Business Analytics (Risk Control)

Translating data into business insights

More than ever before, organizations are leveraging data analytics to better understand their business, their industry, their strengths, and their opportunities for improvement. PMA Companies, through their Risk Control Business Analytics solutions, can bring clarity to the complex world of data. By using cutting edge technology, combined with a collaborative approach and backed by more than 100 years of insurance industry expertise, PMA helps clients improve performance, develop long-term risk control strategies, and reduce frequency and severity of loss.

Why choose PMA Companies Business Analytics?

Understand what matters

Using anecdotal information to understand complex systems can leave you with a less-than-accurate view of your organization. PMA Companies Business Analytics examines your data in the context of your organizational processes and outcomes, isolates factors that impact your business, and provides you with the information you need to make informed decisions. Our analysts work with you to determine the most effective cost avoidance strategies, identify your greatest opportunities for improvement, establish long-term goals, and provide you with dashboards and reporting that help simplify complex analytics into compelling visual information.

Uncover hidden trends, areas of opportunity & strengths

Identifying potential areas of concern before they negatively affect your business can make a difference to your bottom line. Likewise, understanding what is working well can help you free up resources to focus on other areas of opportunity within your organization. PMA Companies Business Analytics helps pinpoint trends in your data and develop strategies to enhance performance over time. From showing how specific parts of your business perform against industry benchmarks, to providing deep insight into your loss trending, we partner with you to ensure you have an accurate view of how your business is operating.

Use data to drive results

It takes more than data collection and analysis to solve problems and improve business performance. PMA Companies Business Analytics goes beyond simply presenting you with analysis reports; we help you turn analysis into results. Our Business Analytics solutions include everything you need to more fully understand the factors contributing to your loss performance, and to establish specific plans to reduce your total cost of risk and even prevent losses before they occur.

PMA Companies provides the following Business Analytics solutions:

Holistic Stewardship Reporting – Offers insight from a Risk Control, Underwriting, Claims Management and Managed Care perspective
Loss Trending Analysis – Examines performance across time at multiple levels, including lost time and medical only frequency rates and loss leaders, while identifying department and location-specific loss activity
Improvement Opportunity Analysis – Identifies the areas in your organization representing the greatest opportunity for improvement through enhanced risk control focus
Goal Establishment – PMA Risk Control analysts and consultants collaborate with you to establish data-driven goals that support your organizational objectives and drive continuous improvement
Competitive Position Analysis – Calculates the claim and dollar equivalent to your organization’s performance versus the competition
Cost Avoidance Analysis – Calculates the claim and dollar equivalent to the change in frequency rate over time, including the profit from revenue implication
Analytical Dashboard – Helps you effortlessly navigate your own data and make fact-based decisions to help drive organizational performance
Industry Comparison Analysis – Provides insight into how your organization fares against the competition, including frequency rate, loss leaders and more
Status Reports – Regularly generated trend and metric focused reports, tailored to your specific needs

Business Analytics