Weightmans LLP has introduced PREDiCT Volume, a new data-driven tool aimed at improving how insurers manage personal injury claims. Early pilot tests show the tool could reduce compensation payouts by £3.82 million and free up approximately £18.7 million in capital tied up in reserves.
Focus on Low-Value, High-Volume Claims
PREDiCT Volume is designed specifically for managing low-value claims in motor vehicle, employers’ liability, and public liability cases. It targets claims valued up to £50,000. The tool builds on Weightmans’ existing platform, PREDiCT Large Loss, launched in July 2021, which reportedly saved insurers £101 million last year.
Improved Reserve Accuracy and Faster Claims Processing
During pilot testing, PREDiCT Volume improved reserve accuracy significantly compared to traditional methods. Processor-approved reserves were nearly 59% higher than the final settlement value using old methods. In contrast, PREDiCT Volume’s forecasts were only 8.6% higher, leading to a reduction in capital held of around £18.7 million based on the pilot portfolio.
The technology also accelerated claims handling, with cases closed 14% faster on average, demonstrating clear operational efficiency gains. The pilot estimated overall claims savings of £3.82 million across a sample of cases.
Expert Insight on Impact and Future Potential
Will Quinn, partner and project lead at Weightmans, emphasized the tool’s role in enhancing decision-making. “This isn’t just about the technology itself, it’s about helping insurers make smarter decisions, ultimately leading to better outcomes,” said Quinn. “The pilot data is very meaningful and we believe PREDiCT Volume will set a new benchmark in claims analytics.”
Building on Proven Analytics Success
PREDiCT Large Loss has been applied to over 140 complex cases settled between July 2021 and December 2024. Weightmans reports a 7% reduction in median claim lifecycle, alongside improved reserve accuracy and lower compensation costs.
Additionally, Weightmans recently launched PREDiCT 2.1, an upgraded version of their analytics platform. This new iteration incorporates 12 months of additional claims data and updated inflation data. Internal testing indicates further improvements in claims forecasting and management.
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