By the Numbers

Question 1

How many clinical claims staff can Hartford Claim

Answer 1

Approximately 220

Question 2

How much of each premium dollar does Hartford safeguard.

Answer 2

Approximately 78 cents

Question 3

How many data points does Hartford look at every day

Answer 3

3 Million!

Question 4

How much in additional subrogation recoveries are generated through predictive modeling?

Answer 4

7.5 MILLION

Question 5

What does Vista do and how much does it save annually?

Answer 5

Vista is a WC volatility model which helps identify those claims that may require some form of early intervention. Using this data we can assign skilled staff earlier in the claim cycle.

The savings annually is $10Million

Question 6

How much does Fraud account for in the industry on an annual basis?

Answer 6

About 10% of all indemnity paid by insurers.

Question 7

What is the average “Fraud” savings from a claim level investigation.

Answer 7

Maybe $10,000 but can be hundreds of thousands of dollars when it involves a complex claim ring.

Question 8

What kind of sources of data do we “mine”

Answer 8

Handler Notes
Social Media
Documents
Voice Transcripts
Domain Taxonomies (WC, GL, Auto, Property, Disability)
Concept Extraction Rules (Comorbidity, Pyscho-Social, SIU red flags)

Question 9

What is our Text Factor Database

Answer 9

It is a data warehouse where the mining of data can help create algorithms/predictive models and allow for improved, timely, effective business intelligence.

Question 10

What is the amount of Limit Demands of $500,000 or more that we litigate?

Answer 10

90%

Question 11

Of our litigated cases taken to trial, what percentage results in no payment.

Answer 11

Almost 50%

Question 12

What is the amount that Hartford paid out on all cases taken to trial.

Answer 12

Approximately 40% of Demands

Question 13

Staff legal accounts for what percentage of cases and what percentage of cost?

Answer 13

Approximately 200 staff attorneys handle 70% of all litigated cases at only 35% of the cost.

Question 14

In general what are the costs for staff counsel compared to panel counsel by line of coverage

Answer 14

Workers’ Compensation - Staff .50 Panel 1.00

Liability .40 Panel 1.00

Question 15

How much have we cut panel counsel referrals in the last 3 years and how?

Answer 15

We’ve cut panel counsel referrals over the past 3 years by 90%. We’ve done this by hiring specialists with needed experience in needed geographic locations.

Question 16

How much have our Complex Litigation Teams saved us in 2013

Answer 16

In 2013, our complex litigation teams saved over $2M in potential legal spend (Proof of Concept teams were in New York & Chicago). Expanding to Los Angeles, New Jersey and Philadelphia with anticipates savings of $4M.

Question 17

What is the percentage of returning an employee out of work more than 12 weeks?

Answer 17

Less than 50%

Question 18

What percentage of small businesses close following a major loss?

Answer 18

40% of small businesses that close following a major loss never open again.

Question 19

How does claim service impact retention with regard to personal lines?

Answer 19

5%-8% of personal lines customer are more likely to renew with Hartford after experiencing a claim.

Question 20

What is the average rate score increase on Loyalty survey when there is a service alert & what happens?

Answer 20

50% average rate increase. A service alert is issued within 90 minutes of a low score, or makes a complaint. It goes directly to the claim supervisor who must resolve the issue within 24 hours.

Question 21

How significant is the customer loyalty scores to an adjuster?

Answer 21

Very. It accounts for 25-30% of their annual performance

Question 22

What is the New Business & Retention goals for Claim Account Executives?

Answer 22

46% New Business

94% Retention

Question 23

What is the approximate number of Hartford Claim Staff

Answer 23

Hartford has approximately 6,000 claims staff.