Princeton, NJ – August 2020 — Claros Analytics, the health benefits industry’s premier actuarial technology firm, announced today a major update to its industry-leading rating manual, Actuarial Advisor, and its Health Benefits Consulting Suite.
In this update the detailed claim distributions are based on an updated claims data set that is 14% larger than in 2019. The data is updated annually to capture and utilize the most recent healthcare trends. The size and richness of the database allows for the development of claim distributions reflecting 34 medical service categories, 8 pharmaceutical categories and over 200 claim size ranges.
“With this latest release we have further enhanced the capabilities of both Actuarial Advisor, the most comprehensive and flexible healthcare actuarial rating manual available today, and our Health Benefits Consulting Suite, our price and risk modeling tool for brokers, advisors and TPAs,” said Todd Owen, CEO of Claros Analytics.
Claros Analytics’ Actuarial Advisor, also available on underwriting and administration systems from Young Consulting and kusoftware (Ugan), guides carriers and underwriters nationwide in developing their claims projections for first dollar, specific, aggregate, and excess risk. With Health Benefits Consulting Suite, brokers, advisors and TPAs are able to project the future for their clients and provide invaluable insights involving plan design, stop loss dynamics, budgeting, claims, employee migration and risk tolerance.
For more information about how to elevate and enlighten your partners and clients with Actuarial Advisor or Health Benefits Consulting Suite, contact Spencer Collum at scollum@clarosanalytics.com or call 609-275-6550 x206.
About Claros Analytics
Claros Analytics provides next-generation analytics to model, price, and predict health benefits cost. Clients, including stop loss carriers, underwriters, reinsurers, benefits consultants and advisors, plan administrators, and plan sponsors, are achieving competitive advantage by modeling health plan changes, defining self-funded opportunities, and budgeting self-funded plan costs using our sophisticated predictive algorithms.
Visit clarosanalytics.com to learn more or to schedule a demo today.