ACE Launches Predictive Analytical Tools Powered by ACE 4D
April 21 2015 - 3:47PM
Business Wire
- ACE 4D applies propriety four
dimensions of predictive analytics to reduce costs and drive better
claims outcomes for insureds
ACE Group today announced the launch of ACE 4D™, its
next-generation predictive modeling and data analytics solution.
Designed to support ACE insureds, ACE 4D is a suite of analytic
tools that provide high definition insight into unrecognized claim
severity, enabling claim professionals to employ effective and
appropriate loss mitigation strategies.
ACE 4D delivers a proprietary data advantage by analyzing the
strongest predictors of claims severity. Powered by ACE 4D, claims
adjusters can effectively identify and explore opportunities for
positive intervention to improve claim results for ACE insureds. In
just over a year, this approach of linking analytics to action
generated millions in workers compensation claim cost savings to
clients.
“ACE has a long track record of making significant investments
in our data analytic capabilities and claims talent. Our goal is to
continue to provide our clients with tools and resources that will
help them meet their risk mitigation goals and objectives,” said
Steve Laudermilch, Senior Vice President, ACE Group Claims. “ACE 4D
is the latest example of our use of predictive models and data
analytics tools in workers compensation, automobile, general
liability and employment practices liability, with other tools in
the development pipeline.”
ACE 4D powers the claim management process by using data-derived
insights for each industry, claim, or jurisdiction. Key features of
this comprehensive ACE offering include:
- Proprietary claim assessment
technology, with a defined process that leverages statistical and
data mining techniques
- Predictive modeling methods that
incorporate structured and text variables
- Seamless, user friendly access to model
and supporting output through ACE Worldview®, ACE’s award-winning
desktop portal that gives ACE clients access to our systems and
expertise, in one easy-to-use application
Concluded Mr. Laudermilch, “Early, rigorous testing has shown
that our clients find ACE 4D to be extremely valuable. By using
this technology, clients are able to better define their claims
management priorities and approaches. ACE 4D can help clients
identify claim intervention opportunities that can lead to better
outcomes and bottom line savings for ACE clients.”
ACE announced these enhanced ACE Worldview features and
analytics capabilities in advance of the RIMS 2015 Annual
Conference & Exhibition in New Orleans. Visit ACE at Booth
1821.
About ACE Group
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance, and life
insurance to a diverse group of clients. ACE Limited, the parent
company of ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. Additional
information can be found at www.acegroup.com, or follow ACE on
Twitter, https://twitter.com/ACEGroupNA.
ACE®, ACE logo®, and ACE insured® are trademarks of ACE
Limited.
ACE GroupCarla Ferrara,
215-640-4744carla.ferrara@acegroup.com
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