LOS ANGELES and DALLAS – MARCH 28, 2007 – Marshall and Swift / Boeckh (MSB), an MDA company and the leading worldwide provider of building cost data and estimating technology to the property insurance industry, announces that an 18-month property claims analytics engagement with Cunningham Lindsey U.S., Inc., a leader in independent claims adjusting and loss management services, has resulted in improved adjuster performance.
Through MSB’s Claims Analytics, Cunningham Lindsey has been able to generate favorable results in the areas of Deductions for Openings and Line Item Write-ins. By properly accounting for openings such as windows and doors, Cunningham Lindsey assures that its customers pay only for the materials actually used in a repair operation. Similarly, the use of the MSB platform has helped Cunningham Lindsey monitor line-item write-ins within completed estimates. Management of write-ins helps control severity by replacing anecdotal or “guesstimate” pricing with defendable costs based on verifiable cost research.
“Analytics has allowed Cunningham Lindsey to make steady improvements in our estimating best practices and we continue to strive to exceed established industry performance goals. Our partnership with MSB Analytics has enabled us to not only make improvements in our claims adjustment processes, but also provide current clients as well as prospective clients with verifiable/quantifiable analytic data, aligning our goals with the clients to help manage risk indemnity and control expenses. Cunningham Lindsey continues to raise the bar for other claims adjustment organizations.” said Karl Nann, VP-Director of Property, Cunningham Lindsey U.S. Inc.
According to Jonathan Kost, Senior Vice President of Claims at MSB, MSB Claims Analytics is a unique combination of expert people, systems, and strategy that interact within a company to bring significant, positive changes to their way of doing business. MSB Analytics has gathered detailed property loss data and performed studies using enormous quantities of claims data and is able to supply information regarding how their estimates and service results compare to the independent adjuster market, as well as to the claims market as a whole. By using Claims Analytics a company can better assess how claims are handled and develop strategies to improve performance, reduce claims severity, and maintain fair settlement practices.
“The results of the various analyses have been embraced by Cunningham Lindsey and have produced admirable results. Through the partnership with Claims Analytics both MSB and Cunningham Lindsey continue to investigate and implement additional best practices that will make them one of the most measurably successful players in the industry,” says Kost.
Marshall & Swift / Boeckh (MSB), an MDA company, is the leading supplier of local building cost information, residential and commercial property valuation technology and services for the property and casualty insurance sector in the United States and Canada. MSB has five offices throughout the U.S. and Canada. For information, please contact Marsha Berenson, Media Coordinator, at 800-285-1288, Ext. 2828, or MAILTO:Marsha.Berenson@msbinfo.com.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,000 people in locations across the United States, the United Kingdom, and Canada. The Company’s common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About Cunningham Lindsey
Cunningham Lindsey U.S. Inc. is an independent insurance claims services company, providing a wide range of claims adjusting services including commercial property and liability, personal lines, catastrophe response, and environmental assessment and remediation. Its national network of 135 offices also provides worldwide services through offices of sister companies within the Cunningham Lindsey Group strategically located throughout Canada, the United Kingdom, continental Europe, the Far East, Latin America and the Middle East. CLUS is a subsidiary of Cunningham Lindsey Group Inc., a publicly traded company on The Toronto Stock Exchange (symbol: LIN).Tags: Cunningham Lindsey, Marshall & Swift / Boeckh (MSB)