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The new age of analytics has led to the development of a variety of solutions that leverage internal and external claims-related data to enable claims handling resources to take preventative actions earlier in the life cycle of a claim. From first notice of incident (FNOI), and resource assignment, to the identification of potentially fraudulent claim activity, models are changing the claims handling world. However, one critical component of helping organizations achieve maximum efficiency using predictive models is the upfront investment claim that organizations make to ensure that the models are implemented effectively. 

Modeling Basics

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