Milliman, Inc., the premier global consulting and actuarial firm, today announced that Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) ("Skyward Specialty"), a leader in the specialty property and casualty (P&C) market, has chosen Milliman Datalytics-Defense® as its platform for processing its defense cost invoices. Milliman Datalytics-Defense employs powerful data mining algorithms to help insurers detect patterns in attorney billing practices, delivering better understanding of both costs and defense strategies.
"At Skyward Specialty we seek out forward-thinking, tech-enabled solutions to augment our expertise and provide efficiency for our partners," said Sean Duffy, Skyward Specialty executive vice president and chief claims officer. “Working with Milliman Datalytics-Defense enables us to continue to deliver top-tier claims handling processes and service that really provide value to our clients.”
Milliman Datalytics-Defense is a web-based tool and is available on a subscription basis. The platform provides real-time, actionable intelligence through responsive reporting dashboards that are built upon a robust data warehouse. The tool’s data-driven approach helps insurers make better business decisions, manage counsel more effectively, and reduce overall litigation spend. Additionally, Milliman Datalytics-Defense's predictive attorney scoring model enables insurers to allocate legal defense dollars to the most effective attorneys based on cost vs. outcome.
"We are excited to collaborate with Skyward Specialty to assist them in bringing additional value to their clients," says Chad C. Karls, Milliman principal and consulting actuary. "The ability to supplement Skyward’s internal expertise with detailed and actionable data derived from our A.I.-based machine learning algorithms will help to differentiate Skyward from its peers.”
About Milliman
Milliman is among the world’s largest providers of actuarial, risk management, and technology solutions. Our consulting and advanced analytics capabilities encompass healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at Milliman.com.
About Skyward Specialty
Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -- Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.
Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A- (Excellent) by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.
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Contacts
Chad Karls
Milliman, Inc.
Tel: 646.473.3021
chad.karls@milliman.com
