Fully customizable analysis and reporting now available via Zywave claims analysis tool
Enhancements provide more differentiation and flexibility for insurance brokers
Milwaukee, WI – August 16, 2013
For insurance brokers looking to differentiate and deliver superior client service, offering health care claims analysis is a growing trend to help employers combat unsustainable health care costs. The ability to dig into a group’s claims data to identify cost or utilization areas – to then formulate cost-saving strategies – is an invaluable tool in an insurance broker’s back pocket, particularly in today’s market.
Zywave’s Decision Master(R) Warehouse (DMW) claims analysis software has long been the tool of choice for hundreds of brokers, with the ability to benchmark against the largest commercial medical claims database in the country, easily analyze and dig into data, then model plan design changes to implement targeted strategies based on hard facts.
Enhancements released today, building on the all-new Ad Hoc Analysis announced earlier this summer, further strengthen the value of the tool for insurance brokers looking to strengthen their sales pitch, justify a fee-for-service revenue model, differentiate in a crowded marketplace and land larger accounts.
Adding to the simple-to-use yet sophisticated customization capabilities of our new Ad Hoc Analysis, we’ve brought similar customization abilities to our benchmark reports to create a cohesive client experience. “We’ve given the standard report a face lift,” said Michelle Jackson, product director of data analytics at Zywave, “plus added exciting customization capabilities for those brokers who want to truly create their own custom analytics output. Brokers can now update colors, text, branding and more on the reports, to fit the needs of their agency and clients.”
For instance, a broker may want to focus on just a few sections, rather than the full report, and update the text to match the findings from their Ad Hoc Analysis exploration. Or, if there is a format an agency always wants to use, they can customize once and save that template for reuse.
We benchmark claims data against national databases from Truven Health Analytics and Kaiser Family Foundation, making our benchmarking superior to competitors or carriers who simply use a book of business. With our latest enhancements, we’ve also added additional granularity to bring even more impact to our benchmarking, including more specific industries, the availability of norms by state, and the option to benchmark against collectively bargained groups.
“Now brokers can offer their clients the most powerful norm database available by size, segmented even more specifically to a client’s business and location, for added impact and relevancy,” said Jackson.
Zywave is the leading provider of software-as-a-service (SaaS) technology solutions for the insurance and financial services industries. The company’s products include Web-enabled marketing communications, business intelligence and analytics, agency automation, and needs-assessment and financial planning tools. More than 350,000 financial and insurance professionals, including 90 of the Top 100 U.S. insurance firms and dozens of the world’s largest financial institutions, use Zywave’s proven solutions to help them differentiate from the competition, enhance client services, improve efficiencies and achieve organic growth. To learn more, visit www.zywave.com.