United StatesProfessional services2022 – ongoingCorVel Corporation
CareMC predictive modeling for claim litigation risk
CorVel's litigation risk scoring cut client legal spend by $2 million in 2022
Problem
Claims that drift toward litigation raise legal costs for CorVel's clients. Adjusters needed an early signal of which claims needed extra attention.
Approach
CorVel's CareMC platform uses predictive modeling to score claims. The scores draw on claim history, pain levels and claimant compliance, and they update in real time as new information arrives. Flagged claims can prompt adjusters to involve nurse case managers or contact the injured worker directly.
Results
Takeaway
CorVel tied a dollar figure for client legal spend to a risk score that tells adjusters where to act early. The company did not explain how it measured the reduction.
Categories
- Industry
- Professional services
- Business function
- Production and qualityFinance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Built in-house
- Evidence
- Company's own claim
Sources
Source summaries
CorVel describes how CareMC predictive modeling produces claim risk scores and how adjusters act on flagged claims. It states that litigation risk scoring contributed to a $2 million reduction in client legal spend in 2022.
Full details are in the original sources.
