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Thursday, February 29, 2024

Claros Analytics - Shaping the actuarial workforce of the future

Claro Analytics’ goal is to simplify access to and management of workforce-related data so that businesses may make better-informed decisions regarding hiring. Organizations that employ both professionals and hourly workers can benefit from Claro Analytics’ cutting-edge talent intelligence platform in terms of strategic initiatives like employee retention, diversity metrics and benchmarking, workforce supply and demand planning, competitive talent benchmarking, and real-time salary information. Claros Analytics offers next-generation analytics to model, price, and forecast the cost of health benefits. Our highly advanced predictive algorithms are helping clients, such as stop loss carriers, underwriters, reinsurers, benefits consultants and advisors, plan administrators, and plan sponsors, gain a competitive edge by pricing risk, modeling health plan changes, defining self-funded opportunities, and budgeting self-funded plan costs. To make the most of the solutions, users receive thorough training, direction, and assistance from knowledgeable actuaries.

Claros Analytics is the health benefits industry’s premier actuarial software firm. The company develop next-generation analytics applications that model and price risk in healthcare plans and healthcare systems for benefits consultants, advisors, TPAs and service providers, plan sponsors, carriers and underwriters. Claros Analytics’ Actuarial Advisor, integrated into the leading underwriter administration systems and available as a stand-alone application for customized analysis, guides carriers and underwriters nationwide in developing their claims projections for first dollar, specific, aggregate and excess risk.

The use of predictive analytics tools enables users to estimate the financial performance of employer health plans with simplicity, allowing them to draw in more customers, engage in more fruitful negotiations with carriers, enhance customer service, and boost client retention. Additionally, the firm regularly upgrades software with user-requested improvements and advanced features to guarantee that our solutions stay at the forefront of the health benefits sector. Actuaries from a healthcare consulting firm formed Claros Analytics to improve the way the sector prices risk. They were dissatisfied with the market’s lack of openness and the ineffectiveness of the current rating guidelines in providing reliable outcomes. Carlos Analytics decided to construct it ourselves because they thought a probability-driven manual based on a large data collection would provide the accuracy and adaptability they needed.

 Some of the solutions offered by Claros, the actuarial assistant, evaluate projected claim levels without taking into account the collective claim history of the relevant stakeholders. Show the increases and decreases brought on by any change in group size. Calculate cost-cutting measures for various groups, including reference prices.The Actuarial Advisor from Claros Analytics assists carriers and underwriters nationwide in developing their claims projections for the first dollar, specific, aggregate, and excess risk. It is integrated into the top underwriter administration systems and is also available as a stand-alone application for customized analysis. It creates reasonable pricing for whatever size of gathering. Rates should be adjusted exactly for changes in all relevant inputs, including intricate interactions between the input components. Clients, including stop loss carriers, underwriters, reinsurers, benefits consultants and advisors, plan administrators and plan sponsors, are achieving competitive advantage by pricing risk, modeling health plan changes, defining self-funded opportunities, and budgeting self-funded plan costs using our sophisticated predictive algorithms.

Todd Owen is the president and CEO of Carlos Analytics. Todd wants to provide an essential platform for business professionals to estimate and price healthcare costs. Recently, Claros Analytics has developed a new web-based application that simplifies designing and pricing employer health benefit plans.Users are guided by ClarosPlan through the process of developing a plan and calculating the effect of modifications on the total cost of the plan. The application is a unique tool for thorough plan analysis and forecasting and can evaluate a wide range of potential plan changes, including changes to employee demographics, modifications to the medical and prescription drug plan design, an increase or decrease in the stop loss deductible, and adjustments to network pricing, including reference-based pricing. “ClarosPlan empowers our users to deliver powerful analysis, keen insights, and credible projections of the dynamics of the self-insured plan,” says Todd Owen, Claros Analytics CEO. It has been energizing to have the chance to integrate cutting-edge actuarial models into a business that supports the success of hundreds of clients, and Claros Analytics will continue to take the lead in changing how we perceive and handle risk in the healthcare industry.

 

Claros Analytics
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Todd Owen, President & CEO

www.clarosanalytics.com

“ClarosPlan empowers our users to deliver powerful analysis, keen insights, and credible projections of the dynamics of the self-insured plan,”

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