Predictive Resourcing Model

Client Situation

For a life insurer, claims staff resourcing is critical to ensuring customers are dealt with quickly and fairly.

Challenge

A large insurance contract was secured which meant that a large volume of claims will gradually build up over time. An accurate resourcing plan was required to ensure customer claim lodgements are dealt with quickly and fairly.

Solution

A model was built to predict the number of claims expected to be reported monthly by using the historical claim reporting patterns observed in the claims data. The number of claims staff can then be estimated to handle the claim reporting volumes.

Results

After implementing the predictive resourcing model:

• A robust plan on the number claims staff to hire over the onboarding period was set. This achieved cost efficiencies by removing the need to be unnecessarily conservative with projected staff numbers.
• The confidence in the number of staff required means that the financial budget was efficiently allocated allowing investment in other areas of the business.