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Benchmarking

With access to billions of data points

Precedent delivers historic, industry-wide data to insurers, so they have the real-time information they need to view nationwide industry trends. Additionally, Precedent benchmarking provides deeper-level data at state and market levels to support bodily injury settlements.

Precedent benchmarking provides data analytics in insurance claims that help in three main ways:

  • Real-time results for adjusters on similar injuries.
  • Real-time results for attorneys on demands vs. settlements.
  • Real-time results for the industry across various injury segments.

Answering these questions can improve the negotiating process while reducing costs and minimizing indemnity in claims.

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Precedent Benchmarking Delivers Essential Value

Adopting an AI-based approach unlocks the actual value of bodily injury claims data to help aid the decision-making process and provide Reveal based on real-time trends. By combining Precedent benchmarking with human judgment, insurers can process claims faster and more efficiently while lowering human resource and processing costs. This structured approach builds a strong data foundation to support the accuracy of bodily injury claims.

Interested in Learning More about Precedent Benchmarking?

Precedent is pleased to support insurers nationwide with timely reporting of results. Because of the current market conditions, it’s more important than ever to partner with a data provider committed to providing you with the Reveal you need to automate claims processing with confidence. Contact us today by filling out our online form to see how we can help you drive better results with emerging data using our benchmarking solutions. With us, we’ll provide the fastest, most impactful, and most reliable results in the market.