Editor's Note: The following article is a collective contribution of Kevin M. Bingham, Frank Zizzamia, Jim Guszcza and Kirsten Hernan, all of whom work at Deloitte.

Henry Ford is credited with saying, "half of my advertising budget is wasted; I just don't know which half."

Ford might sympathize with insurance claims adjusters, who face even more pressing uncertainties. In the workers' compensation domain, for example, it is well known that 20 percent of the claims ultimately account for 80 percent of the total claims costs. This is true of both lost-time and medical-only claims.

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