Short Term Disability Claims
Many Claim Analytics customers have seen “first hand” the benefits of the Claim Analytics claim scoring models for managing Long Term Disability claims.  Now the same success can be seen in the development of Claim Scoring models to assist in the management of Short Term Disability (“STD”) claims.

For STD the benefits will be similar to those gained from scoring LTD claims, but as the score will be obtained at an earlier stage in the claims lifecycle, action can be taken sooner, as follows:

• Early Intervention is the single biggest factor to focus on. With the aid of the claims scores, severe claims with potential for return-to-work can be identified at the earliest possible stage and the correct remedial action can be applied.
• STD/LTD split is a crucial transition in the lifecycle of a severe claim and those claims that could be on the threshold of transitioning can be given special attention.
• A holistic approach to claims management can be utilized, where a claims is scored from the point of approval regardless of LTD or STD and it is given an objective score that can determined the best possible path for that claim to follow for resolution.
• STD only claims where limited coverage time is given, scores can be used as an objective measure to determine which return-to-work strategies are likely to have impact on that claim and which are not. This will maximize use of limited resources.

Each of these influencing factors can help to reduce the claim durations for not only STD, but also for LTD (through even earlier intervention). If a reduction of even 1% or 2% then the overall savings from the project would be highly significant!