Gaining control over claims expenses feels impossible because reconciling expense data across disparate systems is a slow and cumbersome process. The issue becomes exaggerated as adjusters lean more heavily into remote adjustment, limiting interaction with policyholders, and resulting in a rise insurtech and service provider expenses. Where does an organization find the time or resources to go digging for the business-critical data that will further prevent claims leakage?

In addition to the data challenges within individual organizations, their is insufficient industry data for carriers to leverage for optimizing procurement, pricing, and service rates. The absence of quality metrics creates a guessing game with budgets and expenses which inadequately addresses the opportunities to reduce claims leakage.

Mimia provides the tools to measure and manage expenses, which become the foundation of not just your expense management program but your procurement strategy with your vendors and service providers.

• Industry benchmarking
• Anonymized data
• Historical data for reinsurers
• Real-time analysis
• Performance metrics for service providers