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CREW™ stands out from the pack with its efficient, flexible Microsoft Excel-based template that uses a single, simple-to-use workbook. The flow of the calculations can be easily understood by actuaries and non-actuaries alike. CREW’s primary asset is its ability to accommodate unusual claim payment patterns, as well as changing enrolments, benefits, unit costs, and other key factors like changes in capitation and provider contracts. The result is a far more accurate estimate.
CREW performs a series of actuarial-based claim-reserve calculations using historical, client-specific claims and exposure data. CREW also offers reporting features that make it an exceptional management tool.
CREW can:
The tool is designed so that the user can easily test and document the sensitivity of different sets of assumptions on the resulting IBNP estimate. This feature is critically important because reserve estimates are often very sensitive to the assumptions used.
Milliman consultants provide training and ongoing support for CREW users. In our thorough, half-day training session, we give CREW users a comprehensive understanding of how to use this tool, typically using the client’s data as part of the process. Any necessary client-Milliman interaction is seamless and efficient because Milliman uses the same model the client licenses to develop the reserves. Data concerns are eliminated, and advice is easily shared.
Any entity with claim run-out risks and reserve estimation needs can benefit from CREW. Whether you set reserves for one cohort of claims or many, CREW easily adapts to your needs. Contact us today to find out how CREW can help you develop more accurate reserve estimates and gain a new insight on your business.