Business News: Nationwide, ISO, CLARA Analytics

Nationwide announced plans to hire at least 1,000 more veterans by the end of 2020.

In 2012, Nationwide set a goal to recruit and hire 1,000 veterans. In April, Nationwide reached it goal when veteran, Amy McBride, joined the company. McBride was hired as a nurse case manager within the commercial insurance claims office in Harrisburg, Pa.

Nationwide plans to hire veterans to work in a variety of roles in several office locations across the country. Members of the military and veterans are encouraged to learn more about Nationwide by visiting the company’s career page, viewing potential career opportunities and submitting applications online at www.nationwide.com/careers.

ISO, a Verisk Analytics business, has introduced new home-sharing insurance options that address the growing risks policyholders face when renting their homes online to people they’ve likely never met.

The new homeowners coverage options and accompanying rating provisions have been filed on a multi-state basis to enable insurers to address a number of exposures that home-sharing hosts face, including: liability; theft; vandalism; and damage to guests’ property. New coverage endorsements provide added protection for homeowners and renters who choose to participate in home sharing.

To learn more about ISO’s home-sharing insurance options, visit www.iso.com/homesharing.

CLARA analytics, a division of LeanTaaS, a Silicon Valley healthcare SaaS provider, announced the commercial availability of CATT, a cloud-based control tower that helps claims teams intervene early and reduce claim escalations. Early adopters have seen significant improvements in operational performance.

For example, an early adopter and California-based carrier achieved significant improvements in outcomes by reducing attorney involvement from 13 percent of all claims to 4 percent.

While the majority of workers’ compensation claims are straightforward, a significant fraction of the claims in any book of business are responsible for the bulk of the costs and effort. In this highly “skewed” environment, claims teams make a heroic effort every day to scan through all of their open claims and identify those with an urgent need for management due to, for example:

• New claims that need immediate attention.
• Claims that are “escalating” in complexity.
• Claims that are heading toward attorney involvement.
• Claims where the adjuster’s estimate might need to be modified.

In addition, injured workers can experience delays and view nonpayment of medical expenses as a betrayal. Slight delays have been known to cause loss of trust and lead to attorney involvement.

CATT uses a series of advanced algorithms and analytic models to isolate, in real time, all open claims that need attention. It then sends alerts and notifications to the claims teams to help them manage their book of business. The results can be easily integrated into existing workflows.

CATT is now commercially available. Deployment is done in two phases:

• Phase 1: Setup and initial evaluation, estimated at four to six weeks for setup and model evaluation.
• Phase 2: Ongoing support and refinement.

Pricing is based on the size (i.e., number of new claims being received every year) of the customer. Visit http://www.claraanalytics.com/products/catt to learn more and schedule a demo.