Gui for risk profiles

Abstract

A memory device stores machine-readable instructions executable by a processor to cause the processor to graphically depict on a display device a first category of risk analysis data related to a plurality of insurance claims. The processor also causes the display to graphically depict a relationship between a first analysis result and a first benchmark value corresponding to the first analysis result, and graphically depict one or more user controls for selecting a second category of risk analysis data.

We claim: 
     
         1 . A memory device storing machine-readable instructions, the instructions executable by a processor to cause the processor to:
 retrieve a first set of data from a database, the data including information about a plurality of insurance claims;   perform an analysis of the first set of data to determine a first result associated with a first key performance indicator;   obtain a first set of benchmark values corresponding to the first key performance indicator;   compare the first result to the first set of benchmark values to determine the relationship of the first result to the set of benchmark values; and   generate a risk profile report for output to the user that includes the relationship between the first result and the first set of benchmark values   wherein the key performance indicator is one of the group consisting of: a percentage of workers compensation claims that include temporary total disability payments; an average number of days per temporary total disability claim; an average value of indemnity claims; a medical-to-indemnity conversion rate; a claim closure, rate for workers compensation claims; an average time between a date of loss, and a date reported to a third party; a percentage of total claim payments attributable to medical costs; a percentage of medical costs attributable to pharmacy costs; a PPO penetration rate; a percentage of claims litigated; a percentage of total claim payments attributable to expenses; a percentage of total claim payments attributable to legal expenses; a trend relationship related to an actuarially based claim frequency rate; a variance related to an incidence rate of Occupational Safety & Health Administration (OSHA) claims; a variance related to a lost work date rate; and a loss rate calculated based on claim frequency and claim severity.   
     
     
         2 . The memory device according to  claim 1 , wherein the instructions further cause the processor to graphically depict the risk profile report on a display device. 
     
     
         3 . The memory device according to  claim 1 , wherein the instruction s are further executable by the processor to cause the processor to:
 associate with the first key performance indicator a risk indication according to the comparison of the first result to the first benchmark value; and   depict on the risk profile report the first key performance indicator and the risk indication associated with the first key performance indicator.   
     
     
         4 . The memory device according to  claim 3 , wherein the risk indication is associated with a color. 
     
     
         5 . The memory device according to  claim 4 , wherein the color associated with the risk indication is selected from the group consisting of red, yellow, and green. 
     
     
         6 . The memory device according to  claim 3 , wherein the risk indication is associated with a numerical indication, arrow, or icon. 
     
     
         7 . The memory device according to  claim 3 , wherein the risk indication is a value associated with a cell in a spreadsheet. 
     
     
         8 . A memory device according to  claim 3 , wherein the instructions are further executable by the processor to cause the processor to
 perform an analysis of one or more second sets of data to determine one or more second results associated with one or more second key performance indicators;   obtain one or more second sets of benchmark values, each of the one or more second sots of benchmark values corresponding to a respective one of the one or more second key performance indicators;   compare each of the one or more second results to the respective one or more second sets of benchmark values;   associate with each of the second one or more key performance indicators a respective risk indication according to the respective comparison of the one or more second results to the one or more second benchmark values; and   include in the risk profile report each of the second key performance indicators with the respective one or more associated risk indications.   
     
     
         9 . The memory device according to  claim 8 , wherein each risk indication is associated with a color. 
     
     
         10 . The memory device according to  claim 9 , wherein the color associated with each risk indication is selected from the group consisting of red, yellow, and green. 
     
     
         11 . The memory device according to  claim 8 , wherein the risk profile report comprises a chart having a row that corresponds to each key performance indicator and columns that correspond to reported data associated with each key performance indicator. 
     
     
         12 . The memory device according to  claim 11 , wherein one of the columns of the risk profile report includes the risk indication associated with each key performance indicator. 
     
     
         13 . A memory device storing machine-readable instructions, the instructions executable by a processor to cause the processor to
 retrieve one or more sets of data from a database, the data including information about a plurality of insurance claims;   perform an analysis on each of the one or more sets of data to determine a result for each set of data, the result being associated with a key performance indicator for each set of data;   obtain one or more sets of benchmark values, each of the one or more sets of benchmark values corresponding to a respective one of the one or more key performance indicators;   compare each of the one or more results to the respective one or more sets of benchmark values;   associate a respective risk indication, according to the respective comparison of the one or more results to the one or more benchmark values, with the key performance indicator for each set of data; and   generate a risk profile report for output to the user that includes the risk indication associated with the key performance indicator for each sot of data;   wherein at least one key performance indicator is selected form the group consisting of: a percentage of workers compensation claims that include temporary total disability payments; an average number of days per temporary total disability claim; an average value of indemnity claims a medical-to-indemnity conversion rate; a claim closure rate for workers compensation claims; an average time between a date of loss and a date reported to a third party; a percentage of total claim payments attributable to medical costs; a percentage of medical costs attributable to pharmacy costs; a PPO penetration rate; a percentage of claims litigated; a percentage of total claim payments attributable to expenses; a percentage of total claim payments attributable to legal expenses; a trend relationship related to an actuarially based claim frequency rate; a variance related to an incidence rate of Occupational Safety & Health Administration (OSHA) claims; a variance related to a lost work date rate; and a loss rate calculated based on claim frequency and claim severity.   
     
     
         14 . The memory device according to  claim 13 , wherein the instructions further cause the processor to graphically depict the risk profile report on a display device. 
     
     
         15 . The memory device according to  claim 13 , wherein each risk indication is associated with a color. 
     
     
         16 . The memory device according to  claim 15 , wherein the color associated with each risk indication is selected from the group consisting of red, yellow, and green. 
     
     
         17 . The memory device according to  claim 13 , wherein the risk profile report comprises a chart having a row that corresponds to each key performance indicator and columns that correspond to reported data associated with each key performance indicator. 
     
     
         18 . The memory device according to  claim 17 , wherein one of the columns of the risk profile report includes the risk indication associated with each key performance indicator.