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PREDICTIVE ANALYTICS

Milliman Nodal Predictive Analytics

The market-leading predictive analytics platform for insurance optimizes claims performance, identifies at-risk claims, and reduces claims cost.

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OVERVIEW

Predictive power and efficient operations all in one package

Nodal™ is a web-based predictive modeling and decision-support system used for early claim intervention. It analyzes a wide range of claims data to predict claims that are likely to incur high costs so insurers and self-insurers can optimize management and reduce costs.

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Benefits

Unrivaled claims automation platform

Predict future claim outcomes daily as new claims are reported using Nodal’s unstructured and structured data.

Reduce costs through claim automation

Reduce claim costs three to 10 percent by automating low-risk claims and identifying higher-risk and higher cost claims shortly after report.

Predictive analytics powered by AI

Leverage unstructured data to predict and plan for volatile and high-cost claims by extracting information from adjuster notes shortly after the claim is reported.

Claims triage

Dynamic data visualization helps quickly identify insurance claims trends and transfer problematic claims early. This enables you to maximize the value of cost containment strategies and of senior staff.

Built-in expertise

Subject-matter experience with claims operations and actuarial science is designed into our end-to-end solution, providing accurate results based on decades of industry expertise. This comprehensive approach helps ensure success and maximize your ROI.

Features

Nodal predictive modeling features:

Increased consistency

Increased consistency

Budget and reserve with greater confidence thanks to predictive capabilities that enable volatility management.

FAQ

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Insight

Milliman Nodal insight

Article

Making predictive analytics work for you

Learn how predictive analytics differ from other approaches to data—and how it can help your business.

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Article

Industry body part coding is wrong - Part 1: Multiple body parts

Multiple body part claims can be translated into specific combinations of body parts by extracting data from unstructured data using text mining algorithms.

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Nodal named Analytics Solution of the Year

Milliman wins three InsuranceERM Americas Awards for its insurtech products and risk consulting services

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Resources

Milliman Nodal resources

BROCHURE

Milliman Nodal brochure

See how you can use AI to predict claim outcomes based on underutilized data.

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USE CASE

Lowering workers comp costs with predictive analytics

See how Nodal helps IRMA reduce costs and improve claim management.

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Press release

Milliman wins three InsuranceERM Americas Awards for its insurtech products and risk consulting services

Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce that the firm has won three 2020 InsuranceERM Americas Awards for its insurtech products and risk consulting services. The goal of the IERM Americas Awards is to highlight enterprise risk management leaders in the Americas.

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