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Old 11-08-2017, 12:58 PM
ARealClassAct ARealClassAct is offline
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Default WC Claims Level Data Available for Purchase?

I'm looking into purchasing a large claims-level workers' comp database for benchmarking and predictive analytics purposes. Any advice on where to begin my search? Any knowledge as to pricing on such datasets?
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Old 11-08-2017, 01:08 PM
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NCCI for the data . . . Exam 5 and Exam 8 syllabus for "industry standard" for the pricing aspect.
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Old 11-08-2017, 01:46 PM
ARealClassAct ARealClassAct is offline
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I should clarify. This isn't for pricing necessarily. I'm looking for a database that has individual claims (with claim and claimant characteristics) as well as the financials for the claim. I don't believe NCCI has data at this level available.
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Old 11-08-2017, 01:47 PM
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When I said pricing, I meant what does a dataset like this typically cost.
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Old 11-08-2017, 01:52 PM
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Quote:
Originally Posted by ARealClassAct View Post
When I said pricing, I meant what does a dataset like this typically cost.
About the same as the Brooklyn bridge, and the seller will be just as reliable.

You're asking to purchase an individual insurer's claims database. This is highly protected proprietary stuff filled with sensitive personal information.
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Old 11-08-2017, 02:16 PM
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In the US, to obtain that data, you pretty much have to purchase a pre-existing WC insurance company. It'll be easier to purchase if it's terminally unprofitable. The pricing will be roughly the surplus plus goodwill plus net off-balance sheet capital.
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Old 11-08-2017, 05:04 PM
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More companies than just insurance companies have access to and compile/sell this data. The insureds (and many third parties) are heavily involved in WC claims management due to it often being self-insured to at least some degree (large deductible programs, excess policies only, captive solutions, etc). Many entities outside of just the insurance company have access (and often licenses) to this data (TPAs, insureds themselves, RMIS system providers, Brokers, consultants, etc).

I know of two databases that exist in the marketplace (ODG and FICO). Was just wondering if there are other options that I'm not privy to.
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