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Although U.S. property and casualty insurers pay approximately $50 billion per year in medical claims, carriers are a long way from reaching peak efficiencies in analyzing and processing those claims. Carriers realize that employing advanced analytics—using structured data gathered from medical records—would have immediate and direct benefits in a number of areas, including indemnity accuracy; recovery identification and capture; and fraud detection and prevention.

The scarcity of key skills—along with the difficulty of scaling up already complex processing operations—prevents carriers from taking full advantage of this opportunity.

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