information and insights will grow rapidly as volumes quickly build. We expect 360Retrieve analysis to provide vital support to our customers in forming strategies and tactics to optimise case outcomes. Those insurers who can respond nimbly to emerging trends and behaviours will create clear blue water between themselves and those for whom insight emerges later via traditional MI and case reviews.
If you’re struggling to see through the fog as the OIC portal beds in, do get in touch. We would be delighted to discuss how 360Retrieve could help put your business at the leading edge of accessing, analysing and understanding the unstructured data that comes from the OIC portal.