Over the past several years, some remarkable enhancements in both the capture and strategic use of claims information have been made. Virtually all claims organizations now have true business intelligence (BI) available to analyze and use their increasing volumes of data to make informed business decisions. The expertise in using this capability is expanding at a rapid rate; so much so that the next wave of BI innovation facilitates making use of that information virtually automatic at the point of decision.

Past, Present and Future Data
BI uses computer-based technology to capture and provide historical, current, and future-oriented data. The systems then turn that raw data into a wealth of analytic, performance management, and predictive information that must be made easy to access and configure to successfully leverage the technology. Many companies have already implemented a BI system that accomplishes this, but instituting such a program often requires varying degrees of time-consuming data and design manipulation before an actionable product is delivered into the right hands.

Also, much of the focus on initiating BI programs has occurred at a higher level than litigation management, and has involved the introduction of a reporting warehouse that integrates data from claims, policy, e-invoicing, and other systems within the organization. Where BI has been successful in generating savings and efficiencies within a litigation and spend management program, the BI tool has three essential elements: a matter management application, an e-invoicing application, and a reporting application, the last of which is capable of fully integrating and combining all three.