GUI for risk profiles

• US 8,423,388 B1
• Filed: 01/17/2012
• Issued: 04/16/2013
• Est. Priority Date: 01/17/2012
• Status: Active Grant

• Current Assignee: Aon Global Operations Limited (Singapore Branch) (Aon Plc (Spain))
• Original Assignee: Aon Global Risk Research Limited (Aon Plc (Spain))
• Inventors: Galusha, Larry J., Ungaretti, Carol A., Burns, Kathleen
• Primary Examiner(s): Poinvil, Frantzy
• Application Number:
  US13/351,989
• Time in Patent Office: 455 Days
• Field of Search: 705 3- 44
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/06393 Score-carding, benchmarking or key performance indicator [KPI] analysis
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G16H 50/30 for calculating health indices; for individual health risk assessment

Abstract

A memory device stores machine-readable instructions executable by a processor to cause the processor to graphically depict on a display device a first category of risk analysis data related to a plurality of insurance claims. The processor also causes the display to graphically depict a relationship between a first analysis result and a first benchmark value corresponding to the first analysis result, and graphically depict one or more user controls for selecting a second category of risk analysis data.

Claims

1. A memory device storing machine-readable instructions, the instructions executable by a processor to cause the processor to:

retrieve a first set of data from a database, the data including information about a plurality of insurance claims;

perform an analysis of the first set of data to determine a first result associated with a first key performance indicator (KPI);

obtain a first set of benchmark values corresponding to the first KPI;

compare the first result to the first set of benchmark values to determine the relationship of the first result to the set of benchmark values; and

send to a display device a relationship between the first result and the first set of benchmark values,

wherein the KPI is one of the group consisting of;

a percentage of workers compensation claims that include temporary total disability (TTD) payments;

an average number of days per TTD claim;

an average value of indemnity claims;

a medical-to-indemnity conversion rate;

a claim closure rate for workers compensation claims;

an average time between a date of loss and a date reported to a third party;

a percentage of total claim payments attributable to medical costs;

a percentage of medical costs attributable to pharmacy costs;

a PPO penetration rate;

a percentage of claims litigated;

a percentage of total claim payments attributable to expenses;

a percentage of total claim payments attributable to legal expenses;

a trend relationship related to an actuarially based claim frequency rate;

a variance related to an incidence rate of Occupational Safety &

Health Administration (OSHA) claims;

a variance related to a lost work date rate; and

a loss rate calculated based on claim frequency and claim severity.

2. A memory device according to claim 1, wherein the instructions are further executable by the processor to cause the processor to:

perform an analysis of one or more second sets of data to determine one or more second results associated with one or more second key performance indicators;

obtain one or more second sets of benchmark values, each of the one or more second sets of benchmark values corresponding to a respective one of the one or more second key performance indicators;

compare each of the one or more second results to the respective one or more second sets of benchmark values; and

depict on the display device a relationship between each of the second results and each of the second sets of benchmark values.

3. A memory device according to claim 1, wherein the instructions are further executable by the processor to cause the processor to:

retrieve or calculate one or more previous values of the first result;

graphically depict the relationship between the determined first result and the one or more previous values of the first result.

4. A memory device according to claim 1, wherein the instructions are further executable by the processor to cause the processor to:

perform an analysis of one or more subsets of the first set of data to determine one or more second results associated with the first KPI; and

depict on the display device the relationship between first result and the one or more second results.

5. A memory device according to claim 1, wherein the first KPI is a medical-to-indemnity conversion rate determined according to the number of claims that start as medical-only claims and end as indemnity claims.

6. A memory device according to claim 1, wherein the first KPI is a loss rate and wherein determining a first result comprises:

determining a claim frequency rate; and

determining a claim severity rate.

7. A memory device according to claim 6, wherein:

determining a claim frequency rate comprises determining a claim count per unit of exposure; and

determining a claim severity rate comprises determining an average claim cost per unit of exposure.

8. A memory device according to claim 1, wherein the instructions are further executable by the processor to cause the processor to:

associate with the first KPI a risk indication according to the comparison of the first result to the first benchmark value; and

depict on the display device the first KPI and the risk indication associated with the first KPI.

9. A memory device according to claim 8, wherein the instructions are further executable by the processor to cause the processor to:

associate with each of the second one or more key performance indicators a respective risk indication according to the respective comparison of the one or more second results to the one or more second benchmark values; and

depict on the display device each of the second key performance indicators with the respective one or more associated risk indications.

10. A memory device according to claim 1, wherein the instructions are further executable by the processor to cause the processor to:

receive a selection input from a user; and

display a subset of the first set of data according to the selection input.

11. A memory device storing machine-readable instructions, the instructions executable by a processor to cause the processor to:

graphically depict on a display device a first category of risk analysis data related to a plurality of insurance claims;

graphically depict on the display device a relationship between a first analysis result and a first benchmark value corresponding to the first analysis result; and

graphically depict on the display device one or more user controls for selecting a second category of risk analysis data,

wherein the first analysis result is one of the group consisting of;

a percentage of workers compensation claims that include temporary total disability (TTD) payments;

an average number of days per TTD claim;

an average value of indemnity claims;

a medical-to-indemnity conversion rate;

a claim closure rate for workers compensation claims;

an average time between a date of loss and a date reported to a third party;

a percentage of total claim payments attributable to medical costs;

a percentage of medical costs attributable to pharmacy costs;

a PPO penetration rate;

a percentage of claims litigated;

a percentage of total claim payments attributable to expenses;

a percentage of total claim payments attributable to legal expenses;

a trend relationship related to an actuarially based claim frequency rate;

a variance related to an incidence rate of Occupational Safety &

Health Administration (OSHA) claims;

a variance related to a lost work date rate; and

a loss rate.

12. A memory device according to claim 11, wherein depicting the relationship between the first analysis result and the first benchmark value comprises depicting for each of one or more key performance indicators (KPIs) associated with the first category at least:

a value calculated for the KPI; and

a comparison of the calculated value to a benchmark value.

13. A memory device according to claim 12, wherein the depicted information further includes for each KPI depicting one or more historical values corresponding to the calculated value.

14. A memory device according to claim 12, wherein a first of the one or more KPIs is a loss rate calculated based on claim frequency and claim severity.

15. A memory device according to claim 12, wherein a first of the one or more KPIs is a medical-to-indemnity conversion rate determined according to the number of claims that start as medical-only claims and end as indemnity claims.

16. A memory device according to claim 12, wherein the instructions are further executable by the processor to cause the processor to:

graphically depict for each KPI a relationship between each of a plurality of data subsets related to the KPI.

17. A memory device according to claim 16, wherein the plurality of data subsets comprises one or more of the group consisting of:

a data subset according to a time period;

a data subset according to a claim type;

a data subset according to an corporate organizational structure;

a data subset according to an injury type (injured part, injury cause, injury nature);

a data subset according to a claim value; and

a data subset according to a relationship of claims to a benchmark value.

18. A memory device according to claim 16, wherein the instructions are further executable by the processor to cause the processor to:

receive a user input selecting one of the plurality of data subsets; and

display in response to the received user input the data of the selected data subset.

19. A memory device according to claim 11, wherein the risk analysis data comprises insurance data of claims related to one of the group consisting of:

workers'"'"' compensation, auto liability, and general liability.

20. A memory device according to claim 11, wherein the first category of risk analysis data comprises one of the group consisting of:

claims process effectiveness, litigation management, and report lag analysis.

21. A memory device according to claim 11, wherein the instructions are further executable by the processor to the cause the processor to graphically depict a risk profile based on the risk analysis data.